Mizuho Securities Co. Ltd. Sells 1,760 Shares of Arista Networks, Inc. (NYSE:ANET)

Mizuho Securities Co. Ltd. lessened its holdings in Arista Networks, Inc. (NYSE:ANET) by 75.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 560 shares of the technology company’s stock after selling 1,760 shares during the quarter. Arista Networks accounts for 0.9% of Mizuho Securities Co. Ltd.’s investment portfolio, making the stock its 25th largest position. Mizuho Securities Co. Ltd.’s holdings in Arista Networks were worth $62,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in 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 worth $10,620,270,000 after purchasing an additional 72,311,318 shares during the period. Swedbank AB raised 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 buying an additional 5,034,022 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Arista Networks by 320.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,457,263 shares of the technology company’s stock valued at $713,721,000 after buying an additional 4,919,882 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Arista Networks by 294.1% during the 4th quarter. Bank of New York Mellon Corp now owns 6,136,864 shares of the technology company’s stock worth $678,308,000 after acquiring an additional 4,579,622 shares during the period. Finally, WCM Investment Management LLC increased its holdings in Arista Networks by 292.8% in the 4th quarter. WCM Investment Management LLC now owns 6,053,181 shares of the technology company’s stock worth $674,627,000 after acquiring an additional 4,512,166 shares during the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Price Performance

Shares of ANET opened at $86.87 on Wednesday. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.58. The company has a market capitalization of $109.55 billion, a P/E ratio of 39.13, a P/E/G ratio of 3.10 and a beta of 1.08. The firm’s 50 day simple moving average is $101.47 and its 200 day simple moving average is $101.98.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data 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 company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. On average, equities analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ANET shares. UBS Group upgraded shares of Arista Networks from a “neutral” rating to a “buy” rating and increased their target price for the stock from $112.00 to $115.00 in a research report on Wednesday, March 5th. Erste Group Bank downgraded shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, March 17th. Piper Sandler reissued a “neutral” rating and set a $108.00 target price (up previously from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Arista Networks in a report on Monday, March 3rd. Finally, StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $114.00.

Insider Transactions at Arista Networks

In other news, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,537,266.72. The trade was a 86.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Marc Taxay sold 51,848 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $88.59, for a total transaction of $4,593,214.32. The disclosure for this sale can be found here. In the last three months, insiders sold 491,001 shares of company stock worth $49,112,111. 3.54% of the stock is currently owned by corporate insiders.

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.