Arista Networks, Inc. (NYSE:ANET) Stake Raised by Tree Line Advisors Hong Kong Ltd.

Tree Line Advisors Hong Kong Ltd. increased its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 300.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 300,000 shares of the technology company’s stock after purchasing an additional 225,000 shares during the quarter. Arista Networks accounts for approximately 6.3% of Tree Line Advisors Hong Kong Ltd.’s portfolio, making the stock its 8th biggest position. Tree Line Advisors Hong Kong Ltd.’s holdings in Arista Networks were worth $33,159,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of ANET. Vanguard Group Inc. raised its holdings in shares of Arista Networks by 304.2% in the 4th quarter. Vanguard Group Inc. now owns 96,084,951 shares of the technology company’s stock valued at $10,620,270,000 after buying an additional 72,311,318 shares during the period. Norges Bank purchased a new stake in Arista Networks during the fourth quarter worth about $1,397,833,000. State Street Corp lifted its position in shares of Arista Networks by 3.8% during the third quarter. State Street Corp now owns 11,237,635 shares of the technology company’s stock worth $4,313,229,000 after purchasing an additional 411,109 shares in the last quarter. Swedbank AB boosted its stake in shares of Arista Networks by 293.2% in the fourth quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock valued at $746,165,000 after purchasing an additional 5,034,022 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Arista Networks by 320.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,457,263 shares of the technology company’s stock valued at $713,721,000 after purchasing an additional 4,919,882 shares in the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Arista Networks news, CEO Jayshree Ullal sold 138,351 shares of Arista Networks stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the completion of the transaction, the chief executive officer now owns 92,641 shares in the company, valued at approximately $8,697,137.08. The trade was a 59.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $118.47, for a total value of $9,477,600.00. Following the sale, the senior vice president now owns 12,976 shares in the company, valued at approximately $1,537,266.72. This trade represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 491,001 shares of company stock valued at $49,112,111 over the last quarter. Company insiders own 3.54% of the company’s stock.

Arista Networks Stock Down 6.0 %

Shares of NYSE ANET opened at $81.70 on Thursday. The business has a 50-day moving average price of $100.78 and a 200 day moving average price of $101.84. The stock has a market cap of $103.04 billion, a PE ratio of 36.80, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a 52-week low of $60.08 and a 52-week high of $133.58.

Arista Networks (NYSE:ANET) last released its quarterly 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. The business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. Sell-side analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on ANET shares. Evercore ISI raised their price target on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Needham & Company LLC reissued a “buy” rating and set a $145.00 target price on shares of Arista Networks in a research note on Wednesday, February 19th. Rosenblatt Securities reaffirmed a “sell” rating and issued a $80.00 price target on shares of Arista Networks in a research report on Tuesday, February 18th. UBS Group raised Arista Networks from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $112.00 to $115.00 in a research report on Wednesday, March 5th. Finally, Citigroup raised their target price on shares of Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. One research 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. Based on data from MarketBeat, Arista Networks presently has an average 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.