First United Bank & Trust Sells 325 Shares of Arista Networks, Inc. (NYSE:ANET)

First United Bank & Trust lessened its stake in Arista Networks, Inc. (NYSE:ANET) by 2.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,181 shares of the technology company’s stock after selling 325 shares during the quarter. Arista Networks makes up about 1.7% of First United Bank & Trust’s holdings, making the stock its 12th largest position. First United Bank & Trust’s holdings in Arista Networks were worth $4,675,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Beacon Capital Management LLC raised its stake in shares of Arista Networks by 500.0% in the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after buying an additional 65 shares during the period. LGT Financial Advisors LLC bought a new stake in shares of Arista Networks in the second quarter valued at $27,000. Benjamin Edwards Inc. bought a new stake in shares of Arista Networks in the first quarter valued at $26,000. Byrne Asset Management LLC purchased a new position in shares of Arista Networks in the second quarter valued at $33,000. Finally, Sugarloaf Wealth Management LLC purchased a new position in shares of Arista Networks in the second quarter valued at $35,000. Institutional investors own 82.47% of the company’s stock.

Arista Networks Price Performance

ANET opened at $392.38 on Wednesday. The business has a 50 day simple moving average of $362.69 and a two-hundred day simple moving average of $329.52. The firm has a market capitalization of $122.96 billion, a price-to-earnings ratio of 54.65, a PEG ratio of 3.21 and a beta of 1.07. Arista Networks, Inc. has a one year low of $168.25 and a one year high of $422.73.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.38. The business had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.66 billion. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. Arista Networks’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.41 EPS. As a group, sell-side analysts expect that Arista Networks, Inc. will post 7.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $394.69, for a total transaction of $7,893,800.00. Following the transaction, the senior vice president now owns 3,244 shares in the company, valued at approximately $1,280,374.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Jayshree Ullal sold 17,752 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $354.29, for a total value of $6,289,356.08. Following the sale, the chief executive officer now owns 17,681 shares in the company, valued at $6,264,201.49. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $394.69, for a total value of $7,893,800.00. Following the completion of the sale, the senior vice president now owns 3,244 shares in the company, valued at $1,280,374.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,197 shares of company stock worth $21,326,894. Company insiders own 3.54% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Needham & Company LLC reiterated a “buy” rating and issued a $375.00 price target on shares of Arista Networks in a research report on Wednesday, July 31st. Rosenblatt Securities lifted their price target on Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a research report on Wednesday, July 31st. Jefferies Financial Group boosted their target price on Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Piper Sandler boosted their target price on Arista Networks from $302.00 to $345.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Finally, UBS Group boosted their target price on Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Arista Networks currently has an average rating of “Moderate Buy” and an average target price of $369.50.

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.