Arista Networks, Inc. $ANET Shares Purchased by Global X Japan Co. Ltd.

Global X Japan Co. Ltd. raised its holdings in Arista Networks, Inc. (NYSE:ANET) by 374.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,466 shares of the technology company’s stock after purchasing an additional 29,573 shares during the quarter. Global X Japan Co. Ltd.’s holdings in Arista Networks were worth $4,909,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of ANET. Global Trust Asset Management LLC raised its position in Arista Networks by 33.0% in the third quarter. Global Trust Asset Management LLC now owns 19,273 shares of the technology company’s stock worth $2,808,000 after acquiring an additional 4,780 shares in the last quarter. Rakuten Investment Management Inc. purchased a new stake in shares of Arista Networks during the 3rd quarter worth $8,263,000. National Wealth Management Group LLC purchased a new stake in shares of Arista Networks during the 3rd quarter worth $1,296,000. Holocene Advisors LP acquired a new position in shares of Arista Networks during the 2nd quarter worth $247,451,000. Finally, Three Seasons Wealth LLC purchased a new position in shares of Arista Networks in the 3rd quarter valued at about $2,483,000. 82.47% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Price Performance

Shares of NYSE ANET opened at $122.59 on Friday. The firm’s 50-day moving average is $135.67 and its two-hundred day moving average is $137.03. The company has a market capitalization of $154.03 billion, a PE ratio of 44.42, a price-to-earnings-growth ratio of 2.39 and a beta of 1.46. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $164.94.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Thursday, February 12th. The technology company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.07. Arista Networks had a net margin of 38.99% and a return on equity of 30.37%. The business had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.38 billion. During the same period last year, the company posted $0.66 EPS. The company’s revenue was up 28.9% on a year-over-year basis. On average, analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Rosenblatt Securities boosted their price objective on shares of Arista Networks from $140.00 to $165.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. Piper Sandler reiterated an “overweight” rating and set a $175.00 price target (up from $159.00) on shares of Arista Networks in a research report on Friday, February 13th. Weiss Ratings reissued a “hold (c+)” rating on shares of Arista Networks in a research note on Monday, December 29th. Needham & Company LLC upped their price target on Arista Networks from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, February 13th. Finally, UBS Group set a $200.00 price objective on Arista Networks in a report on Tuesday, February 24th. Eighteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $176.47.

Insider Activity at Arista Networks

In other Arista Networks news, Director Yvonne Wassenaar sold 1,815 shares of the company’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $132.44, for a total value of $240,378.60. Following the transaction, the director directly owned 12,574 shares in the company, valued at approximately $1,665,300.56. This represents a 12.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kenneth Duda sold 32,000 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $134.14, for a total transaction of $4,292,480.00. Following the sale, the insider directly owned 12,976 shares in the company, valued at $1,740,600.64. This represents a 71.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 199,632 shares of company stock valued at $26,936,324. 3.39% of the stock is owned by insiders.

About Arista Networks

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.