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

Breed s Hill Capital LLC purchased a new position in Arista Networks, Inc. (NYSE:ANET - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,724 shares of the technology company's stock, valued at approximately $412,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Caitlin John LLC grew its stake in Arista Networks by 174.7% during the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company's stock worth $26,000 after buying an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC increased its position in Arista Networks by 335.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock valued at $27,000 after acquiring an additional 191 shares in the last quarter. New Millennium Group LLC raised its stake in shares of Arista Networks by 300.0% in the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock worth $29,000 after acquiring an additional 195 shares during the last quarter. Quarry LP lifted its position in shares of Arista Networks by 381.5% during the fourth quarter. Quarry LP now owns 260 shares of the technology company's stock worth $29,000 after purchasing an additional 206 shares in the last quarter. Finally, Dunhill Financial LLC grew its stake in shares of Arista Networks by 415.7% during the fourth quarter. Dunhill Financial LLC now owns 263 shares of the technology company's stock valued at $29,000 after purchasing an additional 212 shares during the last quarter. Institutional investors own 82.47% of the company's stock.

Arista Networks Stock Performance

ANET stock traded up $0.44 during mid-day trading on Wednesday, hitting $92.93. 2,206,372 shares of the company were exchanged, compared to its average volume of 10,890,851. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $133.57. The firm's 50 day simple moving average is $81.73 and its 200 day simple moving average is $96.81. The firm has a market cap of $116.71 billion, a P/E ratio of 41.86, a P/E/G ratio of 3.10 and a beta of 1.38.

Arista Networks (NYSE:ANET - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.59 by $0.06. The business had revenue of $2 billion for the quarter, compared to analysts' expectations of $1.97 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The firm's revenue was up 27.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.50 EPS. On average, equities research analysts predict 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 repurchase plan on Tuesday, May 6th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the technology company to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages recently commented on ANET. KGI Securities lowered Arista Networks to a "neutral" rating in a research report on Wednesday, May 7th. Needham & Company LLC started coverage on shares of Arista Networks in a research report on Wednesday. They set a "buy" rating for the company. Wedbush started coverage on shares of Arista Networks in a research note on Wednesday. They set an "outperform" rating for the company. Evercore ISI reduced their price objective on shares of Arista Networks from $130.00 to $100.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Finally, Rosenblatt Securities lifted their target price on shares of Arista Networks from $85.00 to $87.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $107.47.

Insider Transactions at Arista Networks

In related news, Director Kelly Bodnar Battles sold 1,492 shares of the stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $68.49, for a total transaction of $102,187.08. Following the completion of the transaction, the director now directly owns 7,480 shares of the company's stock, valued at approximately $512,305.20. This represents a 16.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $89.03, for a total value of $712,240.00. Following the transaction, the director now directly owns 147,784 shares in the company, valued at $13,157,209.52. This trade represents a 5.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold 237,538 shares of company stock valued at $20,748,219 in the last ninety days. 3.54% of the stock is currently owned by corporate insiders.

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.