M&T Bank Corp Buys 4,087 Shares of Arista Networks, Inc. $ANET

M&T Bank Corp grew its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 3.3% during the 4th quarter, HoldingsChannel reports. The fund owned 126,314 shares of the technology company’s stock after buying an additional 4,087 shares during the period. M&T Bank Corp’s holdings in Arista Networks were worth $16,551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in ANET. Brighton Jones LLC lifted its position in shares of Arista Networks by 321.7% during the fourth quarter. Brighton Jones LLC now owns 7,806 shares of the technology company’s stock worth $863,000 after acquiring an additional 5,955 shares in the last quarter. Revolve Wealth Partners LLC purchased a new stake in shares of Arista Networks during the fourth quarter worth $202,000. Bison Wealth LLC purchased a new stake in shares of Arista Networks during the fourth quarter worth $251,000. Sivia Capital Partners LLC lifted its position in shares of Arista Networks by 48.4% during the second quarter. Sivia Capital Partners LLC now owns 10,723 shares of the technology company’s stock worth $1,097,000 after acquiring an additional 3,496 shares in the last quarter. Finally, Gamco Investors INC. ET AL lifted its position in shares of Arista Networks by 31.3% during the second quarter. Gamco Investors INC. ET AL now owns 4,193 shares of the technology company’s stock worth $429,000 after acquiring an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Up 0.0%

ANET opened at $172.70 on Tuesday. The business’s fifty day simple moving average is $141.84 and its 200 day simple moving average is $137.69. Arista Networks, Inc. has a 52 week low of $82.80 and a 52 week high of $179.80. The stock has a market cap of $217.46 billion, a PE ratio of 62.57, a P/E/G ratio of 3.03 and a beta of 1.67.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Thursday, February 12th. The technology company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.07. Arista Networks had a return on equity of 30.37% and a net margin of 38.99%.The firm had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.38 billion. During the same period last year, the firm earned $0.66 earnings per share. The company’s revenue for the quarter was up 28.9% compared to the same quarter last year. As a group, equities analysts anticipate that Arista Networks, Inc. will post 3.17 earnings per share for the current year.

Insider Transactions at Arista Networks

In other news, CEO Jayshree Ullal sold 428,000 shares of the firm’s stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $177.44, for a total transaction of $75,944,320.00. Following the transaction, the chief executive officer directly owned 5,209,207 shares of the company’s stock, valued at approximately $924,321,690.08. This trade represents a 7.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kenneth Duda sold 32,000 shares of the stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $134.14, for a total transaction of $4,292,480.00. Following the sale, the insider owned 12,976 shares of the company’s stock, valued at approximately $1,740,600.64. This represents a 71.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,494,729 shares of company stock worth $245,304,519 over the last ninety days. Insiders own 3.39% of the company’s stock.

Analyst Upgrades and Downgrades

ANET has been the topic of several recent research reports. Wells Fargo & Company increased their target price on Arista Networks from $175.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, February 13th. KeyCorp restated an “overweight” rating and set a $178.00 target price (up from $170.00) on shares of Arista Networks in a research report on Friday, February 13th. Needham & Company LLC increased their target price on Arista Networks from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. The Goldman Sachs Group restated a “buy” rating and set a $188.00 target price (up from $165.00) on shares of Arista Networks in a research report on Friday, February 13th. Finally, Barclays restated an “overweight” rating and set a $184.00 target price (up from $183.00) on shares of Arista Networks in a research report on Friday, February 13th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $178.67.

About Arista Networks

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.