Bank of Jackson Hole Trust Invests $149,000 in Arista Networks, Inc. (NYSE:ANET)

Bank of Jackson Hole Trust bought a new position in shares of Arista Networks, Inc. (NYSE:ANET) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 1,352 shares of the technology company’s stock, valued at approximately $149,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Stock Yards Bank & Trust Co. acquired a new position in shares of Arista Networks in the 4th quarter valued at approximately $242,000. Silver Oak Securities Incorporated grew its position in shares of Arista Networks by 395.8% in the 4th quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company’s stock valued at $2,072,000 after purchasing an additional 14,843 shares during the period. Proactive Wealth Strategies LLC grew its position in shares of Arista Networks by 387.6% in the 4th quarter. Proactive Wealth Strategies LLC now owns 6,120 shares of the technology company’s stock valued at $676,000 after purchasing an additional 4,865 shares during the period. Chevy Chase Trust Holdings LLC grew its position in shares of Arista Networks by 292.7% in the 4th quarter. Chevy Chase Trust Holdings LLC now owns 602,541 shares of the technology company’s stock valued at $66,599,000 after purchasing an additional 449,088 shares during the period. Finally, 5T Wealth LLC acquired a new position in shares of Arista Networks in the 4th quarter valued at approximately $1,046,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Arista Networks Stock Down 6.5 %

Shares of Arista Networks stock opened at $103.82 on Thursday. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.57. The stock has a market cap of $130.79 billion, a P/E ratio of 49.91, a P/E/G ratio of 2.87 and a beta of 1.09. The business’s 50 day moving average is $114.08 and its 200-day moving average is $101.54.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The company had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.90 billion. On average, sell-side analysts expect that Arista Networks, Inc. will post 1.97 EPS for the current year.

Insider Activity at Arista Networks

In related news, insider John F. Mccool sold 288 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $108.70, for a total value of $31,305.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $108.29, for a total value 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 approximately $1,405,171.04. This represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 259,944 shares of company stock worth $30,214,186. Company insiders own 3.54% of the company’s stock.

Wall Street Analysts Forecast Growth

ANET has been the subject of several research analyst reports. UBS Group boosted their price objective on Arista Networks from $106.00 to $112.00 and gave the company a “neutral” rating in a research report on Wednesday. Morgan Stanley boosted their target price on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Rosenblatt Securities restated a “sell” rating and issued a $80.00 target price on shares of Arista Networks in a research note on Tuesday. StockNews.com cut Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Finally, Evercore ISI boosted their target price on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Arista Networks presently has a consensus rating of “Moderate Buy” and an average target price of $113.79.

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.