Whittier Trust Co. of Nevada Inc. Acquires 10,633 Shares of Arista Networks, Inc. (NYSE:ANET)

Whittier Trust Co. of Nevada Inc. grew its holdings in Arista Networks, Inc. (NYSE:ANET) by 299.7% in the fourth quarter, HoldingsChannel reports. The fund owned 14,181 shares of the technology company’s stock after buying an additional 10,633 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Arista Networks were worth $1,567,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Arista Networks during the third quarter worth about $1,417,000. First Horizon Advisors Inc. lifted its position in Arista Networks by 20.7% during the third quarter. First Horizon Advisors Inc. now owns 963 shares of the technology company’s stock worth $370,000 after purchasing an additional 165 shares during the period. Citizens Financial Group Inc. RI lifted its position in Arista Networks by 67.3% during the third quarter. Citizens Financial Group Inc. RI now owns 2,920 shares of the technology company’s stock worth $1,121,000 after purchasing an additional 1,175 shares during the period. LPL Financial LLC lifted its holdings in shares of Arista Networks by 2.0% in the third quarter. LPL Financial LLC now owns 250,416 shares of the technology company’s stock worth $96,114,000 after acquiring an additional 4,952 shares during the last quarter. Finally, Banco Santander S.A. bought a new position in shares of Arista Networks in the third quarter worth about $753,000. Institutional investors own 82.47% of the company’s stock.

Insider Transactions at Arista Networks

In related news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $111.51, for a total value of $892,080.00. Following the transaction, the director now directly owns 163,784 shares in the company, valued at $18,263,553.84. This trade represents a 4.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kelly Bodnar Battles sold 1,488 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $107.13, for a total value of $159,409.44. Following the completion of the transaction, the director now owns 8,128 shares in the company, valued at approximately $870,752.64. This represents a 15.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 491,001 shares of company stock valued at $49,112,111 in the last quarter. 3.54% of the stock is currently owned by company insiders.

Arista Networks Stock Performance

NYSE:ANET opened at $83.26 on Friday. The company has a market capitalization of $104.99 billion, a PE ratio of 37.50, a P/E/G ratio of 3.10 and a beta of 1.08. The company has a 50 day simple moving average of $102.53 and a two-hundred day simple moving average of $101.74. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.58.

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ANET. UBS Group raised shares of Arista Networks from a “neutral” rating to a “buy” rating and increased their target price for the stock from $112.00 to $115.00 in a report on Wednesday, March 5th. Rosenblatt Securities reissued a “sell” rating and issued a $80.00 target price on shares of Arista Networks in a report on Tuesday, February 18th. Evercore ISI increased their target price on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Piper Sandler reissued a “neutral” rating and issued a $108.00 target price (up previously from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. Finally, Erste Group Bank downgraded Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $114.00.

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.