Hancock Whitney Corp Increases Stock Position in Arista Networks, Inc. (NYSE:ANET)

Hancock Whitney Corp increased its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 310.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 147,517 shares of the technology company’s stock after buying an additional 111,576 shares during the period. Hancock Whitney Corp’s holdings in Arista Networks were worth $16,305,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Caitlin John LLC raised its holdings 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 acquiring an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC grew its position in shares of Arista Networks by 335.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock worth $27,000 after acquiring an additional 191 shares during the last quarter. Cranbrook Wealth Management LLC raised its position in Arista Networks by 300.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after purchasing an additional 198 shares during the last quarter. Trust Co. of Vermont grew its position in Arista Networks by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock worth $29,000 after purchasing an additional 198 shares during the last quarter. Finally, New Millennium Group LLC raised its holdings in shares of 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 during the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $112.02, for a total value of $896,160.00. Following the completion of the sale, the director now owns 155,784 shares of the company’s stock, valued at approximately $17,450,923.68. This represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $115.61, for a total value of $9,248,800.00. Following the sale, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at approximately $1,500,155.36. The trade was a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 410,863 shares of company stock worth $39,344,612. 3.54% of the stock is currently owned by company insiders.

Arista Networks Stock Performance

Shares of NYSE ANET opened at $70.81 on Thursday. The business has a 50 day simple moving average of $81.85 and a 200 day simple moving average of $98.68. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $133.58. The stock has a market cap of $88.91 billion, a price-to-earnings ratio of 31.90, a PEG ratio of 3.10 and a beta of 1.30.

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

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Morgan Stanley reduced their price objective on shares of Arista Networks from $118.00 to $73.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Piper Sandler dropped their price objective on Arista Networks from $108.00 to $76.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Arista Networks in a research note on Monday, March 3rd. JPMorgan Chase & Co. dropped their price target on Arista Networks from $140.00 to $110.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Finally, Erste Group Bank cut shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $104.29.

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.