Amalgamated Bank Has $15.01 Million Position in Arista Networks, Inc. (NYSE:ANET)

Amalgamated Bank lessened its position in Arista Networks, Inc. (NYSE:ANET) by 5.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 63,737 shares of the technology company’s stock after selling 4,025 shares during the period. Amalgamated Bank’s holdings in Arista Networks were worth $15,011,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in ANET. Sandy Spring Bank grew its stake in Arista Networks by 33.6% during the fourth quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock worth $37,000 after buying an additional 39 shares during the last quarter. Fulton Breakefield Broenniman LLC increased its holdings in Arista Networks by 1.8% during the 4th quarter. Fulton Breakefield Broenniman LLC now owns 2,255 shares of the technology company’s stock valued at $531,000 after purchasing an additional 40 shares in the last quarter. West Family Investments Inc. raised its position in Arista Networks by 3.3% in the 4th quarter. West Family Investments Inc. now owns 1,267 shares of the technology company’s stock valued at $298,000 after purchasing an additional 40 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in Arista Networks by 2.3% in the fourth quarter. Venturi Wealth Management LLC now owns 1,839 shares of the technology company’s stock worth $433,000 after purchasing an additional 41 shares in the last quarter. Finally, PDS Planning Inc grew its holdings in shares of Arista Networks by 3.1% during the fourth quarter. PDS Planning Inc now owns 1,376 shares of the technology company’s stock worth $324,000 after purchasing an additional 41 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Insider Activity at Arista Networks

In other news, CEO Jayshree Ullal sold 87,418 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $278.81, for a total value of $24,373,012.58. Following the sale, the chief executive officer now directly owns 17,681 shares in the company, valued at $4,929,639.61. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Jayshree Ullal sold 87,418 shares of Arista Networks stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $278.81, for a total value of $24,373,012.58. Following the sale, the chief executive officer now directly owns 17,681 shares in the company, valued at $4,929,639.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Marc Taxay sold 1,044 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $254.54, for a total transaction of $265,739.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 335,974 shares of company stock valued at $96,252,685. 18.99% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Piper Sandler upped their price target on shares of Arista Networks from $254.00 to $268.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 13th. KeyCorp boosted their price objective on shares of Arista Networks from $232.00 to $287.00 and gave the stock an “overweight” rating in a research report on Thursday, January 18th. Rosenblatt Securities reiterated a “sell” rating and issued a $210.00 price objective on shares of Arista Networks in a research report on Friday, April 12th. Melius Research raised Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a research note on Monday, January 8th. Finally, Barclays raised their price target on Arista Networks from $272.00 to $311.00 and gave the company an “overweight” rating in a report on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $285.53.

Arista Networks Stock Performance

ANET stock traded up $12.52 during midday trading on Friday, hitting $274.38. 2,883,165 shares of the company’s stock were exchanged, compared to its average volume of 2,455,522. Arista Networks, Inc. has a one year low of $131.68 and a one year high of $307.74. The company has a market cap of $86.05 billion, a PE ratio of 41.76, a price-to-earnings-growth ratio of 2.18 and a beta of 1.13. The stock’s fifty day moving average price is $278.94 and its 200-day moving average price is $248.71.

Arista Networks (NYSE:ANET) last posted its earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.38. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. Arista Networks’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.25 EPS. On average, analysts expect that Arista Networks, Inc. will post 6.7 EPS 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.