OLD National Bancorp IN Invests $235,000 in Arista Networks, Inc. (NYSE:ANET)

OLD National Bancorp IN acquired a new stake in shares of Arista Networks, Inc. (NYSE:ANET) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 999 shares of the technology company’s stock, valued at approximately $235,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Arista Networks by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 27,898,836 shares of the technology company’s stock valued at $5,131,433,000 after buying an additional 84,212 shares in the last quarter. FMR LLC increased its position in Arista Networks by 32.2% during the 3rd quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock valued at $1,897,906,000 after buying an additional 2,515,864 shares in the last quarter. WCM Investment Management LLC increased its position in Arista Networks by 0.5% during the 4th quarter. WCM Investment Management LLC now owns 3,024,220 shares of the technology company’s stock valued at $716,649,000 after buying an additional 16,081 shares in the last quarter. Northern Trust Corp increased its position in Arista Networks by 5.0% during the 3rd quarter. Northern Trust Corp now owns 2,403,738 shares of the technology company’s stock valued at $442,120,000 after buying an additional 114,978 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in Arista Networks by 31.6% during the 3rd quarter. Jennison Associates LLC now owns 1,792,867 shares of the technology company’s stock valued at $329,762,000 after purchasing an additional 430,309 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, Director Yvonne Wassenaar sold 224 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $255.29, for a total transaction of $57,184.96. Following the sale, the director now directly owns 2,827 shares of the company’s stock, valued at $721,704.83. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Jayshree Ullal sold 22,000 shares of Arista Networks stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $303.00, for a total value of $6,666,000.00. Following the sale, the chief executive officer now directly owns 1,665,300 shares of the company’s stock, valued at $504,585,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Yvonne Wassenaar sold 224 shares of Arista Networks stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $255.29, for a total value of $57,184.96. Following the completion of the sale, the director now directly owns 2,827 shares in the company, valued at $721,704.83. The disclosure for this sale can be found here. Insiders have sold a total of 333,494 shares of company stock valued at $95,632,321 over the last ninety days. 18.99% of the stock is currently owned by company insiders.

Arista Networks Stock Performance

NYSE ANET opened at $264.57 on Friday. The company has a market capitalization of $82.71 billion, a PE ratio of 40.27, a price-to-earnings-growth ratio of 2.18 and a beta of 1.09. The business’s fifty day moving average is $279.09 and its 200 day moving average is $246.85. Arista Networks, Inc. has a fifty-two week low of $131.68 and a fifty-two week high of $307.74.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.38. The business had revenue of $1.54 billion for 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%. The business’s quarterly revenue was up 20.8% on a year-over-year basis. During the same period last year, the firm earned $1.25 earnings per share. On average, sell-side analysts forecast that Arista Networks, Inc. will post 6.7 EPS for the current year.

Analyst Ratings Changes

Several brokerages have commented on ANET. The Goldman Sachs Group increased their target price on Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Melius upgraded Arista Networks from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. Melius Research upgraded Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a research note on Monday, January 8th. Needham & Company LLC reiterated a “buy” rating and set a $320.00 target price on shares of Arista Networks in a research note on Tuesday, February 13th. Finally, Oppenheimer restated a “market perform” rating on shares of Arista Networks in a research note on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Arista Networks presently has an average rating of “Moderate Buy” and an average target price of $275.59.

Arista Networks 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.