UMB Bank n.a. Invests $1.19 Million in Arista Networks, Inc. (NYSE:ANET)

UMB Bank n.a. acquired a new stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 15,291 shares of the technology company's stock, valued at approximately $1,185,000.

Several other institutional investors also recently modified their holdings of ANET. Capital Advisors Ltd. LLC boosted its position in Arista Networks by 335.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock worth $27,000 after purchasing an additional 191 shares during the last quarter. Quarry LP raised its stake in shares of Arista Networks by 381.5% in the fourth quarter. Quarry LP now owns 260 shares of the technology company's stock worth $29,000 after buying an additional 206 shares during the period. Dunhill Financial LLC raised its stake in shares of Arista Networks by 415.7% in the fourth quarter. Dunhill Financial LLC now owns 263 shares of the technology company's stock worth $29,000 after buying an additional 212 shares during the period. Tradewinds Capital Management LLC raised its stake in shares of Arista Networks by 300.0% in the fourth quarter. Tradewinds Capital Management LLC now owns 312 shares of the technology company's stock worth $34,000 after buying an additional 234 shares during the period. Finally, Hemington Wealth Management raised its stake in shares of Arista Networks by 409.7% in the fourth quarter. Hemington Wealth Management now owns 316 shares of the technology company's stock worth $34,000 after buying an additional 254 shares during the period. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $88.18, for a total value of $705,440.00. Following the completion of the sale, the director now directly owns 123,784 shares in the company, valued at approximately $10,915,273.12. This represents a 6.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $90.07, for a total value of $7,205,600.00. Following the completion of the sale, the senior vice president now owns 12,976 shares of the company's stock, valued at $1,168,748.32. This represents a 86.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 105,690 shares of company stock worth $9,360,205 in the last quarter. 3.39% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ANET shares. BNP Paribas Exane downgraded Arista Networks from an "outperform" rating to a "neutral" rating and set a $106.00 price objective on the stock. in a research note on Wednesday. The Goldman Sachs Group decreased their price objective on Arista Networks from $130.00 to $115.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. KGI Securities downgraded Arista Networks to a "neutral" rating in a research note on Wednesday, May 7th. Rosenblatt Securities lifted their target price on Arista Networks from $85.00 to $87.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Finally, Piper Sandler reissued a "neutral" rating and set a $89.00 target price (up previously from $76.00) on shares of Arista Networks in a research note on Wednesday, May 7th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $107.38.

Arista Networks Price Performance

Shares of Arista Networks stock traded down $3.49 on Friday, reaching $92.28. The company had a trading volume of 6,205,708 shares, compared to its average volume of 9,041,699. The firm has a market cap of $115.89 billion, a price-to-earnings ratio of 41.57, a P/E/G ratio of 3.10 and a beta of 1.37. The firm's 50-day moving average price is $85.36 and its two-hundred day moving average price is $96.45. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $133.58.

Arista Networks (NYSE:ANET - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.59 by $0.06. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The company had revenue of $2 billion during the quarter, compared to analysts' expectations of $1.97 billion. During the same quarter in the previous year, the business earned $0.50 EPS. Arista Networks's revenue was up 27.6% compared to the same quarter last year. As a group, analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current year.

Arista Networks announced that its Board of Directors has authorized a stock buyback program on Tuesday, May 6th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the technology company to purchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's management believes its shares are undervalued.

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.