Andrew Hill Investment Advisors Inc. Increases Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Andrew Hill Investment Advisors Inc. raised its position in Arista Networks, Inc. (NYSE:ANET - Free Report) by 417.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 51,116 shares of the technology company's stock after acquiring an additional 41,234 shares during the period. Arista Networks makes up about 4.2% of Andrew Hill Investment Advisors Inc.'s holdings, making the stock its 8th largest position. Andrew Hill Investment Advisors Inc.'s holdings in Arista Networks were worth $5,650,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ANET. Stock Yards Bank & Trust Co. purchased a new position in Arista Networks during the 4th quarter worth $242,000. GHE LLC boosted its holdings in Arista Networks by 319.0% during the fourth quarter. GHE LLC now owns 28,368 shares of the technology company's stock worth $3,136,000 after purchasing an additional 21,597 shares during the last quarter. Colonial River Investments LLC grew its position in Arista Networks by 327.6% in the 4th quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company's stock worth $1,077,000 after purchasing an additional 7,466 shares in the last quarter. Unified Investment Management purchased a new stake in Arista Networks in the 4th quarter valued at about $630,000. Finally, Berkshire Capital Holdings Inc. boosted its stake in shares of Arista Networks by 257.6% in the 4th quarter. Berkshire Capital Holdings Inc. now owns 76,950 shares of the technology company's stock worth $8,505,000 after buying an additional 55,430 shares during the last quarter. Institutional investors own 82.47% of the company's stock.

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Insider Transactions at Arista Networks

In other news, Director Charles H. Giancarlo sold 8,000 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $112.02, for a total transaction of $896,160.00. Following the sale, the director now directly owns 155,784 shares in the company, valued at approximately $17,450,923.68. This represents a 4.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the firm's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $115.61, for a total value of $9,248,800.00. Following the completion of the sale, the senior vice president now directly owns 12,976 shares of the company's stock, valued at $1,500,155.36. The trade was a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 411,031 shares of company stock valued at $39,364,943. 3.54% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ANET shares. Morgan Stanley cut their price objective on Arista Networks from $118.00 to $73.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. UBS Group raised shares of Arista Networks from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $112.00 to $115.00 in a report on Wednesday, March 5th. Needham & Company LLC restated a "buy" rating and set a $145.00 price objective on shares of Arista Networks in a report on Wednesday, February 19th. Erste Group Bank cut shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 17th. Finally, Piper Sandler decreased their price target on shares of Arista Networks from $108.00 to $76.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $108.50.

Arista Networks Stock Performance

Shares of ANET traded up $1.09 during mid-day trading on Monday, reaching $73.76. The stock had a trading volume of 4,460,298 shares, compared to its average volume of 9,132,271. The business has a fifty day moving average of $88.74 and a 200 day moving average of $100.14. The firm has a market cap of $93.02 billion, a price-to-earnings ratio of 33.23, a PEG ratio of 3.10 and a beta of 1.30. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $133.58.

Arista Networks (NYSE:ANET - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping 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 company had revenue of $1.93 billion for the quarter, compared to analysts' expectations of $1.90 billion. On average, research analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Arista Networks Company 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.