Meiji Yasuda Life Insurance Co Decreases Stock Holdings in Arista Networks, Inc. $ANET

Meiji Yasuda Life Insurance Co reduced its holdings in Arista Networks, Inc. (NYSE:ANET) by 18.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,401 shares of the technology company’s stock after selling 4,923 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in Arista Networks were worth $3,264,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in ANET. AdvisorNet Financial Inc lifted its holdings in shares of Arista Networks by 56.7% in the 3rd quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock valued at $29,000 after acquiring an additional 72 shares during the last quarter. Richardson Financial Services Inc. grew its position in Arista Networks by 141.3% in the third quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock worth $32,000 after acquiring an additional 130 shares in the last quarter. Bare Financial Services Inc increased its stake in Arista Networks by 2,118.2% during the second quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock worth $25,000 after acquiring an additional 233 shares during the last quarter. SJS Investment Consulting Inc. increased its stake in Arista Networks by 979.2% during the third quarter. SJS Investment Consulting Inc. now owns 259 shares of the technology company’s stock worth $38,000 after acquiring an additional 235 shares during the last quarter. Finally, Guerra Advisors Inc purchased a new stake in Arista Networks during the third quarter valued at approximately $41,000. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Trading Down 4.5%

NYSE:ANET opened at $133.15 on Friday. The company has a market cap of $167.31 billion, a price-to-earnings ratio of 48.24, a price-to-earnings-growth ratio of 2.36 and a beta of 1.46. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $164.94. The stock has a fifty day simple moving average of $134.45 and a 200-day simple moving average of $137.19.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Thursday, February 12th. The technology company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.75 by $0.07. Arista Networks had a net margin of 38.99% and a return on equity of 30.37%. The company had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter last year, the firm posted $0.66 EPS. The firm’s revenue was up 28.9% compared to the same quarter last year. As a group, equities research analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company raised their price objective on Arista Networks from $175.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, February 13th. Needham & Company LLC increased their price target on Arista Networks from $165.00 to $185.00 and gave the company a “buy” rating in a report on Friday, February 13th. The Goldman Sachs Group restated a “buy” rating and set a $188.00 price target (up from $165.00) on shares of Arista Networks in a report on Friday, February 13th. Evercore reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Arista Networks in a research note on Friday, February 13th. Finally, UBS Group set a $200.00 price objective on shares of Arista Networks in a research report on Tuesday, February 24th. Seventeen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $176.88.

Insider Transactions at Arista Networks

In related news, insider Kenneth Duda sold 32,000 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $142.44, for a total value of $4,558,080.00. Following the transaction, the insider owned 12,976 shares of the company’s stock, valued at $1,848,301.44. This represents a 71.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Yvonne Wassenaar sold 1,815 shares of the firm’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $132.44, for a total value of $240,378.60. Following the transaction, the director owned 12,574 shares in the company, valued at $1,665,300.56. The trade was a 12.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 196,237 shares of company stock valued at $25,865,760. 3.39% of the stock is currently owned by company insiders.

Arista Networks 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.