Sand Hill Global Advisors LLC Boosts Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Sand Hill Global Advisors LLC increased its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 301.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,061 shares of the technology company’s stock after purchasing an additional 9,811 shares during the quarter. Sand Hill Global Advisors LLC’s holdings in Arista Networks were worth $1,444,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Morse Asset Management Inc purchased a new stake in Arista Networks during the 3rd quarter worth about $123,000. iA Global Asset Management Inc. purchased a new stake in shares of Arista Networks in the 3rd quarter valued at about $2,961,000. Orion Portfolio Solutions LLC increased its position in Arista Networks by 0.8% during the third quarter. Orion Portfolio Solutions LLC now owns 12,723 shares of the technology company’s stock worth $4,883,000 after buying an additional 97 shares during the period. MML Investors Services LLC boosted its holdings in shares of Arista Networks by 1.7% in the third quarter. MML Investors Services LLC now owns 64,178 shares of the technology company’s stock valued at $24,633,000 after acquiring an additional 1,101 shares during the period. Finally, LRI Investments LLC boosted its stake 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 purchasing an additional 41 shares during the period. 82.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on ANET. Erste Group Bank cut Arista Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 17th. Wells Fargo & Company restated an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. The Goldman Sachs Group restated a “buy” rating on shares of Arista Networks in a research report on Monday, March 3rd. UBS Group upgraded Arista Networks from a “neutral” rating to a “buy” rating and lifted their price target for the company from $112.00 to $115.00 in a research note on Wednesday, March 5th. Finally, Rosenblatt Securities restated a “sell” rating and set a $80.00 target price on shares of Arista Networks in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $114.00.

Arista Networks Trading Up 5.8 %

NYSE:ANET opened at $68.12 on Tuesday. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $133.58. The firm has a market capitalization of $85.91 billion, a price-to-earnings ratio of 30.68, a PEG ratio of 3.10 and a beta of 1.30. The firm’s fifty day simple moving average is $93.37 and its 200 day simple moving average is $101.18.

Arista Networks (NYSE:ANET) last issued its 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. The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. On average, analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $112.02, for a total value of $896,160.00. Following the completion of the transaction, the director now owns 155,784 shares in the company, valued at approximately $17,450,923.68. This trade represents a 4.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Marc Taxay sold 51,848 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $88.59, for a total value of $4,593,214.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 411,001 shares of company stock worth $39,362,831. Insiders own 3.54% of the company’s stock.

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.