HUB Investment Partners LLC Buys 13,034 Shares of Arista Networks, Inc. (NYSE:ANET)

HUB Investment Partners LLC boosted its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 326.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,021 shares of the technology company's stock after acquiring an additional 13,034 shares during the period. HUB Investment Partners LLC's holdings in Arista Networks were worth $1,881,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Anchor Investment Management LLC boosted its stake in shares of Arista Networks by 35.0% in the third quarter. Anchor Investment Management LLC now owns 135 shares of the technology company's stock valued at $52,000 after buying an additional 35 shares during the period. Freedom Investment Management Inc. boosted its position in Arista Networks by 2.3% in the third quarter. Freedom Investment Management Inc. now owns 1,621 shares of the technology company's stock valued at $622,000 after buying an additional 36 shares in the last quarter. LRI Investments LLC grew its position in Arista Networks by 3.1% during the 3rd quarter. LRI Investments LLC now owns 1,368 shares of the technology company's stock worth $528,000 after acquiring an additional 41 shares during the last quarter. Rehmann Capital Advisory Group grew its holdings in shares of Arista Networks by 3.8% during the third quarter. Rehmann Capital Advisory Group now owns 1,177 shares of the technology company's stock worth $453,000 after purchasing an additional 43 shares during the last quarter. Finally, Brooklyn Investment Group increased its stake in shares of Arista Networks by 3.3% in the third quarter. Brooklyn Investment Group now owns 1,862 shares of the technology company's stock valued at $715,000 after buying an additional 59 shares during the period. 82.47% of the stock is owned by institutional investors.

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Insider Activity

In other Arista Networks news, CEO Jayshree Ullal sold 138,351 shares of the company's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $93.88, for a total value of $12,988,391.88. Following the completion of the transaction, the chief executive officer now directly owns 92,641 shares in the company, valued at approximately $8,697,137.08. This represents a 59.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $118.47, for a total value of $9,477,600.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 491,001 shares of company stock valued at $49,112,111. 3.54% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ANET shares. Piper Sandler restated a "neutral" rating and issued a $108.00 target price (up previously from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. Needham & Company LLC reissued a "buy" rating and issued a $145.00 price objective on shares of Arista Networks in a research note on Wednesday, February 19th. Erste Group Bank downgraded shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 17th. Rosenblatt Securities reissued a "sell" rating and issued a $80.00 price target on shares of Arista Networks in a research report on Tuesday, February 18th. Finally, Evercore ISI increased their price objective on shares of Arista Networks from $110.00 to $130.00 and gave the company an "outperform" rating in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $114.00.

Arista Networks Stock Up 5.3 %

NYSE:ANET traded up $4.45 during midday trading on Monday, hitting $87.58. The company had a trading volume of 10,398,418 shares, compared to its average volume of 8,579,394. The stock's fifty day moving average price is $102.53 and its 200-day moving average price is $101.89. Arista Networks, Inc. has a 52-week low of $60.08 and a 52-week high of $133.58. The company has a market capitalization of $110.44 billion, a PE ratio of 39.45, a P/E/G ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. As a group, research analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share 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.