Hilltop Partners LLC Boosts Position in Arista Networks, Inc. (NYSE:ANET)

Hilltop Partners LLC grew its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 300.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,180 shares of the technology company’s stock after acquiring an additional 2,385 shares during the period. Hilltop Partners LLC’s holdings in Arista Networks were worth $351,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Zions Bancorporation N.A. lifted its stake in Arista Networks by 6.9% in the 3rd quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock worth $160,000 after purchasing an additional 27 shares in the last quarter. Intellectus Partners LLC grew its position in Arista Networks by 1.4% during the third quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock worth $740,000 after buying an additional 27 shares in the last quarter. Altman Advisors Inc. increased its stake in Arista Networks by 0.5% in the 3rd quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock worth $2,250,000 after acquiring an additional 28 shares during the last quarter. HM Payson & Co. increased its stake in Arista Networks by 28.2% in the 3rd quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock worth $51,000 after acquiring an additional 29 shares during the last quarter. Finally, Beacon Financial Advisory LLC raised its holdings in shares of Arista Networks by 4.9% in the 3rd quarter. Beacon Financial Advisory LLC now owns 640 shares of the technology company’s stock valued at $246,000 after acquiring an additional 30 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $412.65, for a total value of $825,300.00. Following the completion of the sale, the director now owns 42,946 shares in the company, valued at approximately $17,721,666.90. This trade represents a 4.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jayshree Ullal sold 138,351 shares of Arista Networks stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $93.88, for a total value of $12,988,391.88. Following the completion of the sale, the chief executive officer now owns 92,641 shares in the company, valued at approximately $8,697,137.08. This represents a 59.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 416,008 shares of company stock valued at $44,854,958 in the last quarter. Company insiders own 3.54% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on ANET. The Goldman Sachs Group upped their price objective on shares of Arista Networks from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Piper Sandler reissued a “neutral” rating and issued a $108.00 price target (up previously from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. Rosenblatt Securities reaffirmed a “sell” rating and set a $80.00 price objective on shares of Arista Networks in a report on Tuesday, February 18th. Barclays increased their target price on Arista Networks from $125.00 to $126.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company lifted their price target on Arista Networks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Arista Networks currently has a consensus rating of “Moderate Buy” and an average price target of $113.79.

Arista Networks Price Performance

Shares of ANET stock opened at $91.50 on Friday. The business has a 50-day moving average of $112.19 and a 200 day moving average of $102.02. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.57. The stock has a market capitalization of $115.40 billion, a PE ratio of 41.22, a P/E/G ratio of 3.10 and a beta of 1.09.

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

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.