Stock Yards Bank & Trust Co. Makes New Investment in Arista Networks, Inc. (NYSE:ANET)

Stock Yards Bank & Trust Co. purchased a new position in shares of Arista Networks, Inc. (NYSE:ANET) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,192 shares of the technology company’s stock, valued at approximately $242,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GW Henssler & Associates Ltd. raised its holdings in shares of Arista Networks by 3.6% in the 3rd quarter. GW Henssler & Associates Ltd. now owns 63,244 shares of the technology company’s stock worth $24,274,000 after purchasing an additional 2,219 shares in the last quarter. Sumitomo Life Insurance Co. raised its holdings in shares of Arista Networks by 69.8% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 9,028 shares of the technology company’s stock worth $3,465,000 after purchasing an additional 3,711 shares in the last quarter. Walkner Condon Financial Advisors LLC bought a new stake in shares of Arista Networks in the 3rd quarter worth approximately $2,318,000. Greenleaf Trust increased its position in shares of Arista Networks by 20.1% in the third quarter. Greenleaf Trust now owns 13,224 shares of the technology company’s stock worth $5,076,000 after acquiring an additional 2,216 shares in the last quarter. Finally, Forsta AP Fonden increased its position in shares of Arista Networks by 10.0% in the third quarter. Forsta AP Fonden now owns 72,800 shares of the technology company’s stock worth $27,942,000 after acquiring an additional 6,600 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Stock Down 0.3 %

ANET stock opened at $115.11 on Friday. The company has a market capitalization of $145.01 billion, a price-to-earnings ratio of 55.34, a P/E/G ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.57. The firm has a 50 day moving average of $112.58 and a two-hundred day moving average of $99.48.

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

Insiders Place Their Bets

In other news, insider John F. Mccool sold 6,340 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $98.58, for a total value of $625,013.05. Following the completion of the sale, the insider now directly owns 288 shares in the company, valued at approximately $28,391.76. The trade was a 95.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $112.02, for a total transaction of $896,160.00. Following the completion of the sale, the director now owns 155,784 shares of the company’s stock, valued at $17,450,923.68. The trade was a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 255,832 shares of company stock valued at $28,538,497 over the last ninety days. Corporate insiders own 3.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ANET. 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 report on Friday, January 17th. Barclays dropped their target price on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. The Goldman Sachs Group lifted their target price 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. Wells Fargo & Company lifted their target price on shares of Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Piper Sandler reissued a “neutral” rating and issued a $105.25 target price (up from $86.25) on shares of Arista Networks in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.83.

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.