FUKOKU MUTUAL LIFE INSURANCE Co Has $865,000 Stock Position in Arista Networks, Inc. (NYSE:ANET)

FUKOKU MUTUAL LIFE INSURANCE Co lifted its stake in Arista Networks, Inc. (NYSE:ANET) by 300.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,824 shares of the technology company’s stock after buying an additional 5,868 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Arista Networks were worth $865,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. MidAtlantic Capital Management Inc. bought a new stake in Arista Networks during the 3rd quarter worth approximately $44,000. HM Payson & Co. increased its stake in shares of Arista Networks by 28.2% in the 3rd quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock valued at $51,000 after buying an additional 29 shares during the period. True Wealth Design LLC increased its stake in shares of Arista Networks by 2,133.3% in the 3rd quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock valued at $51,000 after buying an additional 128 shares during the period. Anchor Investment Management LLC increased its stake in shares of Arista Networks by 35.0% in the 3rd 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 period. Finally, Transcendent Capital Group LLC increased its stake in shares of Arista Networks by 75.0% in the 3rd quarter. Transcendent Capital Group LLC now owns 175 shares of the technology company’s stock valued at $67,000 after buying an additional 75 shares during the period. 82.47% of the stock is owned by institutional investors and hedge funds.

Arista Networks Trading Up 3.8 %

ANET stock opened at $96.43 on Thursday. The business’s 50-day moving average price is $112.54 and its two-hundred day moving average price is $102.09. The firm has a market cap of $121.61 billion, a PE ratio of 43.44, a P/E/G ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.57.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. On average, analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Morgan Stanley lifted their target price on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Rosenblatt Securities reissued a “sell” rating and issued a $80.00 target price on shares of Arista Networks in a research note on Tuesday, February 18th. Evercore ISI lifted their target price on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. The Goldman Sachs Group lifted their price objective on Arista Networks from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Finally, UBS Group lifted their price objective on Arista Networks from $106.00 to $112.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and an average price target of $113.79.

Insider Activity

In related news, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $412.65, for a total value of $825,300.00. Following the sale, the director now owns 42,946 shares of the company’s stock, valued at approximately $17,721,666.90. The trade was a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John F. Mccool sold 17,433 shares of Arista Networks stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $93.14, for a total value of $1,623,709.62. Following the completion of the sale, the insider now directly owns 17,433 shares in the company, valued at approximately $1,623,709.62. This represents a 50.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 416,008 shares of company stock worth $44,854,958 over the last three months. Corporate insiders own 3.54% of the company’s stock.

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.