Arista Networks, Inc. (NYSE:ANET) Shares Acquired by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. increased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 8.1% in the fourth quarter, HoldingsChannel reports. The firm owned 23,412 shares of the technology company’s stock after acquiring an additional 1,764 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Arista Networks were worth $5,514,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Morgan Stanley raised its holdings in shares of Arista Networks by 162.2% during the fourth quarter. Morgan Stanley now owns 5,549,335 shares of the technology company’s stock worth $673,412,000 after purchasing an additional 3,432,952 shares during the last quarter. Norges Bank acquired a new stake in Arista Networks during the 4th quarter worth about $308,885,000. FMR LLC raised its stake in shares of Arista Networks by 32.2% during the 3rd quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock valued at $1,897,906,000 after buying an additional 2,515,864 shares during the last quarter. Schroder Investment Management Group lifted its holdings in shares of Arista Networks by 439.3% in the 3rd quarter. Schroder Investment Management Group now owns 1,259,305 shares of the technology company’s stock valued at $231,624,000 after buying an additional 1,025,815 shares during the period. Finally, 1832 Asset Management L.P. boosted its stake in shares of Arista Networks by 1,424.3% in the fourth quarter. 1832 Asset Management L.P. now owns 875,198 shares of the technology company’s stock worth $106,205,000 after buying an additional 817,781 shares during the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Arista Networks

In other Arista Networks news, Director Yvonne Wassenaar sold 224 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total value of $57,184.96. Following the transaction, the director now directly owns 2,827 shares of the company’s stock, valued at approximately $721,704.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Arista Networks news, Director Yvonne Wassenaar sold 224 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $255.29, for a total value of $57,184.96. Following the completion of the sale, the director now directly owns 2,827 shares in the company, valued at approximately $721,704.83. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jayshree Ullal sold 8,002 shares of the firm’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 completion of the sale, the chief executive officer now directly owns 74,764 shares of the company’s stock, valued at $19,991,145.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 342,229 shares of company stock valued at $97,968,530. Corporate insiders own 18.99% of the company’s stock.

Arista Networks Stock Performance

Shares of ANET opened at $245.99 on Friday. The stock has a 50 day moving average price of $280.29 and a 200 day moving average price of $244.55. Arista Networks, Inc. has a one year low of $131.68 and a one year high of $307.74. The stock has a market capitalization of $76.90 billion, a price-to-earnings ratio of 37.44, a PEG ratio of 2.21 and a beta of 1.09.

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on ANET shares. Melius Research upgraded Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a research report on Monday, January 8th. The Goldman Sachs Group increased their price target on shares of Arista Networks from $313.00 to $356.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Melius upgraded shares of Arista Networks from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. Rosenblatt Securities reissued a “sell” rating and set a $210.00 target price on shares of Arista Networks in a research note on Friday, April 12th. Finally, KeyCorp lifted their price target on Arista Networks from $232.00 to $287.00 and gave the company an “overweight” rating in a research note on Thursday, January 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $275.59.

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.