Boston Trust Walden Corp Raises Holdings in Arista Networks, Inc. (NYSE:ANET)

Boston Trust Walden Corp boosted its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 300.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,188 shares of the technology company’s stock after acquiring an additional 1,641 shares during the quarter. Boston Trust Walden Corp’s holdings in Arista Networks were worth $242,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ANET. Cranbrook Wealth Management LLC grew its position in shares of Arista Networks by 300.0% during the 4th 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 period. Trust Co. of Vermont grew its holdings in Arista Networks by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after purchasing an additional 198 shares during the period. New Millennium Group LLC increased its position in shares of Arista Networks by 300.0% in the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after buying an additional 195 shares in the last quarter. Westside Investment Management Inc. lifted its position in shares of Arista Networks by 1,012.0% during the 4th quarter. Westside Investment Management Inc. now owns 278 shares of the technology company’s stock valued at $31,000 after buying an additional 253 shares in the last quarter. Finally, Costello Asset Management INC grew its stake in Arista Networks by 300.0% in the 4th quarter. Costello Asset Management INC now owns 300 shares of the technology company’s stock valued at $33,000 after acquiring an additional 225 shares during the period. 82.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ANET has been the subject of a number of research analyst reports. The Goldman Sachs Group upped their price objective on shares of Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. UBS Group raised their price target on shares of Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a research note on Friday, November 8th. Barclays cut their price objective on Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. Rosenblatt Securities lifted their price target on Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a research note on Friday, November 8th. Finally, Piper Sandler reissued a “neutral” rating and issued a $105.25 price objective (up from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Arista Networks presently has a consensus rating of “Moderate Buy” and an average target price of $105.83.

Arista Networks Price Performance

Arista Networks stock opened at $115.11 on Friday. The firm has a 50 day simple moving average of $112.58 and a 200-day simple moving average of $99.48. The stock has a market cap of $145.01 billion, a price-to-earnings ratio of 55.34, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.57.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Thursday, November 7th. The technology company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.08. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same period in the prior year, the business posted $0.41 earnings per share. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. Equities analysts expect that Arista Networks, Inc. will post 1.97 earnings per share for the current fiscal year.

Insider Transactions at Arista Networks

In other news, SVP Kenneth Duda sold 80,000 shares of the firm’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 transaction, the senior vice president now directly owns 12,976 shares in the company, valued at $1,405,171.04. This trade represents a 86.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $112.02, for a total value of $896,160.00. Following the completion of the sale, the director now owns 155,784 shares in the company, valued at $17,450,923.68. This represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 255,832 shares of company stock worth $28,538,497. 3.54% of the stock is currently owned by company insiders.

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.