Hancock Whitney Corp Has $12.71 Million Stake in Arista Networks, Inc. (NYSE:ANET)

Hancock Whitney Corp reduced its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 0.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,256 shares of the technology company’s stock after selling 205 shares during the quarter. Hancock Whitney Corp’s holdings in Arista Networks were worth $12,707,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of ANET. Benjamin Edwards Inc. bought a new stake in Arista Networks during the 1st quarter worth about $26,000. Beacon Capital Management LLC raised its stake in shares of Arista Networks by 500.0% during the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock worth $27,000 after buying an additional 65 shares during the last quarter. LGT Financial Advisors LLC acquired a new position in Arista Networks in the second quarter valued at approximately $27,000. Financial Synergies Wealth Advisors Inc. boosted its stake in Arista Networks by 872.7% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock valued at $31,000 after acquiring an additional 96 shares during the last quarter. Finally, Byrne Asset Management LLC acquired a new stake in Arista Networks during the 2nd quarter worth $33,000. Institutional investors own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ANET. Morgan Stanley raised their price target on Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday, July 18th. Jefferies Financial Group raised their target price on Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Needham & Company LLC reiterated a “buy” rating and issued a $375.00 price target on shares of Arista Networks in a research report on Wednesday, July 31st. Citigroup boosted their price objective on shares of Arista Networks from $330.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Finally, KeyCorp increased their target price on shares of Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, Arista Networks has a consensus rating of “Moderate Buy” and an average price target of $358.63.

Arista Networks Stock Up 1.4 %

NYSE ANET opened at $384.46 on Friday. The firm’s 50 day moving average is $341.55 and its 200-day moving average is $316.46. The company has a market capitalization of $120.48 billion, a PE ratio of 53.55, a price-to-earnings-growth ratio of 2.70 and a beta of 1.07. Arista Networks, Inc. has a 12-month low of $168.25 and a 12-month high of $385.50.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.38. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same period in the previous year, the business earned $1.41 EPS. The company’s revenue was up 15.9% compared to the same quarter last year. As a group, sell-side analysts expect that Arista Networks, Inc. will post 7.38 EPS for the current year.

Insider Activity at Arista Networks

In related news, CEO Jayshree Ullal sold 25,000 shares of the firm’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $347.00, for a total value of $8,675,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,600,800 shares of the company’s stock, valued at $555,477,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Arista Networks news, CEO Jayshree Ullal sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $347.00, for a total value of $8,675,000.00. Following the sale, the chief executive officer now owns 1,600,800 shares in the company, valued at $555,477,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Kenneth Duda sold 1,689 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $321.28, for a total value of $542,641.92. Following the transaction, the senior vice president now directly owns 182,600 shares in the company, valued at $58,665,728. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 107,361 shares of company stock valued at $38,024,123. Insiders own 3.54% of the company’s stock.

Arista Networks Company 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.