HUB Investment Partners LLC Grows Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

HUB Investment Partners LLC boosted its holdings in Arista Networks, Inc. (NYSE:ANET) by 326.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 17,021 shares of the technology company’s stock after acquiring an additional 13,034 shares during the quarter. HUB Investment Partners LLC’s holdings in Arista Networks were worth $1,881,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the company. Whittier Trust Co. boosted its holdings in Arista Networks by 310.1% in the 4th quarter. Whittier Trust Co. now owns 2,600 shares of the technology company’s stock valued at $287,000 after purchasing an additional 1,966 shares during the period. BluePointe Capital Management LLC boosted its holdings in Arista Networks by 311.3% in the 4th quarter. BluePointe Capital Management LLC now owns 13,286 shares of the technology company’s stock valued at $1,469,000 after purchasing an additional 10,056 shares during the period. Berkshire Capital Holdings Inc. boosted its holdings in Arista Networks by 257.6% in the 4th quarter. Berkshire Capital Holdings Inc. now owns 76,950 shares of the technology company’s stock valued at $8,505,000 after purchasing an additional 55,430 shares during the period. Viawealth LLC boosted its holdings in Arista Networks by 273.6% in the 4th quarter. Viawealth LLC now owns 12,010 shares of the technology company’s stock valued at $1,327,000 after purchasing an additional 8,795 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Arista Networks by 291.7% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 219,647 shares of the technology company’s stock valued at $24,278,000 after purchasing an additional 163,569 shares during the period. 82.47% of the stock is owned by institutional investors.

Insider Buying and Selling at Arista Networks

In related news, SVP Marc Taxay sold 51,848 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $88.59, for a total transaction of $4,593,214.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $118.47, for a total transaction of $9,477,600.00. Following the transaction, the senior vice president now owns 12,976 shares in the company, valued at $1,537,266.72. This represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 491,001 shares of company stock worth $49,112,111. 3.54% of the stock is currently owned by company insiders.

Arista Networks Stock Down 1.9 %

Arista Networks stock opened at $82.85 on Friday. The firm has a fifty day simple moving average of $103.15 and a two-hundred day simple moving average of $101.64. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.58. The company has a market capitalization of $104.48 billion, a PE ratio of 37.32, a P/E/G ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.90 billion. As a group, equities analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on ANET. Erste Group Bank downgraded shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday. Morgan Stanley lifted their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $145.00 price objective on shares of Arista Networks in a report on Wednesday, February 19th. Barclays reaffirmed an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Arista Networks in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Arista Networks presently has a consensus rating of “Moderate Buy” and an average price target of $114.00.

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.