UNIVEST FINANCIAL Corp Increases Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

UNIVEST FINANCIAL Corp boosted its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 285.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 61,639 shares of the technology company’s stock after buying an additional 45,643 shares during the quarter. UNIVEST FINANCIAL Corp’s holdings in Arista Networks were worth $6,813,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. True Wealth Design LLC boosted its position in shares of Arista Networks by 2,133.3% during the third quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock valued at $51,000 after buying an additional 128 shares during the period. Anchor Investment Management LLC lifted its stake in shares of Arista Networks by 35.0% during the 3rd quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock worth $52,000 after acquiring an additional 35 shares during the last quarter. Caitlin John LLC boosted its holdings in Arista Networks by 174.7% during the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after acquiring an additional 152 shares during the period. Capital Advisors Ltd. LLC grew its position in Arista Networks by 335.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock valued at $27,000 after acquiring an additional 191 shares during the last quarter. Finally, New Millennium Group LLC increased its stake in Arista Networks by 300.0% in the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock worth $29,000 after purchasing an additional 195 shares during the period. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Stock Performance

ANET stock opened at $86.87 on Wednesday. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.58. The firm has a market cap of $109.55 billion, a price-to-earnings ratio of 39.13, a PEG ratio of 3.10 and a beta of 1.08. The firm has a 50-day simple moving average of $101.47 and a two-hundred day simple moving average of $101.98.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. As a group, equities analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Kelly Bodnar Battles sold 1,488 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $107.13, for a total transaction of $159,409.44. Following the transaction, the director now owns 8,128 shares in the company, valued at $870,752.64. This represents a 15.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $111.51, for a total transaction of $892,080.00. Following the completion of the sale, the director now owns 163,784 shares of the company’s stock, valued at $18,263,553.84. This trade represents a 4.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 491,001 shares of company stock worth $49,112,111. Insiders own 3.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating and set a $145.00 target price on shares of Arista Networks in a research note on Wednesday, February 19th. Erste Group Bank downgraded shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 17th. StockNews.com lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Piper Sandler reiterated a “neutral” rating and issued a $108.00 price target (up previously from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. Finally, Wells Fargo & Company restated an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. One 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.