Parkside Financial Bank & Trust Acquires 1,571 Shares of Arista Networks, Inc. (NYSE:ANET)

Parkside Financial Bank & Trust grew its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 257.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,182 shares of the technology company’s stock after acquiring an additional 1,571 shares during the period. Parkside Financial Bank & Trust’s holdings in Arista Networks were worth $241,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Caitlin John LLC raised its stake in shares of Arista Networks by 174.7% during the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after acquiring an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC raised its stake in shares of Arista Networks by 335.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock valued at $27,000 after acquiring an additional 191 shares during the last quarter. Cranbrook Wealth Management LLC raised its stake in shares of Arista Networks by 300.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after acquiring an additional 198 shares during the last quarter. Trust Co. of Vermont raised its stake in shares of Arista Networks by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after acquiring an additional 198 shares during the last quarter. Finally, New Millennium Group LLC raised its stake 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 valued at $29,000 after acquiring an additional 195 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Jayshree Ullal sold 138,351 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $93.88, for a total value of $12,988,391.88. Following the completion of the sale, the chief executive officer now owns 92,641 shares in the company, valued at $8,697,137.08. This represents a 59.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the completion of the sale, the senior vice president now owns 12,976 shares of the company’s stock, valued at approximately $1,405,171.04. The trade was a 86.04 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 433,441 shares of company stock worth $46,538,462. Insiders own 3.54% of the company’s stock.

Arista Networks Trading Up 1.7 %

NYSE ANET opened at $93.10 on Friday. The company has a fifty day simple moving average of $111.80 and a 200 day simple moving average of $102.19. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.57. The company has a market cap of $117.41 billion, a P/E ratio of 41.94, a PEG ratio of 3.10 and a beta of 1.09.

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

Analyst Ratings Changes

Several research firms have recently issued reports on ANET. Piper Sandler reaffirmed a “neutral” rating and set a $108.00 price target (up previously from $106.00) on shares of Arista Networks in a research note on Wednesday, February 19th. Wells Fargo & Company lifted their target price on shares of Arista Networks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Barclays lifted their target price on shares of Arista Networks from $125.00 to $126.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Evercore ISI lifted their target price on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Finally, UBS Group lifted their target price on shares of Arista Networks from $106.00 to $112.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $113.79.

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.