Atlantic Union Bankshares Corp Buys 6,615 Shares of Arista Networks, Inc. (NYSE:ANET)

Atlantic Union Bankshares Corp raised its stake in Arista Networks, Inc. (NYSE:ANET) by 300.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,820 shares of the technology company’s stock after buying an additional 6,615 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Arista Networks were worth $975,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Caitlin John LLC lifted its stake in Arista Networks by 174.7% in the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after buying an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC lifted its stake in Arista Networks by 335.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock valued at $27,000 after buying an additional 191 shares in the last quarter. Cranbrook Wealth Management LLC lifted its stake in Arista Networks by 300.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after buying an additional 198 shares in the last quarter. Trust Co. of Vermont lifted its stake in Arista Networks by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after buying an additional 198 shares in the last quarter. Finally, New Millennium Group LLC lifted 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 valued at $29,000 after buying an additional 195 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on ANET shares. Barclays lifted their price target on shares of Arista Networks from $125.00 to $126.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Morgan Stanley boosted their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Citigroup boosted their price objective on shares of Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. StockNews.com lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Finally, Piper Sandler reissued a “neutral” rating and issued a $108.00 price objective (up previously from $106.00) on shares of Arista Networks in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Arista Networks presently has an average rating of “Moderate Buy” and an average target price of $114.00.

Insider Activity

In other news, insider John F. Mccool sold 288 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $108.70, for a total value of $31,305.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $118.47, for a total value of $9,477,600.00. Following the sale, the senior vice president now directly owns 12,976 shares in the company, valued at $1,537,266.72. This represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 411,289 shares of company stock valued at $42,355,417. 3.54% of the stock is owned by insiders.

Arista Networks Price Performance

NYSE:ANET opened at $83.31 on Friday. The company has a market cap of $105.07 billion, a P/E ratio of 37.53, a P/E/G ratio of 3.10 and a beta of 1.08. The firm’s fifty day moving average price is $108.92 and its two-hundred day moving average price is $102.08. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.57.

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