Arista Networks, Inc. $ANET Holdings Cut by Andrew Hill Investment Advisors Inc.

Andrew Hill Investment Advisors Inc. lowered its position in Arista Networks, Inc. (NYSE:ANET) by 44.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,584 shares of the technology company’s stock after selling 4,529 shares during the quarter. Andrew Hill Investment Advisors Inc.’s holdings in Arista Networks were worth $732,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in ANET. Board of the Pension Protection Fund acquired a new position in shares of Arista Networks during the fourth quarter valued at approximately $26,000. AdvisorNet Financial Inc increased its stake in shares of Arista Networks by 56.7% during the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock valued at $29,000 after acquiring an additional 72 shares during the period. Knuff & Co LLC acquired a new position in shares of Arista Networks during the third quarter valued at approximately $29,000. Ameliora Wealth Management Ltd. acquired a new position in shares of Arista Networks during the fourth quarter valued at approximately $30,000. Finally, Richardson Financial Services Inc. raised its holdings in shares of Arista Networks by 141.3% in the 3rd quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock worth $32,000 after purchasing an additional 130 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. TD Cowen assumed coverage on shares of Arista Networks in a report on Thursday, March 12th. They set a “buy” rating and a $170.00 target price for the company. Barclays restated an “overweight” rating and set a $184.00 target price (up from $183.00) on shares of Arista Networks in a report on Friday, February 13th. Piper Sandler restated an “overweight” rating and set a $175.00 target price (up from $159.00) on shares of Arista Networks in a report on Friday, February 13th. UBS Group set a $200.00 target price on shares of Arista Networks in a report on Tuesday, February 24th. Finally, Susquehanna raised shares of Arista Networks to a “strong-buy” rating in a research note on Wednesday, April 1st. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Arista Networks presently has a consensus rating of “Moderate Buy” and an average target price of $176.44.

Arista Networks Stock Down 0.1%

ANET stock opened at $147.27 on Monday. Arista Networks, Inc. has a 12-month low of $66.59 and a 12-month high of $164.94. The company has a market cap of $185.05 billion, a price-to-earnings ratio of 53.36, a PEG ratio of 2.60 and a beta of 1.48. The company has a 50 day moving average of $133.97 and a two-hundred day moving average of $135.81.

Arista Networks (NYSE:ANET) last released its earnings results on Thursday, February 12th. The technology company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.07. Arista Networks had a net margin of 38.99% and a return on equity of 30.37%. The company had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter in the prior year, the firm earned $0.66 EPS. The company’s revenue was up 28.9% compared to the same quarter last year. On average, research analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insider Activity at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $125.95, for a total value of $1,007,600.00. Following the completion of the sale, the director owned 216,333 shares in the company, valued at $27,247,141.35. This represents a 3.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kenneth Duda sold 26,000 shares of the firm’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $134.14, for a total transaction of $3,487,640.00. Following the transaction, the insider owned 502,400 shares in the company, valued at $67,391,936. This represents a 4.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 199,632 shares of company stock worth $26,873,604 in the last quarter. 3.54% of the stock is owned by corporate insiders.

Arista Networks Company Profile

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.