Breed s Hill Capital LLC Takes $412,000 Position in Arista Networks, Inc. (NYSE:ANET)

Breed s Hill Capital LLC bought a new stake in Arista Networks, Inc. (NYSE:ANET) during the 4th quarter, HoldingsChannel.com reports. The firm bought 3,724 shares of the technology company’s stock, valued at approximately $412,000.

A number of other institutional investors have also recently added to or reduced their stakes in ANET. MassMutual Private Wealth & Trust FSB lifted its position in Arista Networks by 330.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 3,116 shares of the technology company’s stock worth $344,000 after buying an additional 2,392 shares in the last quarter. Pure Financial Advisors LLC purchased a new position in Arista Networks during the fourth quarter worth approximately $213,000. Perpetual Ltd lifted its position in Arista Networks by 28.3% during the fourth quarter. Perpetual Ltd now owns 7,316 shares of the technology company’s stock worth $809,000 after buying an additional 1,613 shares in the last quarter. Beaumont Financial Advisors LLC lifted its position in Arista Networks by 282.2% during the fourth quarter. Beaumont Financial Advisors LLC now owns 3,100 shares of the technology company’s stock worth $343,000 after buying an additional 2,289 shares in the last quarter. Finally, Simon Quick Advisors LLC lifted its position in Arista Networks by 414.8% during the fourth quarter. Simon Quick Advisors LLC now owns 4,582 shares of the technology company’s stock worth $506,000 after buying an additional 3,692 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 138,351 shares of Arista Networks stock in a transaction dated Monday, February 24th. The stock was 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 of the company’s stock, valued at $8,697,137.08. The trade was a 59.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John F. Mccool sold 17,433 shares of Arista Networks stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $96.57, for a total value of $1,683,504.81. The disclosure for this sale can be found here. Insiders sold a total of 410,587 shares of company stock valued at $37,028,000 in the last three months. 3.39% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ANET has been the topic of a number of analyst reports. Citigroup lifted their price objective on Arista Networks from $97.00 to $112.00 and gave the stock a “buy” rating in a research report on Tuesday, May 13th. KGI Securities downgraded Arista Networks to a “neutral” rating in a research report on Wednesday, May 7th. UBS Group upgraded Arista Networks from a “neutral” rating to a “buy” rating and lifted their target price for the company from $112.00 to $115.00 in a research report on Wednesday, March 5th. Evercore ISI reduced their target price on Arista Networks from $130.00 to $100.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. Finally, Wells Fargo & Company restated an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $107.14.

Arista Networks Price Performance

NYSE ANET opened at $92.51 on Friday. The company has a market cap of $116.19 billion, a P/E ratio of 41.67, a P/E/G ratio of 3.10 and a beta of 1.38. The stock has a 50-day moving average of $81.26 and a two-hundred day moving average of $97.10. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $133.58.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, May 6th. The technology company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.06. The company had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.97 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. Arista Networks’s revenue was up 27.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.50 EPS. On average, analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Arista Networks declared that its Board of Directors has approved a share buyback program on Tuesday, May 6th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the technology company to purchase up to 1.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Arista Networks Company 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.