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

Daiwa Securities Group Inc. boosted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 317.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 205,984 shares of the technology company’s stock after acquiring an additional 156,592 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Arista Networks were worth $22,767,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ANET. Caitlin John LLC boosted its holdings in Arista Networks by 174.7% during the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after acquiring an additional 152 shares during the period. Capital Advisors Ltd. LLC lifted its holdings in shares of Arista Networks by 335.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock worth $27,000 after buying an additional 191 shares during the period. Cranbrook Wealth Management LLC lifted its holdings in shares of Arista Networks by 300.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock worth $29,000 after buying an additional 198 shares during the period. Trust Co. of Vermont lifted its holdings in shares of Arista Networks by 300.0% in the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock worth $29,000 after buying an additional 198 shares during the period. Finally, New Millennium Group LLC lifted its holdings in shares of Arista Networks by 300.0% in the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock worth $29,000 after buying an additional 195 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ANET shares. Morgan Stanley upped their target price on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. UBS Group upgraded Arista Networks from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $112.00 to $115.00 in a research note on Wednesday, March 5th. Piper Sandler restated a “neutral” rating and set a $108.00 price objective (up from $106.00) on shares of Arista Networks in a research note on Wednesday, February 19th. The Goldman Sachs Group restated a “buy” rating on shares of Arista Networks in a research note on Monday, March 3rd. Finally, Evercore ISI upped their price objective on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $114.00.

Arista Networks Stock Down 7.0 %

Arista Networks stock opened at $77.53 on Tuesday. The firm has a market cap of $97.77 billion, a price-to-earnings ratio of 34.92, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.58. The business’s 50-day moving average price is $108.24 and its 200 day moving average price is $102.10.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. The firm 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%. Equities analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insider Buying and Selling

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $84.85, for a total transaction of $6,788,000.00. Following the transaction, the senior vice president now owns 12,976 shares in the company, valued at approximately $1,101,013.60. This represents a 86.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Marc Taxay sold 51,848 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $88.59, for a total value of $4,593,214.32. The disclosure for this sale can be found here. Insiders have sold a total of 491,001 shares of company stock valued at $49,112,111 over the last ninety days. Company 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.