Wesbanco Bank Inc. Buys 100 Shares of Arista Networks, Inc. (NYSE:ANET)

Wesbanco Bank Inc. boosted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 10.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,102 shares of the technology company’s stock after purchasing an additional 100 shares during the quarter. Wesbanco Bank Inc.’s holdings in Arista Networks were worth $423,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. ORG Partners LLC grew its position in shares of Arista Networks by 186.0% during the 3rd quarter. ORG Partners LLC now owns 143 shares of the technology company’s stock worth $55,000 after buying an additional 93 shares in the last quarter. Empirical Asset Management LLC lifted its stake in Arista Networks by 32.5% in the third quarter. Empirical Asset Management LLC now owns 9,468 shares of the technology company’s stock worth $3,634,000 after acquiring an additional 2,321 shares during the period. Sunflower Bank N.A. grew its holdings in Arista Networks by 15.6% during the 3rd quarter. Sunflower Bank N.A. now owns 777 shares of the technology company’s stock worth $298,000 after acquiring an additional 105 shares in the last quarter. Sawyer & Company Inc increased its position in Arista Networks by 0.8% during the 3rd quarter. Sawyer & Company Inc now owns 10,741 shares of the technology company’s stock valued at $4,123,000 after purchasing an additional 81 shares during the period. Finally, McGlone Suttner Wealth Management Inc. bought a new stake in shares of Arista Networks in the 3rd quarter valued at about $207,000. 82.47% of the stock is owned by institutional investors.

Insider Transactions at Arista Networks

In related news, SVP Marc Taxay sold 628 shares of Arista Networks stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $350.50, for a total transaction of $220,114.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $394.69, for a total value of $7,893,800.00. Following the completion of the transaction, the senior vice president now owns 3,244 shares in the company, valued at $1,280,374.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Marc Taxay sold 628 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $350.50, for a total value of $220,114.00. The disclosure for this sale can be found here. Insiders have sold 58,197 shares of company stock worth $21,326,894 over the last quarter. 3.54% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. KeyCorp lifted their price objective on shares of Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Evercore ISI boosted their price target on Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Jefferies Financial Group raised their price objective on Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Rosenblatt Securities boosted their target price on shares of Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a report on Wednesday, July 31st. Finally, Morgan Stanley raised their price target on shares of Arista Networks from $325.00 to $355.00 and gave the company an “overweight” rating in a report on Thursday, July 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Arista Networks currently has an average rating of “Moderate Buy” and an average price target of $369.50.

Arista Networks Trading Up 3.6 %

Shares of NYSE ANET opened at $406.30 on Thursday. The company has a 50 day simple moving average of $364.47 and a two-hundred day simple moving average of $330.06. The stock has a market cap of $127.32 billion, a price-to-earnings ratio of 56.59, a PEG ratio of 3.21 and a beta of 1.07. Arista Networks, Inc. has a 12 month low of $168.25 and a 12 month high of $422.73.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.38. The company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.66 billion. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.41 earnings per share. Analysts forecast that Arista Networks, Inc. will post 7.38 EPS for the current year.

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.