BankPlus Trust Department Purchases Shares of 572 Arista Networks, Inc. (NYSE:ANET)

BankPlus Trust Department purchased a new stake in shares of Arista Networks, Inc. (NYSE:ANET) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 572 shares of the technology company’s stock, valued at approximately $63,000.

Several other large investors have also added to or reduced their stakes in the company. Zions Bancorporation N.A. grew its stake in Arista Networks by 6.9% during the 3rd quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock valued at $160,000 after purchasing an additional 27 shares during the last quarter. Intellectus Partners LLC lifted its holdings in shares of Arista Networks by 1.4% in the 3rd quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock valued at $740,000 after buying an additional 27 shares during the period. Altman Advisors Inc. lifted its holdings in shares of Arista Networks by 0.5% in the 3rd quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock valued at $2,250,000 after buying an additional 28 shares during the period. HM Payson & Co. lifted its holdings in shares of Arista Networks by 28.2% in the 3rd quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock valued at $51,000 after buying an additional 29 shares during the period. Finally, Beacon Financial Advisory LLC lifted its holdings in shares of Arista Networks by 4.9% in the 3rd quarter. Beacon Financial Advisory LLC now owns 640 shares of the technology company’s stock valued at $246,000 after buying an additional 30 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insiders Place Their Bets

In other news, insider John F. Mccool sold 288 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $108.70, for a total value of $31,305.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $108.29, for a total value of $8,663,200.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,405,171.04. This trade represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 260,224 shares of company stock valued at $30,242,856. Insiders own 3.54% of the company’s stock.

Analyst Ratings Changes

ANET has been the subject of several analyst reports. Barclays boosted their price objective on Arista Networks from $125.00 to $126.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Needham & Company LLC reissued a “buy” rating and issued a $145.00 price objective on shares of Arista Networks in a report on Wednesday, February 19th. UBS Group boosted their price objective on Arista Networks from $106.00 to $112.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Wells Fargo & Company increased their price target on Arista Networks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Finally, StockNews.com cut Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $113.79.

Arista Networks Stock Performance

Shares of ANET opened at $92.85 on Wednesday. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.57. The stock has a market capitalization of $117.10 billion, a price-to-earnings ratio of 41.83, a PEG ratio of 3.10 and a beta of 1.09. The stock has a 50 day moving average price of $112.78 and a 200 day moving average price of $102.13.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. On average, analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

About Arista Networks

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.