CENTRAL TRUST Co Sells 460 Shares of Arista Networks, Inc. (NYSE:ANET)

CENTRAL TRUST Co trimmed its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 38.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 727 shares of the technology company’s stock after selling 460 shares during the quarter. CENTRAL TRUST Co’s holdings in Arista Networks were worth $279,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ANET. GQG Partners LLC bought a new stake in shares of Arista Networks during the first quarter worth about $881,848,000. Legal & General Group Plc increased its position in Arista Networks by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 2,195,733 shares of the technology company’s stock valued at $769,560,000 after acquiring an additional 20,278 shares during the period. Swedbank AB bought a new position in shares of Arista Networks during the first quarter valued at $521,767,000. Ameriprise Financial Inc. lifted its holdings in shares of Arista Networks by 97.2% during the second quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company’s stock worth $628,966,000 after purchasing an additional 884,703 shares during the period. Finally, TD Asset Management Inc grew its stake in shares of Arista Networks by 18.7% in the first quarter. TD Asset Management Inc now owns 943,694 shares of the technology company’s stock worth $273,652,000 after purchasing an additional 148,759 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Rosenblatt Securities lifted their target price on Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a report on Wednesday, July 31st. Jefferies Financial Group increased their target price on shares of Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. The Goldman Sachs Group boosted their price target on shares of Arista Networks from $390.00 to $430.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Barclays increased their price objective on shares of Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, Needham & Company LLC restated a “buy” rating and issued a $375.00 target price on shares of Arista Networks in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $369.50.

Arista Networks Price Performance

Shares of NYSE ANET opened at $394.09 on Friday. The company has a 50-day moving average price of $372.10 and a 200-day moving average price of $334.86. The stock has a market capitalization of $123.49 billion, a P/E ratio of 54.89, a P/E/G ratio of 3.21 and a beta of 1.07. Arista Networks, Inc. has a 1 year low of $168.25 and a 1 year high of $422.73.

Arista Networks (NYSE:ANET) last released its quarterly 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 business had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.66 billion. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The company’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.41 EPS. As a group, equities research analysts anticipate that Arista Networks, Inc. will post 7.38 earnings per share for the current fiscal year.

Insider Activity at Arista Networks

In other news, SVP Marc Taxay sold 628 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $350.50, for a total value of $220,114.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Marc Taxay sold 628 shares of the business’s 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Kelly Bodnar Battles sold 373 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $396.48, for a total value of $147,887.04. Following the sale, the director now directly owns 2,192 shares of the company’s stock, valued at $869,084.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 58,570 shares of company stock valued at $21,474,782. 3.54% of the stock is owned by insiders.

Arista Networks 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.