Cullen Frost Bankers Inc. Purchases 1,587 Shares of Arista Networks, Inc. (NYSE:ANET)

Cullen Frost Bankers Inc. increased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 314.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,091 shares of the technology company’s stock after purchasing an additional 1,587 shares during the period. Cullen Frost Bankers Inc.’s holdings in Arista Networks were worth $231,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Stock Yards Bank & Trust Co. purchased a new position in Arista Networks during the fourth quarter valued at $242,000. GHE LLC grew its stake in Arista Networks by 319.0% during the fourth quarter. GHE LLC now owns 28,368 shares of the technology company’s stock valued at $3,136,000 after acquiring an additional 21,597 shares in the last quarter. Colonial River Investments LLC grew its stake in Arista Networks by 327.6% during the fourth quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock valued at $1,077,000 after acquiring an additional 7,466 shares in the last quarter. Unified Investment Management purchased a new position in Arista Networks during the fourth quarter valued at $630,000. Finally, Silver Oak Securities Incorporated grew its stake in Arista Networks by 395.8% during the fourth quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company’s stock valued at $2,072,000 after acquiring an additional 14,843 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Arista Networks

In related news, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $118.47, for a total transaction of $9,477,600.00. Following the completion of the sale, the senior vice president now owns 12,976 shares in the company, valued at $1,537,266.72. This trade represents a 86.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John F. Mccool sold 288 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $108.70, for a total transaction of $31,305.60. The disclosure for this sale can be found here. Insiders sold 411,289 shares of company stock worth $42,355,417 in the last 90 days. 3.54% of the stock is owned by corporate insiders.

Arista Networks Trading Down 1.2 %

Arista Networks stock opened at $83.31 on Friday. The firm has a 50-day moving average price of $108.92 and a 200-day moving average price of $102.08. The firm has a market capitalization of $105.07 billion, a PE ratio of 37.53, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.57.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $1.90 billion. As a group, sell-side analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ANET shares. Wells Fargo & Company raised their target price on shares of Arista Networks from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Barclays lifted their price objective 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. The Goldman Sachs Group lifted their price objective on shares of Arista Networks from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Evercore ISI lifted their price objective 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, StockNews.com cut shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $114.00.

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.