Farmers & Merchants Trust Co of Chambersburg PA Has $221,000 Stake in Arista Networks, Inc. (NYSE:ANET)

Farmers & Merchants Trust Co of Chambersburg PA increased its position in Arista Networks, Inc. (NYSE:ANET) by 300.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,000 shares of the technology company’s stock after purchasing an additional 1,500 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA’s holdings in Arista Networks were worth $221,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ANET. MidAtlantic Capital Management Inc. purchased a new stake in Arista Networks in the 3rd quarter worth approximately $44,000. HM Payson & Co. lifted its position in Arista Networks by 28.2% in the 3rd quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock worth $51,000 after buying an additional 29 shares in the last quarter. True Wealth Design LLC lifted its position in Arista Networks by 2,133.3% in the 3rd quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock worth $51,000 after buying an additional 128 shares in the last quarter. Anchor Investment Management LLC lifted its position in Arista Networks by 35.0% in the 3rd quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock worth $52,000 after buying an additional 35 shares in the last quarter. Finally, ORG Partners LLC lifted its position in Arista Networks by 186.0% in 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. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Trading Up 0.1 %

NYSE:ANET opened at $109.75 on Friday. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.57. The firm’s fifty day simple moving average is $113.91 and its 200 day simple moving average is $100.65. The firm has a market capitalization of $138.26 billion, a PE ratio of 52.77, a PEG ratio of 3.10 and a beta of 1.09.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ANET shares. Barclays cut their target price on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. Piper Sandler restated a “neutral” rating and set a $105.25 price target (up previously from $86.25) on shares of Arista Networks in a report on Friday, November 8th. The Goldman Sachs Group raised their price target on shares of Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a report on Friday, January 17th. StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Finally, Rosenblatt Securities raised their price target on shares of Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $107.59.

Insider Activity at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction 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 sale, the senior vice president now directly owns 12,976 shares in the company, valued at $1,500,155.36. This trade represents a 86.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $412.65, for a total transaction of $825,300.00. Following the completion of the sale, the director now owns 42,946 shares in the company, valued at $17,721,666.90. This represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 335,832 shares of company stock worth $37,787,297. 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.