Hancock Whitney Corp Has $16.31 Million Holdings in Arista Networks, Inc. (NYSE:ANET)

Hancock Whitney Corp increased its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 310.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 147,517 shares of the technology company's stock after acquiring an additional 111,576 shares during the period. Hancock Whitney Corp's holdings in Arista Networks were worth $16,305,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Caitlin John LLC increased its holdings in shares of Arista Networks by 174.7% in the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company's stock worth $26,000 after acquiring an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC boosted its stake in shares of Arista Networks by 335.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock valued at $27,000 after buying an additional 191 shares during the period. Cranbrook Wealth Management LLC boosted its holdings in shares of Arista Networks by 300.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company's stock valued at $29,000 after purchasing an additional 198 shares in the last quarter. Trust Co. of Vermont increased its position in Arista Networks by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company's stock worth $29,000 after purchasing an additional 198 shares in the last quarter. Finally, New Millennium Group LLC grew its holdings in shares of Arista Networks by 300.0% during the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock worth $29,000 after purchasing an additional 195 shares during the last quarter. Institutional investors own 82.47% of the company's stock.

Insider Buying and Selling

In other Arista Networks news, CEO Jayshree Ullal sold 138,351 shares of Arista Networks stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the completion of the transaction, the chief executive officer now owns 92,641 shares in the company, valued at approximately $8,697,137.08. This trade represents a 59.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Kenneth Duda sold 80,000 shares of the firm's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $115.61, for a total value of $9,248,800.00. Following the completion of the sale, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,500,155.36. The trade was a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 410,863 shares of company stock valued at $39,344,612 over the last 90 days. Corporate insiders own 3.54% of the company's stock.

Arista Networks Price Performance

ANET opened at $70.81 on Thursday. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $133.58. The company has a 50 day simple moving average of $81.85 and a two-hundred day simple moving average of $98.68. The firm has a market cap of $88.91 billion, a P/E ratio of 31.90, a PEG ratio of 3.10 and a beta of 1.30.

Arista Networks (NYSE:ANET - Get Free Report) last released its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. Equities analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently commented on ANET shares. Erste Group Bank downgraded Arista Networks from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 17th. Piper Sandler dropped their price target on Arista Networks from $108.00 to $76.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Barclays reissued an "overweight" rating on shares of Arista Networks in a research note on Monday, March 3rd. JPMorgan Chase & Co. dropped their price objective on shares of Arista Networks from $140.00 to $110.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Finally, Morgan Stanley cut their target price on Arista Networks from $118.00 to $73.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $104.29.

Arista Networks Company Profile

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.

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