HWG Holdings LP Has $9.27 Million Stake in Arista Networks, Inc. (NYSE:ANET)

HWG Holdings LP increased its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 344.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,844 shares of the technology company's stock after purchasing an additional 64,984 shares during the period. Arista Networks accounts for about 3.0% of HWG Holdings LP's holdings, making the stock its 11th biggest position. HWG Holdings LP's holdings in Arista Networks were worth $9,267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently modified their holdings of the company. Caitlin John LLC increased its holdings in shares of Arista Networks by 174.7% during the 4th 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 holdings in shares of Arista Networks by 335.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock worth $27,000 after buying an additional 191 shares during the last quarter. New Millennium Group LLC increased its holdings in shares of Arista Networks by 300.0% during the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock worth $29,000 after buying an additional 195 shares during the last quarter. Quarry LP increased its holdings in shares of Arista Networks by 381.5% during the 4th quarter. Quarry LP now owns 260 shares of the technology company's stock worth $29,000 after buying an additional 206 shares during the last quarter. Finally, Dunhill Financial LLC increased its holdings in shares of Arista Networks by 415.7% during the 4th quarter. Dunhill Financial LLC now owns 263 shares of the technology company's stock worth $29,000 after buying an additional 212 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $90.07, for a total value of $7,205,600.00. Following the completion of the sale, the senior vice president now owns 12,976 shares in the company, valued at approximately $1,168,748.32. This trade represents a 86.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Marc Taxay sold 51,848 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $88.59, for a total transaction of $4,593,214.32. The disclosure for this sale can be found here. Insiders sold a total of 237,538 shares of company stock valued at $20,748,219 in the last quarter. Insiders own 3.54% of the company's stock.

Arista Networks Trading Up 0.1%

Arista Networks stock traded up $0.12 on Friday, reaching $86.49. 16,490,789 shares of the stock were exchanged, compared to its average volume of 9,049,411. The stock has a market cap of $108.62 billion, a PE ratio of 38.96, a PEG ratio of 3.10 and a beta of 1.38. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $133.58. The firm has a fifty day moving average price of $81.89 and a two-hundred day moving average price of $96.60.

Arista Networks (NYSE:ANET - Get Free Report) last released its earnings results on Tuesday, May 6th. The technology company reported $0.65 earnings per share for the quarter, topping analysts' consensus estimates of $0.59 by $0.06. The firm had revenue of $2 billion during the quarter, compared to analyst estimates of $1.97 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The business's revenue was up 27.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.50 EPS. Equities analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Arista Networks declared that its board has initiated a stock buyback program on Tuesday, May 6th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the technology company to buy up to 1.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

Several brokerages recently issued reports on ANET. Needham & Company LLC initiated coverage on Arista Networks in a report on Wednesday. They issued a "buy" rating for the company. UBS Group raised shares of Arista Networks from a "neutral" rating to a "buy" rating and raised their target price for the stock from $112.00 to $115.00 in a report on Wednesday, March 5th. Piper Sandler reiterated a "neutral" rating and set a $89.00 price objective (up previously from $76.00) on shares of Arista Networks in a research note on Wednesday, May 7th. Wedbush initiated coverage on shares of Arista Networks in a research report on Wednesday. They issued an "outperform" rating on the stock. Finally, The Goldman Sachs Group lowered their price objective on shares of Arista Networks from $130.00 to $115.00 and set a "buy" rating on the stock in a research 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. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $107.47.

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.