Daiwa Securities Group Inc. Boosts Stock Position in Arista Networks, Inc. (NYSE:ANET)

Daiwa Securities Group Inc. lifted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 8.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,412 shares of the technology company’s stock after buying an additional 1,764 shares during the period. Daiwa Securities Group Inc.’s holdings in Arista Networks were worth $5,514,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ANET. Sandy Spring Bank lifted its holdings in shares of Arista Networks by 33.6% in the 4th quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock worth $37,000 after acquiring an additional 39 shares during the last quarter. Venturi Wealth Management LLC raised its position in Arista Networks by 2.3% in the 4th quarter. Venturi Wealth Management LLC now owns 1,839 shares of the technology company’s stock worth $433,000 after purchasing an additional 41 shares during the period. Purus Wealth Management LLC lifted its stake in Arista Networks by 0.5% in the fourth quarter. Purus Wealth Management LLC now owns 8,619 shares of the technology company’s stock worth $2,030,000 after purchasing an additional 43 shares during the last quarter. Congress Park Capital LLC boosted its position in Arista Networks by 0.6% during the fourth quarter. Congress Park Capital LLC now owns 7,739 shares of the technology company’s stock valued at $1,823,000 after buying an additional 43 shares during the period. Finally, Moody Lynn & Lieberson LLC grew its stake in shares of Arista Networks by 0.7% during the fourth quarter. Moody Lynn & Lieberson LLC now owns 6,394 shares of the technology company’s stock valued at $1,506,000 after buying an additional 44 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Down 4.4 %

ANET opened at $245.99 on Friday. Arista Networks, Inc. has a 52 week low of $131.68 and a 52 week high of $307.74. The stock has a market cap of $76.90 billion, a PE ratio of 37.44, a PEG ratio of 2.21 and a beta of 1.09. The business has a 50 day moving average of $280.29 and a 200-day moving average of $244.55.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.70 by $0.38. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The company’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.25 earnings per share. Equities analysts anticipate that Arista Networks, Inc. will post 6.7 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ANET shares. Needham & Company LLC restated a “buy” rating and set a $320.00 target price on shares of Arista Networks in a report on Tuesday, February 13th. KeyCorp increased their price objective on Arista Networks from $232.00 to $287.00 and gave the company an “overweight” rating in a research note on Thursday, January 18th. Melius upgraded shares of Arista Networks from a “hold” rating to a “buy” rating in a report on Monday, January 8th. Morgan Stanley upped their price target on shares of Arista Networks from $230.00 to $272.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Finally, Evercore ISI reissued an “outperform” rating and issued a $300.00 price target on shares of Arista Networks in a report on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $275.59.

Insider Activity at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 8,002 shares of the firm’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $267.39, for a total transaction of $2,139,654.78. Following the completion of the transaction, the chief executive officer now owns 74,764 shares of the company’s stock, valued at $19,991,145.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Arista Networks news, CEO Jayshree Ullal sold 8,002 shares of the business’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $267.39, for a total value of $2,139,654.78. Following the sale, the chief executive officer now directly owns 74,764 shares of the company’s stock, valued at $19,991,145.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $290.05, for a total value of $5,801,000.00. Following the transaction, the senior vice president now owns 3,244 shares of the company’s stock, valued at $940,922.20. The disclosure for this sale can be found here. Insiders sold a total of 342,229 shares of company stock valued at $97,968,530 in the last three months. Company insiders own 18.99% of the company’s stock.

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.