Nissay Asset Management Corp Japan ADV Boosts Holdings in Arista Networks, Inc. (NYSE:ANET)

Nissay Asset Management Corp Japan ADV raised its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 316.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 192,317 shares of the technology company's stock after acquiring an additional 146,115 shares during the quarter. Nissay Asset Management Corp Japan ADV's holdings in Arista Networks were worth $21,738,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Buying and Selling at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 138,351 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the completion of the sale, the chief executive officer now owns 92,641 shares of the company's stock, valued at $8,697,137.08. This represents a 59.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $89.03, for a total transaction of $712,240.00. Following the completion of the sale, the director now directly owns 147,784 shares of the company's stock, valued at approximately $13,157,209.52. This represents a 5.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 410,867 shares of company stock valued at $37,056,669 in the last quarter. Company insiders own 3.39% of the company's stock.

Arista Networks Stock Performance

Shares of ANET stock traded up $0.24 on Friday, hitting $96.31. 5,866,947 shares of the company's stock traded hands, compared to its average volume of 9,063,159. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $133.58. The company's fifty day simple moving average is $80.29 and its 200 day simple moving average is $97.21. The stock has a market capitalization of $120.95 billion, a price-to-earnings ratio of 43.38, a P/E/G ratio of 3.10 and a beta of 1.38.

Arista Networks (NYSE:ANET - Get Free Report) last released its earnings results on Tuesday, May 6th. The technology company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.59 by $0.06. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same quarter last year, the firm earned $0.50 EPS. The firm's quarterly revenue was up 27.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Arista Networks announced that its board has approved a stock buyback program on Tuesday, May 6th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the technology company to purchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $130.00 target price on shares of Arista Networks in a report on Thursday. UBS Group raised shares of Arista Networks from a "neutral" rating to a "buy" rating and upped their target price for the stock from $112.00 to $115.00 in a report on Wednesday, March 5th. Rosenblatt Securities upped their target price on shares of Arista Networks from $85.00 to $87.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Morgan Stanley upped their target price on shares of Arista Networks from $73.00 to $100.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Finally, Erste Group Bank lowered shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a report on Monday, March 17th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $107.14.

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.