Arista Networks, Inc. (NYSE:ANET) Stock Holdings Increased by Rakuten Securities Inc.

Rakuten Securities Inc. grew its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 559.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,656 shares of the technology company’s stock after purchasing 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 institutional investors also recently made changes to their positions in the company. CWA Asset Management Group LLC acquired a new position in shares of Arista Networks during the third quarter worth approximately $297,000. Atria Investments Inc boosted its stake in Arista Networks by 15.0% during the 3rd quarter. Atria Investments Inc now owns 16,961 shares of the technology company’s stock valued at $6,510,000 after purchasing an additional 2,218 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in Arista Networks by 18.3% during the 3rd 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 boosted its stake in Arista Networks by 58.6% during the 3rd 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 boosted its stake in Arista Networks by 19.3% during the 3rd 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 institutional investors.

Insiders Place Their Bets

In other news, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were 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 directly owns 12,976 shares in the company, valued at approximately $1,101,013.60. The trade was a 86.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kelly Bodnar Battles sold 1,488 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $107.13, for a total transaction of $159,409.44. Following the completion of the sale, the director now owns 8,128 shares of the company’s stock, valued at approximately $870,752.64. The trade was a 15.47 % 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 valued at $49,112,111. Company insiders own 3.54% of the company’s stock.

Arista Networks Trading Up 1.9 %

NYSE:ANET opened at $79.07 on Wednesday. The stock has a market capitalization of $99.72 billion, a price-to-earnings ratio of 35.62, a PEG ratio of 3.10 and a beta of 1.08. The firm has a fifty day simple moving average of $107.62 and a two-hundred day simple moving average of $102.03. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.58.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share 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 company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. Equities analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ANET has been the subject of several research reports. UBS Group raised Arista Networks from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $112.00 to $115.00 in a research note on Wednesday, March 5th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Arista Networks in a research report on Monday, March 3rd. Needham & Company LLC restated a “buy” rating and set a $145.00 price target on shares of Arista Networks in a research note on Wednesday, February 19th. Evercore ISI lifted their target price on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Finally, Wells Fargo & Company restated an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Arista Networks has a consensus rating of “Moderate Buy” and an average price target of $114.00.

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.