Tokio Marine Asset Management Co. Ltd. Increases Stake in Arista Networks, Inc. (NYSE:ANET)

Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 7.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,762 shares of the technology company’s stock after buying an additional 487 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Arista Networks were worth $1,593,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in ANET. Larson Financial Group LLC bought a new stake in Arista Networks in the third quarter worth $28,000. First Command Advisory Services Inc. bought a new stake in shares of Arista Networks during the third quarter worth $29,000. BluePath Capital Management LLC bought a new stake in shares of Arista Networks during the third quarter worth $33,000. NBC Securities Inc. bought a new stake in shares of Arista Networks during the third quarter worth $33,000. Finally, Atticus Wealth Management LLC lifted its position in shares of Arista Networks by 3,625.0% during the fourth quarter. Atticus Wealth Management LLC now owns 149 shares of the technology company’s stock worth $35,000 after purchasing an additional 145 shares during the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $286.52, for a total transaction of $573,040.00. Following the completion of the sale, the director now directly owns 60,946 shares in the company, valued at $17,462,247.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $286.52, for a total value of $573,040.00. Following the completion of the sale, the director now directly owns 60,946 shares in the company, valued at approximately $17,462,247.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jayshree Ullal sold 980 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $268.29, for a total value of $262,924.20. Following the completion of the sale, the chief executive officer now owns 73,051 shares of the company’s stock, valued at $19,598,852.79. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 333,494 shares of company stock worth $95,632,321. 18.99% of the stock is owned by corporate insiders.

Arista Networks Stock Up 4.9 %

Shares of ANET stock traded up $12.51 during trading hours on Thursday, hitting $267.28. 1,996,197 shares of the company’s stock were exchanged, compared to its average volume of 2,461,217. The firm has a market cap of $83.56 billion, a P/E ratio of 38.78, a P/E/G ratio of 2.15 and a beta of 1.09. The firm has a 50 day moving average of $279.08 and a two-hundred day moving average of $246.25. Arista Networks, Inc. has a fifty-two week low of $131.68 and a fifty-two week high of $307.74.

Arista Networks (NYSE:ANET) last announced its earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.38. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The business’s quarterly revenue was up 20.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.25 EPS. On average, equities analysts forecast that Arista Networks, Inc. will post 6.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ANET has been the subject of several research analyst reports. JMP Securities reiterated a “market outperform” rating and set a $325.00 target price on shares of Arista Networks in a research report on Tuesday, February 13th. KeyCorp lifted their price objective on Arista Networks from $232.00 to $287.00 and gave the company an “overweight” rating in a report on Thursday, January 18th. Rosenblatt Securities restated a “sell” rating and issued a $210.00 price objective on shares of Arista Networks in a report on Friday, April 12th. Melius upgraded Arista Networks from a “hold” rating to a “buy” rating in a report on Monday, January 8th. Finally, The Goldman Sachs Group lifted their target price on Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $275.59.

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.