Arista Networks, Inc. (NYSE:ANET) Shares Bought by Sand Hill Global Advisors LLC

Sand Hill Global Advisors LLC increased its stake in Arista Networks, Inc. (NYSE:ANET) by 301.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,061 shares of the technology company’s stock after acquiring an additional 9,811 shares during the period. Sand Hill Global Advisors LLC’s holdings in Arista Networks were worth $1,444,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ANET. Renaissance Group LLC grew its holdings in shares of Arista Networks by 285.5% in the 4th quarter. Renaissance Group LLC now owns 358,733 shares of the technology company’s stock worth $39,651,000 after acquiring an additional 265,668 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Arista Networks by 192.6% in the 4th quarter. Renaissance Technologies LLC now owns 1,000,100 shares of the technology company’s stock valued at $110,541,000 after purchasing an additional 658,300 shares during the period. Bank of Nova Scotia increased its stake in Arista Networks by 246.8% in the 4th quarter. Bank of Nova Scotia now owns 500,565 shares of the technology company’s stock worth $55,383,000 after purchasing an additional 356,211 shares in the last quarter. FIL Ltd raised its holdings in Arista Networks by 262.9% during the 4th quarter. FIL Ltd now owns 3,712 shares of the technology company’s stock worth $410,000 after buying an additional 2,689 shares during the period. Finally, Shelton Capital Management grew its holdings in shares of Arista Networks by 442.3% during the fourth quarter. Shelton Capital Management now owns 67,056 shares of the technology company’s stock valued at $7,412,000 after buying an additional 54,692 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Insiders Place Their Bets

In related news, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $77.55, for a total transaction of $620,400.00. Following the completion of the transaction, the director now owns 139,784 shares in the company, valued at approximately $10,840,249.20. The trade was a 5.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $115.61, for a total transaction of $9,248,800.00. Following the sale, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at $1,500,155.36. This represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 411,001 shares of company stock valued at $39,362,831. Company insiders own 3.54% of the company’s stock.

Arista Networks Trading Up 5.8 %

Shares of ANET stock opened at $68.12 on Tuesday. The firm has a market capitalization of $85.91 billion, a price-to-earnings ratio of 30.68, a PEG ratio of 3.10 and a beta of 1.30. The firm’s 50 day moving average is $93.37 and its 200-day moving average is $101.18. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $133.58.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 EPS 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 for the quarter, compared to analyst estimates of $1.90 billion. On average, equities research analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ANET has been the topic of several research analyst reports. StockNews.com cut Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Citigroup raised their target price on 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 set a $80.00 price target on shares of Arista Networks in a research note on Tuesday, February 18th. Piper Sandler reissued a “neutral” rating and issued a $108.00 price objective (up from $106.00) on shares of Arista Networks in a research note on Wednesday, February 19th. Finally, Evercore ISI upped their target price on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $114.00.

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.