UNIVEST FINANCIAL Corp Buys Shares of 905 Arista Networks, Inc. (NYSE:ANET)

UNIVEST FINANCIAL Corp purchased a new stake in Arista Networks, Inc. (NYSE:ANET) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 905 shares of the technology company’s stock, valued at approximately $213,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ANET. Larson Financial Group LLC acquired a new position in Arista Networks in the 3rd quarter worth about $28,000. First Command Advisory Services Inc. bought a new position in Arista Networks in the 3rd quarter valued at approximately $29,000. BluePath Capital Management LLC acquired a new stake in Arista Networks during the 3rd quarter worth approximately $33,000. NBC Securities Inc. acquired a new stake in Arista Networks during the 3rd quarter worth approximately $33,000. Finally, Atticus Wealth Management LLC grew its holdings in Arista Networks by 3,625.0% during the 4th quarter. Atticus Wealth Management LLC now owns 149 shares of the technology company’s stock worth $35,000 after acquiring an additional 145 shares during the last quarter. 82.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on ANET shares. Oppenheimer reiterated a “market perform” rating on shares of Arista Networks in a report on Tuesday, February 13th. Needham & Company LLC reissued a “buy” rating and set a $320.00 target price on shares of Arista Networks in a research report on Tuesday, February 13th. JMP Securities restated a “market outperform” rating and issued a $325.00 price target on shares of Arista Networks in a research report on Tuesday, February 13th. Barclays increased their price objective 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, Rosenblatt Securities restated a “sell” rating and issued a $210.00 target price on shares of Arista Networks in a report on Friday, April 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $285.53.

Arista Networks Price Performance

Shares of NYSE:ANET traded up $4.42 during trading on Monday, reaching $278.82. 2,030,771 shares of the stock were exchanged, compared to its average volume of 2,450,893. Arista Networks, Inc. has a 1-year low of $133.42 and a 1-year high of $307.74. The stock has a fifty day moving average of $279.18 and a two-hundred day moving average of $250.63. The firm has a market cap of $87.17 billion, a price-to-earnings ratio of 42.44, a price-to-earnings-growth ratio of 2.33 and a beta of 1.13.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, topping 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 firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the prior year, the company posted $1.25 earnings per share. The business’s revenue was up 20.8% on a year-over-year basis. Sell-side analysts forecast that Arista Networks, Inc. will post 6.74 EPS for the current 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 on Monday, February 12th. The shares were sold at an average price of $284.31, for a total transaction of $5,686,200.00. Following the transaction, the senior vice president now owns 3,244 shares in the company, valued at $922,301.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $284.31, for a total transaction of $5,686,200.00. Following the transaction, the senior vice president now owns 3,244 shares in the company, valued at $922,301.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jayshree Ullal sold 87,418 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $278.81, for a total transaction of $24,373,012.58. Following the transaction, the chief executive officer now owns 17,681 shares in the company, valued at approximately $4,929,639.61. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 337,474 shares of company stock worth $96,640,840. Insiders own 3.54% of the company’s stock.

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.