Mirae Asset Global Investments Co. Ltd. Acquires 178,068 Shares of Arista Networks, Inc. (NYSE:ANET)

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 425.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 219,908 shares of the technology company’s stock after acquiring an additional 178,068 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Arista Networks were worth $24,742,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of ANET. Y.D. More Investments Ltd bought a new position in shares of Arista Networks in the fourth quarter worth $88,000. Jackson Wealth Management LLC grew its stake in Arista Networks by 452.1% during the fourth quarter. Jackson Wealth Management LLC now owns 4,450 shares of the technology company’s stock worth $492,000 after buying an additional 3,644 shares in the last quarter. Weaver Capital Management LLC increased its holdings in Arista Networks by 305.2% in the 4th quarter. Weaver Capital Management LLC now owns 21,287 shares of the technology company’s stock valued at $2,353,000 after buying an additional 16,033 shares during the period. Montgomery Investment Management Inc. lifted its holdings in shares of Arista Networks by 300.0% during the 4th quarter. Montgomery Investment Management Inc. now owns 5,600 shares of the technology company’s stock worth $619,000 after acquiring an additional 4,200 shares during the period. Finally, Groesbeck Investment Management Corp NJ boosted its position in shares of Arista Networks by 384.3% during the 4th quarter. Groesbeck Investment Management Corp NJ now owns 14,704 shares of the technology company’s stock worth $1,625,000 after acquiring an additional 11,668 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Analyst Upgrades and Downgrades

ANET has been the subject of several research analyst reports. Morgan Stanley boosted their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Rosenblatt Securities upped their price objective on Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a research report on Friday, November 8th. Wells Fargo & Company raised their price objective on Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Barclays lowered their target price on Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. Finally, The Goldman Sachs Group raised their price target on shares of Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Arista Networks currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.83.

Insider Activity at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 71,036 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $100.06, for a total transaction of $7,107,506.98. Following the sale, the chief executive officer now owns 70,724 shares of the company’s stock, valued at approximately $7,076,289.82. This represents a 50.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John F. Mccool sold 6,340 shares of Arista Networks stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $98.58, for a total value of $625,013.05. Following the completion of the transaction, the insider now directly owns 288 shares of the company’s stock, valued at approximately $28,391.76. This trade represents a 95.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 255,832 shares of company stock worth $28,538,497 over the last ninety days. Insiders own 3.54% of the company’s stock.

Arista Networks Stock Up 2.8 %

NYSE ANET opened at $115.43 on Thursday. The company has a market capitalization of $145.41 billion, a price-to-earnings ratio of 55.49, a PEG ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.57. The stock has a fifty day simple moving average of $112.28 and a 200 day simple moving average of $99.36.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.08. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The business’s quarterly revenue was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.41 earnings per share. Research analysts expect that Arista Networks, Inc. will post 1.97 earnings per share for the current fiscal year.

Arista Networks Company 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.