Rakuten Securities Inc. Buys 3,102 Shares of Arista Networks, Inc. (NYSE:ANET)

Rakuten Securities Inc. lifted its holdings in Arista Networks, Inc. (NYSE:ANET) by 559.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,656 shares of the technology company’s stock after acquiring an additional 3,102 shares during the quarter. Rakuten Securities Inc.’s holdings in Arista Networks were worth $404,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CWA Asset Management Group LLC bought a new stake in Arista Networks during the 3rd quarter valued at about $297,000. Atria Investments Inc boosted its holdings in shares of Arista Networks by 15.0% in the third quarter. Atria Investments Inc now owns 16,961 shares of the technology company’s stock worth $6,510,000 after buying an additional 2,218 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in Arista Networks by 18.3% during the third quarter. Venturi Wealth Management LLC now owns 3,400 shares of the technology company’s stock valued at $1,305,000 after purchasing an additional 527 shares in the last quarter. Versor Investments LP lifted its holdings in Arista Networks by 58.6% during the third quarter. Versor Investments LP now owns 3,331 shares of the technology company’s stock valued at $1,279,000 after purchasing an additional 1,231 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV lifted its holdings in Arista Networks by 19.3% during the third quarter. Nations Financial Group Inc. IA ADV now owns 4,917 shares of the technology company’s stock valued at $1,887,000 after purchasing an additional 794 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ANET shares. The Goldman Sachs Group reissued a “buy” rating on shares of Arista Networks in a report on Monday, March 3rd. Citigroup boosted their price target on shares of Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Barclays reiterated an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. Piper Sandler reiterated a “neutral” rating and set a $108.00 price objective (up previously from $106.00) on shares of Arista Networks in a research report on Wednesday, February 19th. Finally, StockNews.com cut shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $114.00.

Insider Buying and Selling

In related news, CEO Jayshree Ullal sold 138,351 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the transaction, the chief executive officer now directly owns 92,641 shares in the company, valued at approximately $8,697,137.08. This represents a 59.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now owns 12,976 shares of the company’s stock, valued at $1,101,013.60. This represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 491,001 shares of company stock worth $49,112,111 over the last 90 days. 3.54% of the stock is owned by insiders.

Arista Networks Stock Up 1.9 %

ANET opened at $79.07 on Wednesday. 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 price is $107.62 and its 200-day moving average price is $102.03. The company has a market cap of $99.72 billion, a P/E ratio of 35.62, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET) last posted its quarterly 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 business 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%. On average, research analysts anticipate that Arista Networks, Inc. will post 2.2 EPS 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.