Andar Capital Management HK Ltd Increases Stake in Arista Networks, Inc. (NYSE:ANET)

Andar Capital Management HK Ltd raised its stake in Arista Networks, Inc. (NYSE:ANET) by 442.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 48,800 shares of the technology company’s stock after acquiring an additional 39,800 shares during the period. Arista Networks accounts for about 7.0% of Andar Capital Management HK Ltd’s holdings, making the stock its 7th biggest holding. Andar Capital Management HK Ltd’s holdings in Arista Networks were worth $5,394,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. MidAtlantic Capital Management Inc. bought a new position in Arista Networks in the third quarter valued at approximately $44,000. True Wealth Design LLC lifted its stake in Arista Networks by 2,133.3% in the third quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock valued at $51,000 after buying an additional 128 shares in the last quarter. Anchor Investment Management LLC lifted its stake in Arista Networks by 35.0% in the third quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock valued at $52,000 after buying an additional 35 shares in the last quarter. Meeder Asset Management Inc. lifted its stake in Arista Networks by 52.5% in the third quarter. Meeder Asset Management Inc. now owns 183 shares of the technology company’s stock valued at $70,000 after buying an additional 63 shares in the last quarter. Finally, Caitlin John LLC raised its holdings in shares of Arista Networks by 174.7% in the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after purchasing an additional 152 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Performance

Shares of Arista Networks stock opened at $83.96 on Wednesday. The firm has a 50-day moving average of $104.44 and a 200-day moving average of $101.89. The stock has a market cap of $105.88 billion, a PE ratio of 37.82, a PEG ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a 52-week low of $60.08 and a 52-week high of $133.58.

Arista Networks (NYSE:ANET) last announced its earnings results 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. The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. Equities research analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Evercore ISI lifted their price objective on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Citigroup lifted their price objective on shares of Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Rosenblatt Securities reiterated a “sell” rating and issued a $80.00 price objective on shares of Arista Networks in a report on Tuesday, February 18th. The Goldman Sachs Group reiterated a “buy” rating on shares of Arista Networks in a report on Monday, March 3rd. Finally, UBS Group upgraded shares of Arista Networks from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $112.00 to $115.00 in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Arista Networks currently has an average rating of “Moderate Buy” and an average price target of $114.00.

Insider Activity

In related news, SVP Marc Taxay sold 51,848 shares of the company’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $111.51, for a total transaction of $892,080.00. Following the sale, the director now directly owns 163,784 shares of the company’s stock, valued at $18,263,553.84. This represents a 4.66 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 491,001 shares of company stock valued at $49,112,111. 3.54% of the stock is owned by company insiders.

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.