Meiji Yasuda Life Insurance Co Acquires 21,262 Shares of Arista Networks, Inc. (NYSE:ANET)

Meiji Yasuda Life Insurance Co lifted its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 312.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 28,071 shares of the technology company's stock after buying an additional 21,262 shares during the period. Meiji Yasuda Life Insurance Co's holdings in Arista Networks were worth $3,103,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Caitlin John LLC grew its holdings in shares of Arista Networks by 174.7% in the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company's stock worth $26,000 after purchasing an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC increased its position in Arista Networks by 335.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock worth $27,000 after purchasing an additional 191 shares during the period. New Millennium Group LLC raised its holdings in Arista Networks by 300.0% during the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock worth $29,000 after purchasing an additional 195 shares during the last quarter. Quarry LP lifted its position in Arista Networks by 381.5% during the 4th quarter. Quarry LP now owns 260 shares of the technology company's stock valued at $29,000 after purchasing an additional 206 shares during the period. Finally, Cranbrook Wealth Management LLC grew its position in shares of Arista Networks by 300.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company's stock worth $29,000 after buying an additional 198 shares during the period. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Stock Down 0.7 %

Shares of NYSE ANET traded down $0.61 during trading hours on Monday, hitting $90.41. The company had a trading volume of 6,979,823 shares, compared to its average volume of 9,167,740. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $133.58. The firm's 50 day moving average is $79.15 and its 200-day moving average is $97.69. The stock has a market capitalization of $113.52 billion, a P/E ratio of 40.73, a price-to-earnings-growth ratio of 3.10 and a beta of 1.38.

Arista Networks (NYSE:ANET - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.02. The firm had revenue of $1.93 billion during the quarter, compared to analysts' expectations of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. On average, sell-side analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Insider Activity

In related news, SVP Marc Taxay sold 51,848 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $88.59, for a total value of $4,593,214.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jayshree Ullal sold 138,351 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the sale, the chief executive officer now owns 92,641 shares in the company, valued at $8,697,137.08. The trade was a 59.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 412,355 shares of company stock valued at $39,259,279 over the last three months. Insiders own 3.54% of the company's stock.

Analysts Set New Price Targets

ANET has been the topic of a number of analyst reports. Citigroup cut their price target on Arista Networks from $121.00 to $92.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Wells Fargo & Company reiterated an "overweight" rating on shares of Arista Networks in a report on Monday, March 3rd. Evercore ISI decreased their price target on shares of Arista Networks from $130.00 to $100.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Piper Sandler lowered their price objective on shares of Arista Networks from $108.00 to $76.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Arista Networks in a report on Monday, March 3rd. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Arista Networks presently has a consensus rating of "Moderate Buy" and a consensus price target of $108.36.

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.