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

CENTRAL TRUST Co cut its position in Arista Networks, Inc. (NYSE:ANET) by 38.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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.

A number of other institutional investors have also recently made changes to their positions in the company. GQG Partners LLC bought a new stake in Arista Networks in the 1st quarter valued at about $881,848,000. Swedbank AB bought a new stake in shares of Arista Networks in the first quarter valued at approximately $521,767,000. Ameriprise Financial Inc. lifted its stake in shares of Arista Networks by 97.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company’s stock valued at $628,966,000 after buying an additional 884,703 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Arista Networks by 39,841.1% in the 3rd quarter. International Assets Investment Management LLC now owns 875,110 shares of the technology company’s stock worth $3,358,850,000 after buying an additional 872,919 shares during the period. Finally, 1832 Asset Management L.P. grew its stake in Arista Networks by 4,160.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 515,700 shares of the technology company’s stock valued at $180,743,000 after buying an additional 503,597 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

ANET has been the subject of a number of recent research reports. Citigroup boosted their price objective on shares of Arista Networks from $385.00 to $460.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Evercore ISI raised their price objective on Arista Networks from $400.00 to $425.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Jefferies Financial Group boosted their target price on Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Rosenblatt Securities raised their price target on Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a research report on Wednesday, July 31st. Finally, Needham & Company LLC reissued a “buy” rating and set a $375.00 price objective on shares of Arista Networks in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $369.50.

Arista Networks Trading Down 0.4 %

Shares of NYSE:ANET opened at $394.09 on Friday. Arista Networks, Inc. has a 12-month low of $168.25 and a 12-month high of $422.73. The stock has a market capitalization of $123.49 billion, a price-to-earnings ratio of 54.89, a PEG ratio of 3.21 and a beta of 1.07. The stock has a fifty day simple moving average of $372.10 and a two-hundred day simple moving average of $334.86.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, beating the consensus estimate of $1.72 by $0.38. The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.66 billion. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. Arista Networks’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.41 EPS. As a group, equities research analysts predict that Arista Networks, Inc. will post 7.38 EPS for the current year.

Insider Activity at Arista Networks

In related news, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $342.28, for a total value of $684,560.00. Following the transaction, the director now directly owns 50,946 shares of the company’s stock, valued at approximately $17,437,796.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $342.28, for a total value of $684,560.00. Following the completion of the transaction, the director now owns 50,946 shares of the company’s stock, valued at approximately $17,437,796.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kelly Bodnar Battles sold 216 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $324.02, for a total transaction of $69,988.32. Following the sale, the director now directly owns 2,726 shares in the company, valued at approximately $883,278.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,570 shares of company stock valued at $21,474,782 over the last 90 days. Corporate insiders own 3.54% of the company’s stock.

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.