Bank of Hawaii Acquires 6,600 Shares of Arista Networks, Inc. (NYSE:ANET)

Bank of Hawaii increased its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 300.0% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 8,800 shares of the technology company's stock after buying an additional 6,600 shares during the quarter. Bank of Hawaii's holdings in Arista Networks were worth $973,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Anchor Investment Management LLC grew its stake in shares of Arista Networks by 35.0% during the 3rd quarter. Anchor Investment Management LLC now owns 135 shares of the technology company's stock worth $52,000 after acquiring an additional 35 shares during the period. Caitlin John LLC boosted its position in Arista Networks by 174.7% during the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company's stock worth $26,000 after purchasing an additional 152 shares during the period. Capital Advisors Ltd. LLC increased its stake in shares of Arista Networks by 335.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock worth $27,000 after purchasing an additional 191 shares in the last quarter. New Millennium Group LLC raised its position in shares of Arista Networks by 300.0% in the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock valued at $29,000 after purchasing an additional 195 shares during the period. Finally, Cranbrook Wealth Management LLC lifted its stake in shares of Arista Networks by 300.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company's stock valued at $29,000 after buying an additional 198 shares in the last quarter. Institutional investors own 82.47% of the company's stock.

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Arista Networks Trading Down 0.2 %

Shares of ANET stock traded down $0.15 during trading hours on Friday, hitting $72.50. 11,224,936 shares of the company's stock were exchanged, compared to its average volume of 9,205,073. The company has a market capitalization of $91.43 billion, a PE ratio of 32.66, a PEG ratio of 3.10 and a beta of 1.30. The business's 50 day simple moving average is $88.74 and its 200-day simple moving average is $100.12. 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 released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $1.90 billion. Equities analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Erste Group Bank lowered shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 17th. Morgan Stanley reduced their price target on Arista Networks from $118.00 to $73.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Citigroup increased their price objective on Arista Networks from $115.00 to $121.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. Piper Sandler reduced their target price on Arista Networks from $108.00 to $76.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Finally, UBS Group raised shares of Arista Networks from a "neutral" rating to a "buy" rating and increased their price target for the stock from $112.00 to $115.00 in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Arista Networks has a consensus rating of "Moderate Buy" and an average target price of $108.50.

Insider Transactions at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 138,351 shares of the company's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kelly Bodnar Battles sold 1,488 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $107.13, for a total value of $159,409.44. Following the completion of the transaction, the director now owns 8,128 shares of the company's stock, valued at approximately $870,752.64. The trade was a 15.47 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 411,031 shares of company stock worth $39,364,943. 3.54% of the stock is currently owned by insiders.

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.