Meiji Yasuda Asset Management Co Ltd. Buys 40,080 Shares of Arista Networks, Inc. (NYSE:ANET)

Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 293.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 53,733 shares of the technology company’s stock after purchasing an additional 40,080 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Arista Networks were worth $5,939,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Anchor Investment Management LLC grew its holdings in shares of Arista Networks by 35.0% during the third quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock valued at $52,000 after buying an additional 35 shares during the last quarter. Freedom Investment Management Inc. lifted its position in Arista Networks by 2.3% in the 3rd quarter. Freedom Investment Management Inc. now owns 1,621 shares of the technology company’s stock valued at $622,000 after acquiring an additional 36 shares in the last quarter. LRI Investments LLC boosted its stake in Arista Networks by 3.1% during the 3rd quarter. LRI Investments LLC now owns 1,368 shares of the technology company’s stock valued at $528,000 after purchasing an additional 41 shares during the last quarter. Rehmann Capital Advisory Group increased its holdings in shares of Arista Networks by 3.8% in the 3rd quarter. Rehmann Capital Advisory Group now owns 1,177 shares of the technology company’s stock worth $453,000 after purchasing an additional 43 shares in the last quarter. Finally, Brooklyn Investment Group raised its stake in shares of Arista Networks by 3.3% in the third quarter. Brooklyn Investment Group now owns 1,862 shares of the technology company’s stock worth $715,000 after purchasing an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on ANET. StockNews.com downgraded Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Morgan Stanley lifted their price target on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. The Goldman Sachs Group restated a “buy” rating on shares of Arista Networks in a research report on Monday, March 3rd. Citigroup lifted their target price on shares of Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Finally, Piper Sandler restated a “neutral” rating and issued a $108.00 price target (up from $106.00) on shares of Arista Networks in a research note on Wednesday, February 19th. 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 company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $114.00.

Insider Buying and Selling

In other news, CEO Jayshree Ullal sold 138,351 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $93.88, for a total value of $12,988,391.88. Following the transaction, the chief executive officer now owns 92,641 shares of the company’s stock, valued at approximately $8,697,137.08. The trade was a 59.89 % 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, 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 transaction, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at $1,101,013.60. The trade was a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 491,001 shares of company stock valued at $49,112,111. Company insiders own 3.54% of the company’s stock.

Arista Networks Stock Down 0.7 %

NYSE ANET opened at $86.87 on Wednesday. The stock’s 50-day moving average price is $101.47 and its 200-day moving average price is $101.98. The company has a market capitalization of $109.55 billion, a P/E ratio of 39.13, 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 earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The company had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. Research analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current 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.