Mitsubishi UFJ Asset Management Co. Ltd. Grows Stock Position in Arista Networks, Inc. (NYSE:ANET)

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Arista Networks, Inc. (NYSE:ANET) by 333.1% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,648,229 shares of the technology company’s stock after acquiring an additional 1,267,677 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.13% of Arista Networks worth $189,876,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Korea Investment CORP increased its position in shares of Arista Networks by 259.9% during the 4th quarter. Korea Investment CORP now owns 1,054,460 shares of the technology company’s stock worth $116,549,000 after purchasing an additional 761,433 shares during the last quarter. Arlington Capital Management Inc. raised its stake in shares of Arista Networks by 300.1% in the 4th quarter. Arlington Capital Management Inc. now owns 28,446 shares of the technology company’s stock valued at $3,144,000 after acquiring an additional 21,336 shares during the period. Mendel Money Management lifted its holdings in shares of Arista Networks by 298.0% in the 4th quarter. Mendel Money Management now owns 14,196 shares of the technology company’s stock worth $1,569,000 after acquiring an additional 10,629 shares during the last quarter. Ausdal Financial Partners Inc. increased its holdings in Arista Networks by 740.6% in the 4th quarter. Ausdal Financial Partners Inc. now owns 5,489 shares of the technology company’s stock valued at $607,000 after purchasing an additional 4,836 shares during the last quarter. Finally, Financial Engines Advisors L.L.C. raised its position in Arista Networks by 286.1% in the fourth quarter. Financial Engines Advisors L.L.C. now owns 2,583 shares of the technology company’s stock valued at $286,000 after purchasing an additional 1,914 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Transactions at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $84.85, for a total value of $6,788,000.00. Following the completion of the sale, the senior vice president now owns 12,976 shares in the company, valued at approximately $1,101,013.60. The trade was a 86.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $89.03, for a total transaction of $712,240.00. Following the completion of the transaction, the director now directly owns 147,784 shares in the company, valued at $13,157,209.52. The trade was a 5.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 491,001 shares of company stock worth $49,112,111. Corporate insiders own 3.54% of the company’s stock.

Analyst Ratings Changes

ANET has been the topic of a number of recent research reports. Evercore ISI boosted their price target on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Morgan Stanley increased their target price on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Wells Fargo & Company restated an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. Citigroup increased their price objective on Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Finally, Erste Group Bank cut Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Arista Networks has an average rating of “Moderate Buy” and an average target price of $114.00.

Arista Networks Stock Down 6.0 %

Shares of Arista Networks stock opened at $81.70 on Thursday. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.58. The firm’s 50 day moving average is $100.78 and its two-hundred day moving average is $101.84. The firm has a market capitalization of $103.04 billion, a P/E ratio of 36.80, a P/E/G ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET) last posted its 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. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. As a group, research analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal 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.