HUB Investment Partners LLC Buys 7,187 Shares of Arista Networks, Inc. $ANET

by · The Markets Daily

HUB Investment Partners LLC increased its stake in shares of Arista Networks, Inc. (NYSE:ANET – Free Report) by 29.9% in the second quarter, HoldingsChannel reports. The firm owned 31,193 shares of the technology company’s stock after buying an additional 7,187 shares during the period. HUB Investment Partners LLC’s holdings in Arista Networks were worth $3,191,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Ieq Capital LLC lifted its position in shares of Arista Networks by 69.8% during the second quarter. Ieq Capital LLC now owns 843,138 shares of the technology company’s stock valued at $86,261,000 after buying an additional 346,600 shares during the last quarter. Glenview Trust co raised its stake in shares of Arista Networks by 2.5% during the 2nd quarter. Glenview Trust co now owns 3,502 shares of the technology company’s stock worth $358,000 after acquiring an additional 84 shares in the last quarter. Volterra Technologies LP purchased a new stake in Arista Networks during the second quarter valued at approximately $458,000. Rokos Capital Management LLP acquired a new stake in Arista Networks in the second quarter valued at approximately $26,513,000. Finally, Faithward Advisors LLC grew its holdings in Arista Networks by 2.7% in the second quarter. Faithward Advisors LLC now owns 57,353 shares of the technology company’s stock worth $5,868,000 after purchasing an additional 1,493 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on ANET shares. UBS Group reiterated a “buy” rating and set a $155.00 price objective on shares of Arista Networks in a report on Wednesday, December 3rd. William Blair reaffirmed an “outperform” rating on shares of Arista Networks in a research report on Friday, September 12th. Barclays reiterated an “overweight” rating and issued a $183.00 price target (up from $179.00) on shares of Arista Networks in a research note on Wednesday, November 5th. Melius Research boosted their price target on Arista Networks from $160.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Finally, Needham & Company LLC upped their price objective on shares of Arista Networks from $155.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, September 16th. Eighteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $164.31.

Read Our Latest Analysis on Arista Networks

Insiders Place Their Bets

In related news, insider Kenneth Duda sold 30,000 shares of the firm’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $128.61, for a total transaction of $3,858,300.00. Following the completion of the transaction, the insider owned 12,976 shares of the company’s stock, valued at $1,668,843.36. This trade represents a 69.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Charles H. Giancarlo sold 58,000 shares of the business’s stock in a transaction on Friday, September 19th. The shares were sold at an average price of $148.42, for a total transaction of $8,608,360.00. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 274,464 shares of company stock valued at $38,250,488. 3.39% of the stock is owned by insiders.

Arista Networks Stock Performance

Arista Networks stock opened at $134.33 on Friday. The business’s 50-day simple moving average is $139.37 and its two-hundred day simple moving average is $126.21. The company has a market cap of $169.16 billion, a PE ratio of 51.08, a PEG ratio of 2.54 and a beta of 1.41. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $164.94.

Arista Networks (NYSE:ANET – Get Free Report) last announced its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.03. The firm had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.26 billion. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.The company’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same period last year, the business posted $2.40 earnings per share. As a group, analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Arista Networks Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding ANET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arista Networks, Inc. (NYSE:ANET – Free Report).