Mitsubishi UFJ Trust & Banking Corp Sells 575,872 Shares of Arista Networks, Inc. $ANET

Key Points

• Mitsubishi UFJ Trust & Banking Corp reduced its stake in Arista Networks by 42.8%, selling 575,872 shares in Q4 and now holds 770,520 shares worth about $100.96 million.
• Company insiders have been heavy sellers recently — Kenneth Duda sold 32,000 shares under a Rule 10b5‑1 plan, and insiders have sold a total of 1,502,729 shares (≈$246.4M) in the last 90 days, leaving insiders with roughly 3.54% ownership.
• Analysts remain broadly positive with a consensus "Buy" rating and a $177.83 target (several firms raised targets, e.g., Goldman $188, UBS $200), and Arista recently beat EPS and revenue estimates with revenue up 28.9% YoY.

Mitsubishi UFJ Trust & Banking Corp reduced its position in Arista Networks, Inc. (NYSE:ANET - Free Report) by 42.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 770,520 shares of the technology company's stock after selling 575,872 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.06% of Arista Networks worth $100,961,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Global Trust Asset Management LLC lifted its stake in shares of Arista Networks by 33.0% in the 3rd quarter. Global Trust Asset Management LLC now owns 19,273 shares of the technology company's stock worth $2,808,000 after purchasing an additional 4,780 shares during the period. Rakuten Investment Management Inc. purchased a new position in shares of Arista Networks in the third quarter worth approximately $8,263,000. National Wealth Management Group LLC bought a new stake in Arista Networks during the third quarter valued at approximately $1,296,000. Three Seasons Wealth LLC purchased a new stake in Arista Networks during the third quarter valued at approximately $2,483,000. Finally, BI Asset Management Fondsmaeglerselskab A S increased its holdings in Arista Networks by 38.3% during the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 662,139 shares of the technology company's stock valued at $96,480,000 after buying an additional 183,515 shares during the last quarter. Institutional investors own 82.47% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ANET shares. UBS Group set a $200.00 price target on shares of Arista Networks in a research note on Tuesday, February 24th. Weiss Ratings upgraded Arista Networks from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, April 14th. Rosenblatt Securities raised Arista Networks from a "neutral" rating to a "buy" rating and raised their target price for the stock from $165.00 to $180.00 in a report on Tuesday, April 7th. The Goldman Sachs Group reiterated a "buy" rating and set a $188.00 target price (up from $165.00) on shares of Arista Networks in a research report on Friday, February 13th. Finally, Morgan Stanley reissued an "overweight" rating and set a $165.00 price target on shares of Arista Networks in a report on Friday, February 13th. Three analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $177.83.

Insiders Place Their Bets

In related news, insider Kenneth Duda sold 32,000 shares of the stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $163.31, for a total value of $5,225,920.00. Following the completion of the transaction, the insider directly owned 12,976 shares of the company's stock, valued at $2,119,110.56. This trade represents a 71.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Charles H. Giancarlo sold 8,000 shares of the business's stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $125.95, for a total transaction of $1,007,600.00. Following the sale, the director directly owned 216,333 shares in the company, valued at $27,247,141.35. This trade represents a 3.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 1,502,729 shares of company stock valued at $246,427,959. 3.54% of the stock is currently owned by corporate insiders.

Arista Networks Stock Down 2.5%

Shares of ANET opened at $172.50 on Tuesday. Arista Networks, Inc. has a 52-week low of $76.88 and a 52-week high of $179.80. The business has a fifty day moving average of $140.09 and a 200 day moving average of $137.22. The company has a market cap of $217.20 billion, a PE ratio of 62.50, a P/E/G ratio of 3.11 and a beta of 1.48.

Arista Networks (NYSE:ANET - Get Free Report) last posted its quarterly earnings results on Thursday, February 12th. The technology company reported $0.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.75 by $0.07. The business had revenue of $2.49 billion for 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.66 EPS. As a group, research analysts anticipate that Arista Networks, Inc. will post 3.17 earnings per share for the current fiscal year.

Arista Networks Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.