Bank OZK Has $1.81 Million Stock Position in Arista Networks, Inc. (NYSE:ANET)

Bank OZK boosted its position in Arista Networks, Inc. (NYSE:ANET) by 2.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 7,671 shares of the technology company’s stock after purchasing an additional 179 shares during the period. Bank OZK’s holdings in Arista Networks were worth $1,807,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. AXQ Capital LP acquired a new stake in Arista Networks in the 3rd quarter valued at about $791,000. Advisor Resource Council raised its holdings in Arista Networks by 507.9% in the 4th quarter. Advisor Resource Council now owns 7,021 shares of the technology company’s stock valued at $1,653,000 after acquiring an additional 5,866 shares during the period. Bleakley Financial Group LLC raised its holdings in Arista Networks by 4.6% in the 4th quarter. Bleakley Financial Group LLC now owns 4,445 shares of the technology company’s stock valued at $1,047,000 after acquiring an additional 194 shares during the period. WCM Investment Management LLC raised its holdings in Arista Networks by 0.5% in 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 acquiring an additional 16,081 shares during the period. Finally, abrdn plc raised its holdings in Arista Networks by 62.7% in the 4th quarter. abrdn plc now owns 113,851 shares of the technology company’s stock valued at $26,813,000 after acquiring an additional 43,889 shares during the period. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Arista Networks Price Performance

NYSE:ANET traded down $0.06 during mid-day trading on Friday, reaching $264.70. The stock had a trading volume of 2,521,905 shares, compared to its average volume of 2,317,526. Arista Networks, Inc. has a 12 month low of $131.68 and a 12 month high of $307.74. The stock has a market capitalization of $83.01 billion, a PE ratio of 40.27, a P/E/G ratio of 2.26 and a beta of 1.09. The stock has a 50-day simple moving average of $279.09 and a two-hundred day simple moving average of $246.85.

Arista Networks (NYSE:ANET) last issued its earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.38. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The company’s quarterly revenue was up 20.8% on a year-over-year basis. During the same quarter last year, the business posted $1.25 earnings per share. Equities analysts expect that Arista Networks, Inc. will post 6.7 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ANET. JMP Securities reissued a “market outperform” rating and issued a $325.00 price target on shares of Arista Networks in a report on Tuesday, February 13th. Melius raised shares of Arista Networks from a “hold” rating to a “buy” rating in a report on Monday, January 8th. Piper Sandler raised their target price on shares of Arista Networks from $254.00 to $268.00 and gave the stock a “neutral” rating in a report on Tuesday, February 13th. Morgan Stanley raised their target price on shares of Arista Networks from $230.00 to $272.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $300.00 target price on shares of Arista Networks in a report on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $275.59.

Insider Activity at Arista Networks

In related news, CEO Jayshree Ullal sold 22,000 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $303.00, for a total value of $6,666,000.00. Following the transaction, the chief executive officer now owns 1,665,300 shares in the company, valued at $504,585,900. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Arista Networks news, CEO Jayshree Ullal sold 22,000 shares of Arista Networks stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $303.00, for a total value of $6,666,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,665,300 shares of the company’s stock, valued at $504,585,900. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider John F. Mccool sold 420 shares of Arista Networks stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $266.08, for a total transaction of $111,753.60. The disclosure for this sale can be found here. Insiders have sold a total of 333,494 shares of company stock worth $95,632,321 over the last quarter. Company insiders own 18.99% of the company’s stock.

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.