Arista Networks, Inc. (NYSE:ANET) Shares Sold by Meiji Yasuda Life Insurance Co

by · The Markets Daily

Meiji Yasuda Life Insurance Co lowered its stake in Arista Networks, Inc. (NYSE:ANET – Free Report) by 4.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,205 shares of the technology company’s stock after selling 470 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in Arista Networks were worth $3,226,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. GQG Partners LLC acquired a new position in shares of Arista Networks in the 1st quarter worth approximately $881,848,000. Swedbank AB purchased a new position in shares of Arista Networks during the first quarter worth $521,767,000. Vanguard Group Inc. grew its stake in shares of Arista Networks by 5.7% in the fourth quarter. Vanguard Group Inc. now owns 29,494,876 shares of the technology company’s stock valued at $6,946,338,000 after buying an additional 1,596,040 shares in the last quarter. TD Asset Management Inc raised its holdings in shares of Arista Networks by 145.5% in the 4th quarter. TD Asset Management Inc now owns 794,935 shares of the technology company’s stock valued at $187,215,000 after buying an additional 471,099 shares during the period. Finally, Schroder Investment Management Group lifted its stake in Arista Networks by 29.9% during the 4th quarter. Schroder Investment Management Group now owns 1,635,783 shares of the technology company’s stock worth $385,243,000 after acquiring an additional 376,478 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Activity at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $347.00, for a total value of $8,675,000.00. Following the completion of the sale, the chief executive officer now owns 1,600,800 shares in the company, valued at $555,477,600. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Jayshree Ullal sold 25,000 shares of Arista Networks stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $347.00, for a total value of $8,675,000.00. Following the transaction, the chief executive officer now directly owns 1,600,800 shares of the company’s stock, valued at approximately $555,477,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Marc Taxay sold 624 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $354.71, for a total transaction of $221,339.04. The disclosure for this sale can be found here. Insiders sold a total of 106,989 shares of company stock valued at $37,891,416 in the last three months. 3.54% of the stock is currently owned by company insiders.

Arista Networks Trading Up 0.5 %

ANET stock opened at $360.97 on Wednesday. The stock has a market cap of $113.11 billion, a P/E ratio of 50.27, a PEG ratio of 2.70 and a beta of 1.07. Arista Networks, Inc. has a twelve month low of $168.25 and a twelve month high of $376.50. The company’s 50 day moving average is $340.74 and its two-hundred day moving average is $315.02.

Arista Networks (NYSE:ANET – Get Free Report) last announced its quarterly earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.38. The firm had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. Arista Networks’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.41 earnings per share. On average, equities research analysts predict that Arista Networks, Inc. will post 7.38 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on ANET shares. Barclays boosted their price target on shares of Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Piper Sandler upped their target price on shares of Arista Networks from $302.00 to $345.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. UBS Group raised their price target on shares of Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Wells Fargo & Company increased their price objective on Arista Networks from $340.00 to $390.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Finally, Citigroup boosted their target price on Arista Networks from $330.00 to $385.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $358.63.

Read Our Latest Research Report on Arista Networks

Arista Networks Profile

(Free Report)

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.

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