Asset Management One Co. Ltd. Increases Stake in Arista Networks, Inc. (NYSE:ANET)

Asset Management One Co. Ltd. boosted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 280.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 483,830 shares of the technology company’s stock after buying an additional 356,647 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Arista Networks were worth $54,687,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Zions Bancorporation N.A. lifted its position in shares of Arista Networks by 6.9% in the 3rd quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock worth $160,000 after purchasing an additional 27 shares during the period. Intellectus Partners LLC lifted its stake in shares of Arista Networks by 1.4% in the 3rd quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock valued at $740,000 after purchasing an additional 27 shares during the period. Altman Advisors Inc. grew its stake in Arista Networks by 0.5% in the third quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock worth $2,250,000 after purchasing an additional 28 shares during the period. HM Payson & Co. boosted its holdings in shares of Arista Networks by 28.2% during the 3rd quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock valued at $51,000 after buying an additional 29 shares in the last quarter. Finally, Beacon Financial Advisory LLC lifted its position in Arista Networks by 4.9% during the 3rd quarter. Beacon Financial Advisory LLC now owns 640 shares of the technology company’s stock valued at $246,000 after acquiring an additional 30 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Analyst Ratings Changes

ANET has been the subject of several recent research reports. Piper Sandler reiterated a “neutral” rating and set a $105.25 target price (up from $86.25) on shares of Arista Networks in a report on Friday, November 8th. Rosenblatt Securities lifted their price target on Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a research report on Friday, November 8th. StockNews.com cut shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Evercore ISI raised their price target on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Finally, The Goldman Sachs Group lifted their target price on Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $107.59.

Arista Networks Trading Up 0.1 %

Shares of NYSE ANET opened at $109.75 on Friday. The firm has a 50 day moving average of $113.91 and a 200 day moving average of $100.65. The firm has a market capitalization of $138.26 billion, a price-to-earnings ratio of 52.77, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.57.

Insider Transactions at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 71,036 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $100.06, for a total value of $7,107,506.98. Following the completion of the sale, the chief executive officer now owns 70,724 shares in the company, valued at approximately $7,076,289.82. This represents a 50.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $108.29, for a total value of $8,663,200.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at approximately $1,405,171.04. This trade represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 335,832 shares of company stock worth $37,787,297 in the last three months. Corporate insiders own 3.54% of the company’s stock.

Arista Networks 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.