Mountain Hill Investment Partners Corp. Decreases Stock Holdings in Arista Networks, Inc. $ANET

Mountain Hill Investment Partners Corp. lessened its stake in Arista Networks, Inc. (NYSE:ANET) by 99.8% in the 3rd quarter, Holdings Channel.com reports. The fund owned 200 shares of the technology company’s stock after selling 83,100 shares during the quarter. Mountain Hill Investment Partners Corp.’s holdings in Arista Networks were worth $29,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ANET. Bare Financial Services Inc raised its position in shares of Arista Networks by 2,118.2% during the 2nd quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock worth $25,000 after purchasing an additional 233 shares during the last quarter. AdvisorNet Financial Inc raised its stake in Arista Networks by 56.7% in the 3rd quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock valued at $29,000 after purchasing an additional 72 shares during the last quarter. REAP Financial Group LLC lifted its holdings in Arista Networks by 108.0% in 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. SJS Investment Consulting Inc. boosted its stake in Arista Networks by 979.2% during the 3rd quarter. SJS Investment Consulting Inc. now owns 259 shares of the technology company’s stock worth $38,000 after purchasing an additional 235 shares during the last quarter. Finally, Solstein Capital LLC boosted its position in Arista Networks by 493.8% during the second quarter. Solstein Capital LLC now owns 380 shares of the technology company’s stock worth $39,000 after acquiring an additional 316 shares during the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Arista Networks in a report on Monday, December 29th. Morgan Stanley reduced their price target on Arista Networks from $171.00 to $159.00 and set an “overweight” rating on the stock in a report on Wednesday, December 17th. Barclays restated an “overweight” rating and set a $183.00 price objective (up from $179.00) on shares of Arista Networks in a research report on Wednesday, November 5th. Piper Sandler upgraded shares of Arista Networks from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $145.00 to $159.00 in a report on Monday, January 5th. Finally, Zacks Research downgraded shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Eighteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Arista Networks has an average rating of “Moderate Buy” and an average price target of $164.44.

Insider Buying and Selling

In other news, insider Kenneth Duda sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $123.16, for a total value of $3,694,800.00. Following the completion of the transaction, the insider owned 12,976 shares of the company’s stock, valued at approximately $1,598,124.16. This trade represents a 69.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $133.79, for a total transaction of $1,070,320.00. Following the sale, the director directly owned 17,784 shares in the company, valued at approximately $2,379,321.36. The trade was a 31.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 216,464 shares of company stock valued at $28,488,988. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Price Performance

Shares of ANET opened at $129.84 on Wednesday. The stock has a market cap of $163.50 billion, a PE ratio of 49.37, a P/E/G ratio of 2.08 and a beta of 1.41. The firm has a 50-day simple moving average of $129.27 and a two-hundred day simple moving average of $132.52. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $164.94.

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 analysts’ consensus estimates 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 quarter in the previous year, the company earned $2.40 earnings per share. The firm’s quarterly revenue was up 27.5% compared to the same quarter last year. As a group, sell-side analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

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.