Meiji Yasuda Asset Management Co Ltd. Lowers Position in Arista Networks, Inc. $ANET

Meiji Yasuda Asset Management Co Ltd. lessened its stake in Arista Networks, Inc. (NYSE:ANET) by 24.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,059 shares of the technology company’s stock after selling 10,996 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Arista Networks were worth $4,963,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Norges Bank purchased a new position in Arista Networks during the 2nd quarter worth $1,228,177,000. Massachusetts Financial Services Co. MA raised its holdings in shares of Arista Networks by 2,829.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,721,156 shares of the technology company’s stock valued at $833,630,000 after purchasing an additional 5,525,828 shares during the last quarter. Holocene Advisors LP purchased a new stake in shares of Arista Networks in the second quarter valued at about $247,451,000. Schroder Investment Management Group lifted its position in shares of Arista Networks by 14.8% during the second quarter. Schroder Investment Management Group now owns 10,494,124 shares of the technology company’s stock valued at $1,073,654,000 after purchasing an additional 1,350,593 shares in the last quarter. Finally, Panagora Asset Management Inc. boosted its holdings in Arista Networks by 282.9% during the second quarter. Panagora Asset Management Inc. now owns 1,549,486 shares of the technology company’s stock worth $158,528,000 after purchasing an additional 1,144,786 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Insider Buying and Selling

In related news, Director Yvonne Wassenaar sold 1,815 shares of Arista Networks stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $132.44, for a total value of $240,378.60. Following the completion of the transaction, the director directly owned 12,574 shares in the company, valued at approximately $1,665,300.56. The trade was a 12.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kenneth Duda sold 32,000 shares of the business’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $142.44, for a total transaction of $4,558,080.00. Following the sale, the insider directly owned 12,976 shares in the company, valued at $1,848,301.44. The trade was a 71.15% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 196,237 shares of company stock valued at $25,865,760. Company insiders own 3.54% of the company’s stock.

Arista Networks Price Performance

NYSE:ANET opened at $133.15 on Monday. The company has a market capitalization of $167.31 billion, a P/E ratio of 48.24, a P/E/G ratio of 2.36 and a beta of 1.46. The business has a fifty day simple moving average of $134.45 and a two-hundred day simple moving average of $137.23. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $164.94.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Thursday, February 12th. The technology company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.07. The company had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.38 billion. Arista Networks had a return on equity of 30.37% and a net margin of 38.99%.The firm’s revenue for the quarter was up 28.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.66 EPS. As a group, analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

ANET has been the subject of a number of recent analyst reports. KeyCorp reaffirmed an “overweight” rating and issued a $178.00 price objective (up from $170.00) on shares of Arista Networks in a research report on Friday, February 13th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Arista Networks in a research report on Monday, December 29th. Piper Sandler reiterated an “overweight” rating and set a $175.00 price target (up from $159.00) on shares of Arista Networks in a report on Friday, February 13th. Erste Group Bank cut Arista Networks from a “buy” rating to a “hold” rating in a research report on Monday, November 10th. Finally, Morgan Stanley restated an “overweight” rating and issued a $165.00 price objective on shares of Arista Networks in a research note on Friday, February 13th. Seventeen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $176.88.

Arista Networks Profile

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.