HWG Holdings LP Boosts Position in Arista Networks, Inc. $ANET

HWG Holdings LP boosted its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 132.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,526 shares of the technology company’s stock after buying an additional 13,384 shares during the quarter. Arista Networks makes up 0.9% of HWG Holdings LP’s portfolio, making the stock its 24th largest position. HWG Holdings LP’s holdings in Arista Networks were worth $3,428,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. AdvisorNet Financial Inc raised its stake in shares of Arista Networks by 56.7% during the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock valued at $29,000 after acquiring an additional 72 shares in the last quarter. Bare Financial Services Inc raised its position in Arista Networks by 2,118.2% during the 2nd quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock valued at $25,000 after purchasing an additional 233 shares in the last quarter. REAP Financial Group LLC raised its position in Arista Networks by 108.0% during the 2nd quarter. REAP Financial Group LLC now owns 337 shares of the technology company’s stock valued at $34,000 after purchasing an additional 175 shares in the last quarter. Nova Wealth Management Inc. lifted its holdings in shares of Arista Networks by 215.7% in the 3rd quarter. Nova Wealth Management Inc. now owns 341 shares of the technology company’s stock worth $50,000 after buying an additional 233 shares during the period. Finally, Solstein Capital LLC grew its position in shares of Arista Networks by 493.8% during the 2nd quarter. Solstein Capital LLC now owns 380 shares of the technology company’s stock worth $39,000 after buying an additional 316 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

Insider Activity at Arista Networks

In other news, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $128.09, for a total transaction of $1,024,720.00. Following the sale, the director directly owned 25,784 shares of the company’s stock, valued at $3,302,672.56. The trade was a 23.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kenneth Duda sold 26,000 shares of the firm’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $123.16, for a total value of $3,202,160.00. Following the completion of the transaction, the insider owned 532,400 shares of the company’s stock, valued at $65,570,384. This trade represents a 4.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 216,464 shares of company stock valued at $28,598,588 over the last three months. 3.54% of the stock is owned by corporate insiders.

Arista Networks Price Performance

Arista Networks stock opened at $130.50 on Tuesday. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $164.94. The business has a fifty day moving average price of $135.92 and a 200-day moving average price of $128.43. The stock has a market capitalization of $164.33 billion, a price-to-earnings ratio of 49.62, a PEG ratio of 2.51 and a beta of 1.41.

Arista Networks (NYSE:ANET) last announced its earnings results on Tuesday, November 4th. The technology company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.03. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.The company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same period in the prior year, the company posted $2.40 EPS. The firm’s quarterly revenue was up 27.5% compared to the same quarter last year. On average, equities research analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on ANET. Citigroup lifted their price objective on Arista Networks from $136.00 to $176.00 and gave the company a “buy” rating in a report on Friday, September 12th. Wolfe Research upped their price target on shares of Arista Networks from $160.00 to $185.00 and gave the stock an “outperform” rating in a research report on Friday, September 12th. Needham & Company LLC upped their target price on Arista Networks from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, September 16th. The Goldman Sachs Group lifted their price target on Arista Networks from $155.00 to $175.00 and gave the company a “buy” rating in a report on Friday, September 12th. Finally, Evercore ISI upped their price objective on Arista Networks from $150.00 to $175.00 and gave the stock an “outperform” rating in a research note on Friday, September 12th. Seventeen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $163.56.

Arista Networks 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.