HUB Investment Partners LLC Has $1.88 Million Stock Position in Arista Networks, Inc. (NYSE:ANET)

HUB Investment Partners LLC grew its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 326.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,021 shares of the technology company’s stock after purchasing 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.

Several other institutional investors have also recently made changes to their positions in ANET. Quest Partners LLC raised its holdings in shares of Arista Networks by 149.2% during the third quarter. Quest Partners LLC now owns 2,896 shares of the technology company’s stock valued at $1,112,000 after purchasing an additional 1,734 shares during the period. Pathstone Holdings LLC raised its holdings in shares of Arista Networks by 6.4% in the 3rd quarter. Pathstone Holdings LLC now owns 25,697 shares of the technology company’s stock worth $9,863,000 after acquiring an additional 1,554 shares during the last quarter. Meeder Asset Management Inc. raised its holdings in shares of Arista Networks by 52.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 183 shares of the technology company’s stock worth $70,000 after acquiring an additional 63 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Arista Networks by 5.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 61,991 shares of the technology company’s stock worth $23,793,000 after acquiring an additional 3,273 shares during the last quarter. Finally, Howe & Rusling Inc. acquired a new stake in shares of Arista Networks in the 3rd quarter worth about $205,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Transactions at Arista Networks

In related news, CEO Jayshree Ullal sold 138,351 shares of Arista Networks stock in a transaction that occurred 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. The trade was a 59.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $111.51, for a total transaction of $892,080.00. Following the completion of the transaction, the director now owns 163,784 shares of the company’s stock, valued at $18,263,553.84. This represents a 4.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 491,001 shares of company stock worth $49,112,111 in the last quarter. Insiders own 3.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Morgan Stanley upped their target price on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Erste Group Bank lowered shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday. 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. Evercore ISI upped their target price on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Finally, Barclays reiterated an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $114.00.

Arista Networks Stock Down 1.9 %

Shares of ANET stock opened at $82.85 on Friday. The company has a 50 day moving average of $103.15 and a 200-day moving average of $101.64. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.58. The firm has a market cap of $104.48 billion, a P/E ratio of 37.32, a PEG ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) 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 company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. As a group, equities analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

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.