Amalgamated Bank Has $15.01 Million Holdings in Arista Networks, Inc. (NYSE:ANET)

Amalgamated Bank cut its position in shares of Arista Networks, Inc. (NYSE:ANET) by 5.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 63,737 shares of the technology company’s stock after selling 4,025 shares during the quarter. Amalgamated Bank’s holdings in Arista Networks were worth $15,011,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. AXQ Capital LP bought a new position in shares of Arista Networks during the 3rd quarter worth approximately $791,000. Advisor Resource Council grew its holdings in Arista Networks by 507.9% in the fourth quarter. Advisor Resource Council now owns 7,021 shares of the technology company’s stock worth $1,653,000 after purchasing an additional 5,866 shares during the period. Bleakley Financial Group LLC increased its stake in Arista Networks by 4.6% in the fourth quarter. Bleakley Financial Group LLC now owns 4,445 shares of the technology company’s stock valued at $1,047,000 after purchasing an additional 194 shares in the last quarter. WCM Investment Management LLC raised its holdings in shares of Arista Networks by 0.5% during the fourth quarter. WCM Investment Management LLC now owns 3,024,220 shares of the technology company’s stock valued at $716,649,000 after purchasing an additional 16,081 shares during the period. Finally, abrdn plc boosted its position in shares of Arista Networks by 62.7% during the 4th quarter. abrdn plc now owns 113,851 shares of the technology company’s stock worth $26,813,000 after purchasing an additional 43,889 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Insider Buying and Selling

In other news, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $255.83, for a total transaction of $511,660.00. Following the completion of the transaction, the director now directly owns 56,946 shares in the company, valued at approximately $14,568,495.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $255.83, for a total transaction of $511,660.00. Following the completion of the transaction, the director now owns 56,946 shares of the company’s stock, valued at $14,568,495.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $284.31, for a total transaction of $5,686,200.00. Following the completion of the transaction, the senior vice president now owns 3,244 shares in the company, valued at $922,301.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 335,974 shares of company stock valued at $96,252,685. Company insiders own 18.99% of the company’s stock.

Arista Networks Trading Up 4.8 %

Shares of NYSE ANET traded up $12.52 during mid-day trading on Friday, hitting $274.38. The company had a trading volume of 2,883,165 shares, compared to its average volume of 2,455,522. Arista Networks, Inc. has a 1 year low of $131.68 and a 1 year high of $307.74. The company has a market capitalization of $86.05 billion, a price-to-earnings ratio of 41.76, a P/E/G ratio of 2.18 and a beta of 1.13. The stock’s 50-day moving average price is $278.94 and its 200-day moving average price is $248.71.

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

Analyst Ratings Changes

ANET has been the topic of a number of research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $320.00 price target on shares of Arista Networks in a research note on Tuesday, February 13th. Oppenheimer reissued a “market perform” rating on shares of Arista Networks in a research report on Tuesday, February 13th. Melius raised shares of Arista Networks from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. Barclays boosted their target price on shares of Arista Networks from $272.00 to $311.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 13th. Finally, Piper Sandler lifted their price target 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 investment analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $285.53.

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.