HHM Wealth Advisors LLC Boosts Stock Position in Arista Networks, Inc. (NYSE:ANET)

HHM Wealth Advisors LLC raised its stake in Arista Networks, Inc. (NYSE:ANET) by 310.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,396 shares of the technology company’s stock after purchasing an additional 1,056 shares during the quarter. HHM Wealth Advisors LLC’s holdings in Arista Networks were worth $154,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. GW Henssler & Associates Ltd. increased its stake in Arista Networks by 3.6% in the 3rd quarter. GW Henssler & Associates Ltd. now owns 63,244 shares of the technology company’s stock valued at $24,274,000 after buying an additional 2,219 shares during the period. Sumitomo Life Insurance Co. boosted its holdings in shares of Arista Networks by 69.8% in the third quarter. Sumitomo Life Insurance Co. now owns 9,028 shares of the technology company’s stock valued at $3,465,000 after acquiring an additional 3,711 shares in the last quarter. Walkner Condon Financial Advisors LLC acquired a new position in shares of Arista Networks during the third quarter worth about $2,318,000. Greenleaf Trust lifted its position in Arista Networks by 20.1% in the third quarter. Greenleaf Trust now owns 13,224 shares of the technology company’s stock valued at $5,076,000 after purchasing an additional 2,216 shares during the period. Finally, Forsta AP Fonden lifted its position in Arista Networks by 10.0% in the third quarter. Forsta AP Fonden now owns 72,800 shares of the technology company’s stock valued at $27,942,000 after purchasing an additional 6,600 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $118.47, for a total value of $9,477,600.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,537,266.72. The trade was a 86.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $412.65, for a total value of $825,300.00. Following the completion of the transaction, the director now owns 42,946 shares of the company’s stock, valued at $17,721,666.90. The trade was a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 255,832 shares of company stock worth $28,538,497. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Stock Performance

ANET stock opened at $115.43 on Thursday. The stock’s 50 day moving average price is $112.28 and its 200 day moving average price is $99.36. The firm has a market cap of $145.41 billion, a P/E ratio of 55.49, a PEG ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.57.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Thursday, November 7th. The technology company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.76 billion. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. During the same quarter last year, the company earned $0.41 earnings per share. The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. On average, research analysts predict that Arista Networks, Inc. will post 1.97 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group increased their target price on Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Barclays cut their price objective on Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. Rosenblatt Securities boosted their target price on shares of Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a research report on Friday, November 8th. Evercore ISI increased their price target 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. Finally, UBS Group boosted their price objective on shares of Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.83.

Arista Networks 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.