Mizuho Securities Co. Ltd. Buys 450 Shares of Arista Networks, Inc. (NYSE:ANET)

Mizuho Securities Co. Ltd. boosted its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 204.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 670 shares of the technology company’s stock after purchasing an additional 450 shares during the period. Mizuho Securities Co. Ltd.’s holdings in Arista Networks were worth $158,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC boosted its stake in shares of Arista Networks by 6.7% during the 3rd quarter. International Assets Investment Management LLC now owns 2,427 shares of the technology company’s stock worth $441,000 after acquiring an additional 153 shares during the last quarter. Arkadios Wealth Advisors lifted its stake in shares of Arista Networks by 7.5% during the 3rd quarter. Arkadios Wealth Advisors now owns 1,474 shares of the technology company’s stock valued at $271,000 after buying an additional 103 shares in the last quarter. Global Retirement Partners LLC lifted its stake in shares of Arista Networks by 203.3% during the 3rd quarter. Global Retirement Partners LLC now owns 2,290 shares of the technology company’s stock valued at $426,000 after buying an additional 1,535 shares in the last quarter. HB Wealth Management LLC lifted its stake in shares of Arista Networks by 22.1% during the 3rd quarter. HB Wealth Management LLC now owns 3,362 shares of the technology company’s stock valued at $618,000 after buying an additional 609 shares in the last quarter. Finally, Montecito Bank & Trust purchased a new position in shares of Arista Networks during the 3rd quarter valued at $234,000. Institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Performance

Arista Networks stock traded up $5.81 during trading hours on Tuesday, hitting $251.28. The company had a trading volume of 2,297,441 shares, compared to its average volume of 2,467,584. The firm has a market cap of $78.56 billion, a P/E ratio of 38.25, a P/E/G ratio of 2.10 and a beta of 1.09. Arista Networks, Inc. has a 1 year low of $131.68 and a 1 year high of $307.74. The company has a 50-day moving average price of $279.29 and a two-hundred day moving average price of $246.19.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.38. The company 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 quarterly revenue was up 20.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.25 EPS. As a group, equities research analysts anticipate that Arista Networks, Inc. will post 6.7 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on ANET. Morgan Stanley lifted their target price on shares of Arista Networks from $230.00 to $272.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. 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. JMP Securities reiterated a “market outperform” rating and issued a $325.00 price target on shares of Arista Networks in a report on Tuesday, February 13th. Barclays lifted their price target on shares of Arista Networks from $272.00 to $311.00 and gave the company an “overweight” rating in a report on Tuesday, February 13th. Finally, Wells Fargo & Company lifted their price target on shares of Arista Networks from $225.00 to $310.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $275.59.

Insider Buying and Selling at Arista Networks

In other news, CEO Jayshree Ullal sold 87,418 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $278.81, for a total value of $24,373,012.58. Following the completion of the sale, the chief executive officer now owns 17,681 shares of the company’s stock, valued at approximately $4,929,639.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Jayshree Ullal sold 87,418 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $278.81, for a total value of $24,373,012.58. Following the completion of the sale, the chief executive officer now owns 17,681 shares of the company’s stock, valued at approximately $4,929,639.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John F. Mccool sold 420 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $266.08, for a total transaction of $111,753.60. The disclosure for this sale can be found here. Insiders sold a total of 334,227 shares of company stock valued at $95,828,875 in the last three months. Company insiders own 18.99% of the company’s stock.

About Arista Networks

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.