148 Shares in Arista Networks, Inc. (NYSE:ANET) Acquired by Rakuten Securities Inc.

Rakuten Securities Inc. acquired a new position in shares of Arista Networks, Inc. (NYSE:ANET) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 148 shares of the technology company’s stock, valued at approximately $35,000.

Several other institutional investors have also recently modified their holdings of ANET. Vanguard Group Inc. raised its holdings in Arista Networks by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 27,898,836 shares of the technology company’s stock valued at $5,131,433,000 after acquiring an additional 84,212 shares during the last quarter. FMR LLC raised its holdings in Arista Networks by 32.2% in the 3rd quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock valued at $1,897,906,000 after acquiring an additional 2,515,864 shares during the last quarter. State Street Corp raised its holdings in Arista Networks by 3.2% in the 1st quarter. State Street Corp now owns 9,991,923 shares of the technology company’s stock valued at $1,677,231,000 after acquiring an additional 313,036 shares during the last quarter. Morgan Stanley raised its holdings in Arista Networks by 162.2% in the 4th quarter. Morgan Stanley now owns 5,549,335 shares of the technology company’s stock valued at $673,412,000 after acquiring an additional 3,432,952 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Arista Networks by 1.8% in the 1st quarter. Geode Capital Management LLC now owns 5,112,297 shares of the technology company’s stock valued at $856,254,000 after acquiring an additional 91,829 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ANET shares. Melius Research upgraded Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a report on Monday, January 8th. Needham & Company LLC reissued a “buy” rating and set a $320.00 price objective on shares of Arista Networks in a research note on Tuesday, February 13th. Evercore ISI reissued an “outperform” rating and set a $300.00 price objective on shares of Arista Networks in a research note on Wednesday, March 27th. The Goldman Sachs Group boosted their price objective on shares of Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Finally, Piper Sandler boosted their price objective on shares of Arista Networks from $254.00 to $268.00 and gave the company a “neutral” rating in a research note on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Arista Networks presently has an average rating of “Moderate Buy” and a consensus price target of $275.59.

Insider Activity

In other news, CEO Jayshree Ullal sold 8,002 shares of the company’s stock in a transaction dated Monday, January 22nd. The shares were 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 owns 74,764 shares in the company, valued at approximately $19,991,145.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Yvonne Wassenaar sold 224 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total transaction of $57,184.96. Following the sale, the director now owns 2,827 shares in the company, valued at $721,704.83. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jayshree Ullal sold 8,002 shares of the stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $267.39, for a total transaction of $2,139,654.78. Following the sale, the chief executive officer now owns 74,764 shares in the company, valued at approximately $19,991,145.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 342,229 shares of company stock worth $97,968,530. 18.99% of the stock is currently owned by corporate insiders.

Arista Networks Trading Down 0.8 %

Shares of Arista Networks stock opened at $257.30 on Friday. The company has a fifty day moving average price of $281.02 and a 200 day moving average price of $244.15. Arista Networks, Inc. has a twelve month low of $131.68 and a twelve month high of $307.74. The stock has a market cap of $80.44 billion, a price-to-earnings ratio of 39.16, a price-to-earnings-growth ratio of 2.24 and a beta of 1.09.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.38. The company had revenue of $1.54 billion during 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 revenue for the quarter was up 20.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.25 EPS. Analysts forecast that Arista Networks, Inc. will post 6.7 earnings per share for the current year.

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.