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

UNIVEST FINANCIAL Corp bought a new stake in shares of Arista Networks, Inc. (NYSE:ANET) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 905 shares of the technology company’s stock, valued at approximately $213,000.

Several other large investors also recently added to or reduced their stakes in the company. Rakuten Securities Inc. purchased a new stake in shares of Arista Networks during the 4th quarter worth about $35,000. Atticus Wealth Management LLC increased its stake in shares of 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 purchasing an additional 145 shares during the last quarter. Larson Financial Group LLC bought a new position in shares of Arista Networks during the 3rd quarter valued at $28,000. Sandy Spring Bank raised its holdings in shares of Arista Networks by 33.6% during the 4th quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock valued at $37,000 after purchasing an additional 39 shares in the last quarter. Finally, First Command Advisory Services Inc. bought a new position in shares of Arista Networks during the 3rd quarter valued at $29,000. 82.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider John F. Mccool sold 420 shares of Arista Networks stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $266.08, for a total transaction of $111,753.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Yvonne Wassenaar sold 224 shares of Arista Networks stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total transaction of $57,184.96. Following the completion of the transaction, the director now directly owns 2,827 shares of the company’s stock, valued at approximately $721,704.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John F. Mccool sold 420 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $266.08, for a total transaction of $111,753.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 337,474 shares of company stock worth $96,640,840. Corporate insiders own 3.54% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Melius Research upgraded shares of Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a report on Monday, January 8th. Barclays raised their price target on shares of Arista Networks from $272.00 to $311.00 and gave the company an “overweight” rating in a report on Tuesday, February 13th. Oppenheimer restated a “market perform” rating on shares of Arista Networks in a report on Tuesday, February 13th. Evercore ISI reiterated an “outperform” rating and issued a $300.00 target price on shares of Arista Networks in a research note on Wednesday, March 27th. Finally, KeyCorp raised their target price on shares of Arista Networks from $232.00 to $287.00 and gave the company an “overweight” rating in a research note on Thursday, January 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Arista Networks has an average rating of “Moderate Buy” and an average target price of $285.53.

Arista Networks Price Performance

Shares of Arista Networks stock traded up $4.42 during trading on Monday, hitting $278.82. 2,030,771 shares of the company’s stock traded hands, compared to its average volume of 2,450,893. The firm’s fifty day moving average price is $279.18 and its 200 day moving average price is $250.63. Arista Networks, Inc. has a twelve month low of $133.42 and a twelve month high of $307.74. The company has a market cap of $87.17 billion, a PE ratio of 42.44, a PEG ratio of 2.33 and a beta of 1.13.

Arista Networks (NYSE:ANET) last issued its earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share 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 business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period in the previous year, the business earned $1.25 EPS. The firm’s revenue was up 20.8% on a year-over-year basis. As a group, equities research analysts anticipate that Arista Networks, Inc. will post 6.74 earnings per share for the current year.

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.