Andar Capital Management HK Ltd Has $4.42 Million Stake in Arista Networks, Inc. (NYSE:ANET)

Andar Capital Management HK Ltd lessened its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 51.4% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 12,600 shares of the technology company’s stock after selling 13,320 shares during the quarter. Arista Networks comprises about 6.1% of Andar Capital Management HK Ltd’s investment portfolio, making the stock its 7th biggest position. Andar Capital Management HK Ltd’s holdings in Arista Networks were worth $4,416,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of ANET. 9258 Wealth Management LLC acquired a new stake in shares of Arista Networks during the 4th quarter worth about $240,000. Brown Advisory Inc. acquired a new stake in Arista Networks in the 4th quarter worth about $220,000. PNC Financial Services Group Inc. raised its stake in Arista Networks by 7.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 51,301 shares of the technology company’s stock worth $12,082,000 after purchasing an additional 3,763 shares in the last quarter. Gladstone Institutional Advisory LLC acquired a new stake in Arista Networks in the 4th quarter worth about $267,000. Finally, Coldstream Capital Management Inc. raised its stake in Arista Networks by 18.9% in the 4th quarter. Coldstream Capital Management Inc. now owns 2,755 shares of the technology company’s stock worth $649,000 after purchasing an additional 437 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on ANET shares. Evercore ISI reiterated an “outperform” rating and issued a $400.00 price objective on shares of Arista Networks in a research note on Friday, September 13th. Barclays lifted their price objective on shares of Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. UBS Group lifted their price objective on shares of Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Piper Sandler lifted their price objective on shares of Arista Networks from $302.00 to $345.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. Finally, Jefferies Financial Group boosted their target price on shares of Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Arista Networks currently has a consensus rating of “Moderate Buy” and a consensus target price of $358.63.

Insiders Place Their Bets

In other Arista Networks news, SVP Kenneth Duda sold 1,689 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $321.28, for a total transaction of $542,641.92. Following the sale, the senior vice president now directly owns 182,600 shares of the company’s stock, valued at approximately $58,665,728. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Arista Networks news, SVP Marc Taxay sold 624 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $354.71, for a total transaction of $221,339.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Kenneth Duda sold 1,689 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $321.28, for a total transaction of $542,641.92. Following the sale, the senior vice president now directly owns 182,600 shares in the company, valued at $58,665,728. The disclosure for this sale can be found here. Insiders have sold 106,989 shares of company stock valued at $37,891,416 in the last ninety days. 3.54% of the stock is currently owned by insiders.

Arista Networks Trading Up 0.5 %

Shares of Arista Networks stock opened at $360.97 on Wednesday. The firm has a market capitalization of $113.11 billion, a PE ratio of 50.27, a price-to-earnings-growth ratio of 2.70 and a beta of 1.07. The firm’s 50 day moving average is $340.74 and its 200 day moving average is $315.02. Arista Networks, Inc. has a 1 year low of $168.25 and a 1 year high of $376.50.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.38. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The firm’s revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.41 EPS. As a group, research analysts anticipate that Arista Networks, Inc. will post 7.38 earnings per share 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.