Greenland Capital Management LP Acquires 37,317 Shares of Arista Networks, Inc. (NYSE:ANET)

Greenland Capital Management LP boosted its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 496.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 44,841 shares of the technology company’s stock after acquiring 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 SEC filing.

Several other hedge funds have also modified their holdings of ANET. Caitlin John LLC raised its holdings in shares of 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 stake 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. Cranbrook Wealth Management LLC raised its stake in Arista Networks by 300.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock worth $29,000 after purchasing an additional 198 shares in the last quarter. 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. Finally, New Millennium Group LLC raised its stake in 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 purchasing an additional 195 shares in the last quarter. 82.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on ANET. Rosenblatt Securities reissued a “sell” rating and issued a $80.00 target price on shares of Arista Networks in a report on Tuesday, February 18th. Piper Sandler reiterated a “neutral” rating and set a $108.00 price target (up from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. The Goldman Sachs Group reiterated a “buy” rating on shares of Arista Networks in a research note on Monday, March 3rd. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. Finally, Evercore ISI lifted 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. 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.00.

Arista Networks Stock Performance

ANET stock opened at $68.12 on Tuesday. The business’s 50-day moving average is $93.37 and its two-hundred day moving average is $101.18. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $133.58. The company has a market cap of $85.91 billion, a price-to-earnings ratio of 30.68, a P/E/G ratio of 3.10 and a beta of 1.30.

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

Insider Activity at Arista Networks

In related news, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $84.85, for a total transaction of $6,788,000.00. Following the sale, the senior vice president now owns 12,976 shares in the company, valued at approximately $1,101,013.60. This trade represents a 86.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $112.02, for a total value of $896,160.00. Following the transaction, the director now directly owns 155,784 shares of the company’s stock, valued at approximately $17,450,923.68. The trade was a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 411,001 shares of company stock worth $39,362,831. Insiders own 3.54% of the company’s stock.

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.