Greenland Capital Management LP Raises Holdings in Arista Networks, Inc. (NYSE:ANET)

Greenland Capital Management LP raised its holdings in Arista Networks, Inc. (NYSE:ANET) by 496.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 44,841 shares of the technology company’s stock after purchasing an additional 37,317 shares during the quarter. Greenland Capital Management LP’s holdings in Arista Networks were worth $4,956,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sand Hill Global Advisors LLC increased its holdings in shares of Arista Networks by 301.9% in the 4th quarter. Sand Hill Global Advisors LLC now owns 13,061 shares of the technology company’s stock valued at $1,444,000 after purchasing an additional 9,811 shares in the last quarter. Renaissance Group LLC raised its stake in Arista Networks by 285.5% in the 4th quarter. Renaissance Group LLC now owns 358,733 shares of the technology company’s stock valued at $39,651,000 after purchasing an additional 265,668 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Arista Networks by 192.6% during the fourth quarter. Renaissance Technologies LLC now owns 1,000,100 shares of the technology company’s stock valued at $110,541,000 after buying an additional 658,300 shares during the period. Bank of Nova Scotia grew its stake in Arista Networks by 246.8% in the 4th quarter. Bank of Nova Scotia now owns 500,565 shares of the technology company’s stock worth $55,383,000 after acquiring an additional 356,211 shares during the period. Finally, FIL Ltd boosted its stake in Arista Networks by 262.9% in the 4th quarter. FIL Ltd now owns 3,712 shares of the technology company’s stock worth $410,000 after buying an additional 2,689 shares during the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Kelly Bodnar Battles sold 1,488 shares of Arista Networks stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $107.13, for a total value of $159,409.44. Following the transaction, the director now directly owns 8,128 shares of the company’s stock, valued at $870,752.64. The trade was a 15.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $112.02, for a total transaction of $896,160.00. Following the transaction, the director now owns 155,784 shares in the company, valued at $17,450,923.68. The trade was a 4.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 411,001 shares of company stock worth $39,362,831 in the last ninety days. 3.54% of the stock is owned by insiders.

Arista Networks Stock Up 5.8 %

Shares of ANET stock opened at $68.12 on Tuesday. The firm has a market cap of $85.91 billion, a PE ratio of 30.68, a P/E/G ratio of 3.10 and a beta of 1.30. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $133.58. The company’s fifty day simple moving average is $93.37 and its 200-day simple moving average is $101.18.

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

Analyst Ratings Changes

A number of research firms recently issued reports on ANET. StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Arista Networks in a report on Monday, March 3rd. Barclays reiterated an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. Morgan Stanley increased their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, Wells Fargo & Company restated an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $114.00.

About Arista Networks

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.