Andrew Hill Investment Advisors Inc. Makes New $1.84 Million Investment in Arista Networks, Inc. (NYSE:ANET)

Andrew Hill Investment Advisors Inc. bought a new position in Arista Networks, Inc. (NYSE:ANET) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 7,810 shares of the technology company’s stock, valued at approximately $1,839,000. Arista Networks comprises approximately 1.9% of Andrew Hill Investment Advisors Inc.’s portfolio, making the stock its 27th biggest holding.

Other institutional investors have also added to or reduced their stakes in the company. AXQ Capital LP bought a new position in Arista Networks in the 3rd quarter worth about $791,000. Advisor Resource Council boosted its holdings in shares of Arista Networks by 507.9% in the 4th quarter. Advisor Resource Council now owns 7,021 shares of the technology company’s stock worth $1,653,000 after purchasing an additional 5,866 shares in the last quarter. Bleakley Financial Group LLC boosted its holdings in shares of Arista Networks by 4.6% in the 4th quarter. Bleakley Financial Group LLC now owns 4,445 shares of the technology company’s stock worth $1,047,000 after purchasing an additional 194 shares in the last quarter. WCM Investment Management LLC boosted its holdings in shares of Arista Networks by 0.5% in the 4th quarter. WCM Investment Management LLC now owns 3,024,220 shares of the technology company’s stock worth $716,649,000 after purchasing an additional 16,081 shares in the last quarter. Finally, Cambridge Trust Co. boosted its holdings in shares of Arista Networks by 70.1% in the 3rd quarter. Cambridge Trust Co. now owns 50,255 shares of the technology company’s stock worth $9,243,000 after purchasing an additional 20,704 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

Insider Transactions at Arista Networks

In other news, Director Yvonne Wassenaar sold 224 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $255.29, for a total value of $57,184.96. Following the completion of the transaction, the director now owns 2,827 shares of the company’s stock, valued at approximately $721,704.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Yvonne Wassenaar sold 224 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $255.29, for a total transaction of $57,184.96. Following the completion of the transaction, the director now owns 2,827 shares of the company’s stock, valued at approximately $721,704.83. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $286.52, for a total value of $573,040.00. Following the transaction, the director now directly owns 60,946 shares of the company’s stock, valued at approximately $17,462,247.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 342,229 shares of company stock valued at $97,968,530. Corporate insiders own 18.99% of the company’s stock.

Arista Networks Trading Down 2.4 %

NYSE ANET traded down $6.16 on Friday, hitting $251.03. The company’s stock had a trading volume of 810,876 shares, compared to its average volume of 2,428,758. Arista Networks, Inc. has a 52-week low of $131.68 and a 52-week high of $307.74. The company’s 50-day simple moving average is $281.02 and its 200 day simple moving average is $244.15. The firm has a market cap of $78.48 billion, a P/E ratio of 39.16, a PEG ratio of 2.21 and a beta of 1.09.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.38. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter last year, the business posted $1.25 EPS. The business’s revenue was up 20.8% on a year-over-year basis. On average, research analysts forecast that Arista Networks, Inc. will post 6.7 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Morgan Stanley upped their price objective on Arista Networks from $230.00 to $272.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Rosenblatt Securities reiterated a “sell” rating and issued a $210.00 price objective on shares of Arista Networks in a report on Friday, April 12th. Needham & Company LLC reiterated a “buy” rating and issued a $320.00 price objective on shares of Arista Networks in a report on Tuesday, February 13th. The Goldman Sachs Group upped their price objective on Arista Networks from $313.00 to $356.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Finally, Melius Research upgraded Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 price objective for the company in a report on Monday, January 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $275.59.

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.