Rakuten Securities Inc. Makes New $35,000 Investment in Arista Networks, Inc. (NYSE:ANET)

Rakuten Securities Inc. purchased a new position in Arista Networks, Inc. (NYSE:ANET) during the 4th quarter, Holdings Channel reports. The firm purchased 148 shares of the technology company’s stock, valued at approximately $35,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Arista Networks by 22.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 62,862 shares of the technology company’s stock worth $14,805,000 after acquiring an additional 11,714 shares during the period. Desjardins Global Asset Management Inc. lifted its holdings in shares of Arista Networks by 164.3% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 9,281 shares of the technology company’s stock worth $2,186,000 after acquiring an additional 5,769 shares during the period. Wealth Alliance lifted its holdings in shares of Arista Networks by 2.7% during the 4th quarter. Wealth Alliance now owns 11,198 shares of the technology company’s stock worth $2,637,000 after acquiring an additional 295 shares during the period. Guerra Pan Advisors LLC lifted its holdings in shares of Arista Networks by 74.8% during the 4th quarter. Guerra Pan Advisors LLC now owns 2,315 shares of the technology company’s stock worth $545,000 after acquiring an additional 991 shares during the period. Finally, Keel Point LLC bought a new position in shares of Arista Networks during the 4th quarter worth about $224,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Arista Networks Price Performance

Shares of NYSE:ANET opened at $257.30 on Friday. The company has a 50 day moving average of $281.02 and a 200-day moving average of $244.15. Arista Networks, Inc. has a one year low of $131.68 and a one year high of $307.74. The stock has a market cap of $80.44 billion, a price-to-earnings ratio of 39.16, a P/E/G ratio of 2.24 and a beta of 1.09.

Arista Networks (NYSE:ANET) last announced its earnings results on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, topping the consensus estimate of $1.70 by $0.38. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The firm’s revenue was up 20.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.25 earnings per share. Equities research analysts anticipate that Arista Networks, Inc. will post 6.7 earnings per share for the current year.

Analysts Set New Price Targets

ANET has been the subject of a number of analyst reports. Melius Research raised shares of Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 price objective for the company in a report on Monday, January 8th. Piper Sandler lifted their price target on shares of Arista Networks from $254.00 to $268.00 and gave the company a “neutral” rating in a report on Tuesday, February 13th. Rosenblatt Securities reissued a “sell” rating and set a $210.00 price target on shares of Arista Networks in a report on Friday, April 12th. JMP Securities reissued a “market outperform” rating and set a $325.00 price target on shares of Arista Networks in a report on Tuesday, February 13th. Finally, Needham & Company LLC reissued a “buy” rating and set a $320.00 price target on shares of Arista Networks in a report on Tuesday, February 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $275.59.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $286.52, for a total value of $573,040.00. Following the completion of the sale, the director now owns 60,946 shares in the company, valued at $17,462,247.92. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Jayshree Ullal sold 22,000 shares of the firm’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $303.00, for a total transaction of $6,666,000.00. Following the completion of the sale, the chief executive officer now owns 1,665,300 shares in the company, valued at approximately $504,585,900. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $286.52, for a total transaction of $573,040.00. Following the sale, the director now owns 60,946 shares of the company’s stock, valued at approximately $17,462,247.92. The disclosure for this sale can be found here. Insiders sold a total of 342,229 shares of company stock worth $97,968,530 over the last quarter. 18.99% of the stock is currently owned by insiders.

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.