Mountain Hill Investment Partners Corp. Trims Stock Position in Arista Networks, Inc. $ANET

Mountain Hill Investment Partners Corp. lowered its position in Arista Networks, Inc. (NYSE:ANET) by 99.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 200 shares of the technology company’s stock after selling 83,100 shares during the quarter. Mountain Hill Investment Partners Corp.’s holdings in Arista Networks were worth $29,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. AdvisorNet Financial Inc grew its holdings in Arista Networks by 56.7% during the 3rd quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after acquiring an additional 72 shares in the last quarter. Crown Wealth Group LLC boosted its stake in shares of Arista Networks by 2.4% during the third quarter. Crown Wealth Group LLC now owns 3,175 shares of the technology company’s stock valued at $463,000 after purchasing an additional 75 shares in the last quarter. Fragasso Financial Advisors Inc increased its holdings in Arista Networks by 1.8% during the third quarter. Fragasso Financial Advisors Inc now owns 4,237 shares of the technology company’s stock valued at $616,000 after buying an additional 76 shares during the period. Stablepoint Partners LLC raised its stake in Arista Networks by 0.8% in the second quarter. Stablepoint Partners LLC now owns 9,406 shares of the technology company’s stock worth $962,000 after buying an additional 77 shares in the last quarter. Finally, ORG Partners LLC lifted its holdings in Arista Networks by 13.1% during the third quarter. ORG Partners LLC now owns 675 shares of the technology company’s stock worth $98,000 after buying an additional 78 shares during the period. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Arista Networks Trading Up 5.2%

Shares of NYSE ANET opened at $129.84 on Wednesday. The stock has a market cap of $163.50 billion, a price-to-earnings ratio of 49.37, a PEG ratio of 2.08 and a beta of 1.41. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $164.94. The company has a 50 day simple moving average of $129.27 and a two-hundred day simple moving average of $132.52.

Arista Networks (NYSE:ANET) last issued its earnings results 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. Arista Networks had a net margin of 39.73% and a return on equity of 30.28%. The firm had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same quarter last year, the company posted $2.40 earnings per share. The firm’s revenue was up 27.5% compared to the same quarter last year. Analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insider Activity at Arista Networks

In related news, CEO Jayshree Ullal sold 24,042 shares of the stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $124.55, for a total transaction of $2,994,431.10. Following the sale, the chief executive officer directly owned 9,917 shares of the company’s stock, valued at approximately $1,235,162.35. This represents a 70.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $133.79, for a total transaction of $1,070,320.00. Following the sale, the director owned 17,784 shares in the company, valued at approximately $2,379,321.36. This represents a 31.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 216,464 shares of company stock worth $28,488,988. 3.54% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ANET. UBS Group restated a “buy” rating and set a $155.00 price objective on shares of Arista Networks in a research note on Wednesday, December 3rd. Needham & Company LLC lifted their price objective on shares of Arista Networks from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, September 16th. BNP Paribas raised shares of Arista Networks from a “hold” rating to an “outperform” rating in a research report on Thursday, September 25th. Zacks Research lowered shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Finally, BNP Paribas Exane upgraded Arista Networks from a “neutral” rating to an “outperform” rating and set a $172.00 price objective for the company in a report on Thursday, September 25th. Eighteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Arista Networks presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.44.

Arista Networks Company Profile

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.