Kirtland Hills Capital Management LLC Acquires 2,387 Shares of Arista Networks, Inc. (NYSE:ANET)

Kirtland Hills Capital Management LLC boosted its holdings in Arista Networks, Inc. (NYSE:ANET) by 447.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,920 shares of the technology company’s stock after buying an additional 2,387 shares during the period. Kirtland Hills Capital Management LLC’s holdings in Arista Networks were worth $323,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. bought a new position in Arista Networks in the 3rd quarter worth approximately $44,000. HM Payson & Co. increased its position in shares of Arista Networks by 28.2% during the third quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock valued at $51,000 after purchasing an additional 29 shares during the period. True Wealth Design LLC increased its position in shares of Arista Networks by 2,133.3% during the third quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock valued at $51,000 after purchasing an additional 128 shares during the period. Anchor Investment Management LLC increased its position in shares of Arista Networks by 35.0% during the third quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock valued at $52,000 after purchasing an additional 35 shares during the period. Finally, Transcendent Capital Group LLC increased its position in shares of Arista Networks by 75.0% during the third quarter. Transcendent Capital Group LLC now owns 175 shares of the technology company’s stock valued at $67,000 after purchasing an additional 75 shares during the period. 82.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ANET shares. UBS Group boosted their price objective on Arista Networks from $106.00 to $112.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. The Goldman Sachs Group boosted their price target on Arista Networks from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Evercore ISI boosted their price target on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Citigroup boosted their price target on Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Finally, Rosenblatt Securities reaffirmed a “sell” rating and issued a $80.00 price target on shares of Arista Networks in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $113.79.

Arista Networks Stock Performance

Arista Networks stock opened at $92.85 on Wednesday. The firm has a market cap of $117.10 billion, a P/E ratio of 41.83, a P/E/G ratio of 3.10 and a beta of 1.09. The business’s fifty day moving average is $112.78 and its two-hundred day moving average is $102.13. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.57.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. On average, equities research analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Insider Activity

In other news, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $412.65, for a total transaction of $825,300.00. Following the transaction, the director now owns 42,946 shares of the company’s stock, valued at $17,721,666.90. This represents a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John F. Mccool sold 288 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $108.70, for a total value of $31,305.60. The disclosure for this sale can be found here. Insiders have sold 260,224 shares of company stock valued at $30,242,856 over the last 90 days. 3.54% of the stock is owned by company 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.