Meiji Yasuda Asset Management Co Ltd. Trims Stock Position in Arista Networks, Inc. $ANET

Meiji Yasuda Asset Management Co Ltd. lessened its position in shares of Arista Networks, Inc. (NYSE:ANET) by 24.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 34,059 shares of the technology company’s stock after selling 10,996 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Arista Networks were worth $4,963,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Walkner Condon Financial Advisors LLC grew its position in shares of Arista Networks by 0.4% during the 3rd quarter. Walkner Condon Financial Advisors LLC now owns 18,509 shares of the technology company’s stock valued at $2,697,000 after purchasing an additional 70 shares in the last quarter. AdvisorNet Financial Inc grew its position in Arista Networks by 56.7% during the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after buying an additional 72 shares in the last quarter. Crown Wealth Group LLC grew its position in Arista Networks by 2.4% during the third quarter. Crown Wealth Group LLC now owns 3,175 shares of the technology company’s stock worth $463,000 after buying an additional 75 shares in the last quarter. Fragasso Financial Advisors Inc increased its stake in Arista Networks by 1.8% in the 3rd quarter. Fragasso Financial Advisors Inc now owns 4,237 shares of the technology company’s stock worth $616,000 after acquiring an additional 76 shares during the last quarter. Finally, West Family Investments Inc. raised its holdings in shares of Arista Networks by 0.9% in the 3rd quarter. West Family Investments Inc. now owns 8,364 shares of the technology company’s stock valued at $1,219,000 after acquiring an additional 76 shares in the last quarter. 82.47% of the stock is owned by institutional investors.

Arista Networks Price Performance

ANET opened at $133.15 on Monday. The stock’s 50 day simple moving average is $134.45 and its 200 day simple moving average is $137.23. The firm has a market cap of $167.31 billion, a price-to-earnings ratio of 48.24, a PEG ratio of 2.36 and a beta of 1.46. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $164.94.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Thursday, February 12th. The technology company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.07. The firm had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.38 billion. Arista Networks had a return on equity of 30.37% and a net margin of 38.99%.The business’s revenue was up 28.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.66 earnings per share. As a group, sell-side analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insider Buying and Selling

In related news, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $140.43, for a total transaction of $1,123,440.00. Following the completion of the sale, the director directly owned 9,784 shares in the company, valued at $1,373,967.12. This represents a 44.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Kenneth Duda sold 32,000 shares of the stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $142.44, for a total transaction of $4,558,080.00. Following the sale, the insider directly owned 12,976 shares of the company’s stock, valued at $1,848,301.44. The trade was a 71.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 196,237 shares of company stock valued at $25,865,760 over the last three months. 3.54% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ANET shares. UBS Group set a $200.00 target price on shares of Arista Networks in a research note on Tuesday, February 24th. Barclays restated an “overweight” rating and set a $184.00 price objective (up from $183.00) on shares of Arista Networks in a research report on Friday, February 13th. Evercore reiterated an “outperform” rating and issued a $200.00 target price on shares of Arista Networks in a research report on Friday, February 13th. Erste Group Bank downgraded Arista Networks from a “buy” rating to a “hold” rating in a research report on Monday, November 10th. Finally, Rosenblatt Securities upped their price objective on Arista Networks from $140.00 to $165.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. Seventeen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Arista Networks presently has an average rating of “Moderate Buy” and a consensus price target of $176.88.

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.