Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC grew its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 395.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 4,042,016 shares of the technology company’s stock after acquiring an additional 3,226,090 shares during the quarter. Hsbc Holdings PLC’s holdings in Arista Networks were worth $447,250,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of ANET. Fayez Sarofim & Co raised its position in shares of Arista Networks by 276.6% during the 4th quarter. Fayez Sarofim & Co now owns 3,216 shares of the technology company’s stock worth $355,000 after buying an additional 2,362 shares in the last quarter. IHT Wealth Management LLC raised its stake in shares of Arista Networks by 118.3% in the 4th quarter. IHT Wealth Management LLC now owns 29,250 shares of the technology company’s stock worth $3,233,000 after buying an additional 15,851 shares in the last quarter. Goldstream Capital Management Ltd lifted its holdings in shares of Arista Networks by 296.6% in the fourth quarter. Goldstream Capital Management Ltd now owns 46,500 shares of the technology company’s stock valued at $5,140,000 after buying an additional 34,775 shares during the period. J. Safra Sarasin Holding AG boosted its stake in Arista Networks by 176.7% during the fourth quarter. J. Safra Sarasin Holding AG now owns 221,999 shares of the technology company’s stock valued at $24,538,000 after buying an additional 141,774 shares in the last quarter. Finally, OneDigital Investment Advisors LLC grew its holdings in Arista Networks by 289.0% during the fourth quarter. OneDigital Investment Advisors LLC now owns 17,197 shares of the technology company’s stock worth $1,901,000 after acquiring an additional 12,776 shares during the period. Institutional investors own 82.47% of the company’s stock.

Insider Buying and Selling

In related news, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $112.02, for a total value of $896,160.00. Following the completion of the sale, the director now directly owns 155,784 shares in the company, valued at approximately $17,450,923.68. This represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kelly Bodnar Battles sold 1,488 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $107.13, for a total value of $159,409.44. Following the sale, the director now owns 8,128 shares of the company’s stock, valued at approximately $870,752.64. This trade represents a 15.47 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 410,863 shares of company stock worth $39,344,612. Corporate insiders own 3.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. cut their price target on shares of Arista Networks from $140.00 to $110.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Needham & Company LLC restated a “buy” rating and set a $145.00 target price on shares of Arista Networks in a report on Wednesday, February 19th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Evercore ISI cut their price objective on Arista Networks from $130.00 to $100.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Finally, Barclays restated an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $106.07.

Arista Networks Price Performance

Shares of ANET opened at $67.68 on Tuesday. The company has a market capitalization of $85.35 billion, a price-to-earnings ratio of 30.49, a P/E/G ratio of 3.10 and a beta of 1.30. The business’s 50-day moving average is $83.39 and its 200-day moving average is $99.08. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $133.58.

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

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.