Hsbc Holdings PLC Acquires 3,226,090 Shares of Arista Networks, Inc. (NYSE:ANET)

Hsbc Holdings PLC lifted its position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 395.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,042,016 shares of the technology company's stock after purchasing an additional 3,226,090 shares during the period. Hsbc Holdings PLC owned 0.32% of Arista Networks worth $447,250,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in ANET. Caitlin John LLC increased its position in Arista Networks by 174.7% during the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company's stock worth $26,000 after acquiring an additional 152 shares during the period. Capital Advisors Ltd. LLC increased its holdings in shares of Arista Networks by 335.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock worth $27,000 after purchasing an additional 191 shares during the period. New Millennium Group LLC raised its position in shares of Arista Networks by 300.0% in the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock valued at $29,000 after buying an additional 195 shares in the last quarter. Cranbrook Wealth Management LLC boosted its stake in shares of Arista Networks by 300.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company's stock valued at $29,000 after buying an additional 198 shares during the period. Finally, Trust Co. of Vermont grew its position in Arista Networks by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company's stock worth $29,000 after buying an additional 198 shares in the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Arista Networks

In other Arista Networks news, Director Kelly Bodnar Battles sold 1,492 shares of Arista Networks stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $68.49, for a total value of $102,187.08. Following the completion of the sale, the director now directly owns 7,480 shares in the company, valued at approximately $512,305.20. The trade was a 16.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks 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 completion of the sale, the director now owns 155,784 shares of the company's stock, valued at $17,450,923.68. This represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 412,355 shares of company stock worth $39,446,799 over the last ninety days. Insiders own 3.54% of the company's stock.

Arista Networks Stock Up 3.5 %

Shares of ANET stock traded up $2.67 during trading hours on Friday, hitting $77.96. 12,456,039 shares of the company's stock traded hands, compared to its average volume of 9,102,145. The stock has a market cap of $97.89 billion, a PE ratio of 35.12, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30. The stock's 50 day simple moving average is $80.57 and its 200 day simple moving average is $98.37. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $133.58.

Arista Networks (NYSE:ANET - Get Free Report) 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 return on equity of 29.91% and a net margin of 40.72%. The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. As a group, equities research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Erste Group Bank downgraded Arista Networks from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 17th. Piper Sandler reduced their price objective on shares of Arista Networks from $108.00 to $76.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Citigroup dropped their target price on shares of Arista Networks from $121.00 to $92.00 and set a "buy" rating for the company in a research report on Monday, April 14th. UBS Group upgraded shares of Arista Networks from a "neutral" rating to a "buy" rating and increased their price target for the stock from $112.00 to $115.00 in a research report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Arista Networks from $140.00 to $110.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Arista Networks has a consensus rating of "Moderate Buy" and an average price target of $104.29.

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.