Arista Networks, Inc. $ANET Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 4.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,087,703 shares of the technology company’s stock after purchasing an additional 92,324 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.17% of Arista Networks worth $304,199,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ANET. Vanguard Group Inc. grew its position in shares of Arista Networks by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 100,000,830 shares of the technology company’s stock valued at $14,571,121,000 after buying an additional 1,007,730 shares during the last quarter. Cresset Asset Management LLC lifted its holdings in Arista Networks by 1.0% in the second quarter. Cresset Asset Management LLC now owns 26,374,373 shares of the technology company’s stock worth $2,698,362,000 after acquiring an additional 263,272 shares during the last quarter. Geode Capital Management LLC boosted its stake in Arista Networks by 0.5% in the second quarter. Geode Capital Management LLC now owns 25,576,483 shares of the technology company’s stock valued at $2,606,694,000 after acquiring an additional 128,977 shares during the period. Norges Bank acquired a new position in Arista Networks in the second quarter valued at approximately $1,228,177,000. Finally, Schroder Investment Management Group grew its holdings in shares of Arista Networks by 14.8% during the second quarter. Schroder Investment Management Group now owns 10,494,124 shares of the technology company’s stock valued at $1,073,654,000 after purchasing an additional 1,350,593 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Trading Up 3.2%

Shares of NYSE:ANET opened at $132.90 on Thursday. The firm has a market cap of $167.00 billion, a P/E ratio of 48.15, a P/E/G ratio of 2.28 and a beta of 1.42. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $164.94. The company has a 50 day moving average of $134.19 and a 200-day moving average of $137.44.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Thursday, February 12th. The technology company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.07. Arista Networks had a return on equity of 30.37% and a net margin of 38.99%.The company had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.38 billion. During the same period last year, the firm earned $0.66 EPS. The firm’s revenue for the quarter was up 28.9% on a year-over-year basis. Equities research analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ANET. Needham & Company LLC raised their price target on Arista Networks from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, February 13th. Barclays reaffirmed an “overweight” rating and issued a $184.00 target price (up from $183.00) on shares of Arista Networks in a research report on Friday, February 13th. Erste Group Bank downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Monday, November 10th. UBS Group set a $200.00 price objective on shares of Arista Networks in a report on Tuesday. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $188.00 target price (up from $165.00) on shares of Arista Networks in a research note on Friday, February 13th. Seventeen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Arista Networks currently has an average rating of “Moderate Buy” and a consensus price target of $176.88.

Insiders Place Their Bets

In other news, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $140.43, for a total value of $1,123,440.00. Following the transaction, the director owned 9,784 shares of the company’s stock, valued at $1,373,967.12. The trade was a 44.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Kenneth Duda sold 26,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $142.35, for a total transaction of $3,701,100.00. Following the completion of the sale, the insider owned 512,400 shares in the company, valued at $72,940,140. The trade was a 4.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 194,422 shares of company stock worth $25,620,741. 3.39% of the stock is owned by corporate insiders.

About Arista Networks

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.