Hsbc Holdings PLC Has $286.91 Million Stake in Arista Networks, Inc. $ANET

Key Points

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Hsbc Holdings PLC reduced its holdings in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 8.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,707,100 shares of the technology company's stock after selling 334,916 shares during the period. Hsbc Holdings PLC owned 0.30% of Arista Networks worth $286,905,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ANET. Clearstead Trust LLC boosted its position in Arista Networks by 5.1% during the first quarter. Clearstead Trust LLC now owns 2,455 shares of the technology company's stock valued at $190,000 after buying an additional 119 shares during the period. Pier 88 Investment Partners LLC boosted its position in Arista Networks by 1.5% during the first quarter. Pier 88 Investment Partners LLC now owns 7,960 shares of the technology company's stock valued at $617,000 after buying an additional 120 shares during the period. Optimum Investment Advisors boosted its position in Arista Networks by 31.3% during the first quarter. Optimum Investment Advisors now owns 525 shares of the technology company's stock valued at $41,000 after buying an additional 125 shares during the period. PFG Advisors boosted its position in Arista Networks by 2.7% during the first quarter. PFG Advisors now owns 5,061 shares of the technology company's stock valued at $392,000 after buying an additional 131 shares during the period. Finally, Harbour Investments Inc. boosted its position in Arista Networks by 9.4% during the first quarter. Harbour Investments Inc. now owns 1,624 shares of the technology company's stock valued at $126,000 after buying an additional 139 shares during the period. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 1,785,165 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $136.22, for a total transaction of $243,175,176.30. Following the completion of the transaction, the chief executive officer owned 5,698,074 shares of the company's stock, valued at approximately $776,191,640.28. This trade represents a 23.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 5,767,742 shares of company stock worth $714,048,068 over the last ninety days. 3.39% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ANET. Needham & Company LLC upped their price target on shares of Arista Networks from $130.00 to $155.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. The Goldman Sachs Group upped their price objective on shares of Arista Networks from $115.00 to $155.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. BNP Paribas downgraded shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, June 11th. Erste Group Bank raised shares of Arista Networks from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Finally, Redburn Atlantic started coverage on shares of Arista Networks in a research note on Wednesday, May 28th. They set a "buy" rating and a $112.00 price objective for the company. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, Arista Networks currently has an average rating of "Moderate Buy" and an average price target of $138.07.

Arista Networks Price Performance

ANET stock opened at $137.99 on Tuesday. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $141.99. The company has a market cap of $173.43 billion, a P/E ratio of 54.27, a PEG ratio of 3.23 and a beta of 1.37. The firm has a 50-day moving average of $110.80 and a 200 day moving average of $96.15.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The technology company reported $0.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.65 by $0.08. Arista Networks had a net margin of 40.90% and a return on equity of 31.05%. The company had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same period in the prior year, the firm earned $0.53 earnings per share. Arista Networks's revenue was up 30.4% on a year-over-year basis. On average, equities research analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Arista Networks declared that its Board of Directors has authorized a share buyback plan on Tuesday, May 6th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the technology company to buy up to 1.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.

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.

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