Trust Investment Advisors Makes New $230,000 Investment in Arista Networks, Inc. (NYSE:ANET)

Trust Investment Advisors acquired a new stake in Arista Networks, Inc. (NYSE:ANET) in the fourth quarter, HoldingsChannel reports. The firm acquired 976 shares of the technology company’s stock, valued at approximately $230,000.

A number of other large investors also recently made changes to their positions in ANET. Larson Financial Group LLC acquired a new position in shares of Arista Networks in the 3rd quarter valued at $28,000. First Command Advisory Services Inc. acquired a new stake in Arista Networks during the third quarter worth about $29,000. Hollencrest Capital Management acquired a new stake in Arista Networks during the 1st quarter worth approximately $30,000. BluePath Capital Management LLC purchased a new position in Arista Networks in the third quarter valued at approximately $33,000. Finally, NBC Securities Inc. acquired a new position in Arista Networks during the third quarter valued at approximately $33,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Performance

Shares of ANET stock traded down $2.08 during mid-day trading on Thursday, hitting $257.19. 1,936,573 shares of the stock traded hands, compared to its average volume of 2,450,550. The firm has a market cap of $80.41 billion, a price-to-earnings ratio of 39.49, a price-to-earnings-growth ratio of 2.24 and a beta of 1.09. The company’s 50-day simple moving average is $281.39 and its 200-day simple moving average is $244.06. Arista Networks, Inc. has a twelve month low of $131.68 and a twelve month high of $307.74.

Arista Networks (NYSE:ANET) last announced its earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.38. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the previous year, the business earned $1.25 EPS. The company’s revenue was up 20.8% on a year-over-year basis. Analysts forecast that Arista Networks, Inc. will post 6.7 earnings per share for the current year.

Insider Activity at Arista Networks

In other news, Director Yvonne Wassenaar sold 186 shares of the company’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $261.41, for a total transaction of $48,622.26. Following the completion of the transaction, the director now directly owns 2,678 shares in the company, valued at $700,055.98. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Jayshree Ullal sold 733 shares of the stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $268.15, for a total value of $196,553.95. Following the completion of the transaction, the chief executive officer now owns 74,031 shares of the company’s stock, valued at $19,851,412.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Yvonne Wassenaar sold 186 shares of the firm’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $261.41, for a total transaction of $48,622.26. Following the transaction, the director now owns 2,678 shares of the company’s stock, valued at approximately $700,055.98. The disclosure for this sale can be found here. Insiders sold a total of 342,415 shares of company stock worth $98,017,152 in the last 90 days. 18.99% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ANET has been the topic of a number of recent analyst reports. JMP Securities reiterated a “market outperform” rating and issued a $325.00 price objective on shares of Arista Networks in a report on Tuesday, February 13th. Barclays upped their target price on Arista Networks from $272.00 to $311.00 and gave the company an “overweight” rating in a report on Tuesday, February 13th. Oppenheimer reissued a “market perform” rating on shares of Arista Networks in a report on Tuesday, February 13th. Morgan Stanley upped their price objective on Arista Networks from $230.00 to $272.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Finally, Piper Sandler raised their target price on Arista Networks from $254.00 to $268.00 and gave the company a “neutral” rating in a research note on Tuesday, February 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $275.59.

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.