Riverview Trust Co Purchases 88 Shares of Arista Networks, Inc. (NYSE:ANET)

Riverview Trust Co lifted its position in Arista Networks, Inc. (NYSE:ANET) by 64.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 225 shares of the technology company’s stock after buying an additional 88 shares during the period. Riverview Trust Co’s holdings in Arista Networks were worth $86,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ANET. First Affirmative Financial Network boosted its position in shares of Arista Networks by 4.3% in the 3rd quarter. First Affirmative Financial Network now owns 682 shares of the technology company’s stock worth $262,000 after purchasing an additional 28 shares in the last quarter. FCG Investment Co increased its holdings in shares of Arista Networks by 2.3% during the second quarter. FCG Investment Co now owns 1,271 shares of the technology company’s stock valued at $445,000 after acquiring an additional 29 shares in the last quarter. Everpar Advisors LLC raised its position in shares of Arista Networks by 1.5% in the 3rd quarter. Everpar Advisors LLC now owns 1,907 shares of the technology company’s stock valued at $732,000 after purchasing an additional 29 shares during the last quarter. Old Port Advisors boosted its stake in Arista Networks by 3.5% in the 1st quarter. Old Port Advisors now owns 955 shares of the technology company’s stock worth $277,000 after purchasing an additional 32 shares in the last quarter. Finally, IAM Advisory LLC increased its stake in Arista Networks by 1.8% during the 3rd quarter. IAM Advisory LLC now owns 1,858 shares of the technology company’s stock valued at $713,000 after purchasing an additional 32 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. The Goldman Sachs Group upped their target price on Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. UBS Group raised their price objective on Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Morgan Stanley upped their target price on Arista Networks from $325.00 to $355.00 and gave the company an “overweight” rating in a research report on Thursday, July 18th. Needham & Company LLC restated a “buy” rating and set a $375.00 price objective on shares of Arista Networks in a research note on Wednesday, July 31st. Finally, Evercore ISI increased their price objective on shares of Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $369.50.

Arista Networks Stock Performance

Shares of NYSE ANET opened at $402.00 on Friday. The firm has a market cap of $125.97 billion, a PE ratio of 55.99, 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. The firm has a fifty day moving average of $367.25 and a 200 day moving average of $331.31.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.38. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same period last year, the company posted $1.41 EPS. Arista Networks’s quarterly revenue was up 15.9% compared to the same quarter last year. On average, equities analysts predict that Arista Networks, Inc. will post 7.38 EPS for the current fiscal year.

Insider Activity at Arista Networks

In other news, SVP Marc Taxay sold 628 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $350.50, for a total transaction of $220,114.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Jayshree Ullal sold 832 shares of Arista Networks stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $318.12, for a total transaction of $264,675.84. Following the transaction, the chief executive officer now owns 17,681 shares in the company, valued at $5,624,679.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Marc Taxay sold 628 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $350.50, for a total transaction of $220,114.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,197 shares of company stock valued at $21,326,894. 3.54% of the stock is owned by insiders.

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.