Asset Management One Co. Ltd. Purchases 356,647 Shares of Arista Networks, Inc. (NYSE:ANET)

Asset Management One Co. Ltd. grew its position in Arista Networks, Inc. (NYSE:ANET) by 280.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 483,830 shares of the technology company’s stock after acquiring an additional 356,647 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Arista Networks were worth $54,687,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. G&S Capital LLC purchased a new stake in Arista Networks during the 4th quarter valued at $347,000. AFT Forsyth & Company Inc. raised its position in Arista Networks by 301.8% in the 4th quarter. AFT Forsyth & Company Inc. now owns 10,736 shares of the technology company’s stock worth $1,187,000 after purchasing an additional 8,064 shares during the period. Hemington Wealth Management grew its stake in shares of Arista Networks by 409.7% during the fourth quarter. Hemington Wealth Management now owns 316 shares of the technology company’s stock valued at $34,000 after buying an additional 254 shares during the last quarter. TFC Financial Management Inc. boosted its holdings in Arista Networks by 276.2% during the 4th quarter. TFC Financial Management Inc. now owns 1,452 shares of the technology company’s stock valued at $160,000 after acquiring an additional 1,066 shares during the period. Finally, HMS Capital Management LLC increased its stake in Arista Networks by 289.4% in the fourth quarter. HMS Capital Management LLC now owns 4,272 shares of the technology company’s stock worth $472,000 after purchasing an additional 3,175 shares during the period. 82.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ANET has been the topic of several recent analyst reports. Barclays reduced their price target on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. UBS Group lifted their target price on Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a research report on Friday, November 8th. Piper Sandler reaffirmed a “neutral” rating and issued a $105.25 price objective (up from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. Morgan Stanley upped their price target on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.59.

Insider Buying and Selling at Arista Networks

In related news, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $115.61, for a total transaction of $9,248,800.00. Following the completion of the transaction, the senior vice president now owns 12,976 shares of the company’s stock, valued at $1,500,155.36. This trade represents a 86.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John F. Mccool sold 6,340 shares of the 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 sale, the insider now directly owns 288 shares in the company, valued at $28,391.76. This represents a 95.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 335,832 shares of company stock worth $37,787,297. 3.54% of the stock is owned by corporate insiders.

Arista Networks Stock Up 0.1 %

ANET opened at $109.75 on Friday. The firm’s 50-day moving average price is $113.91 and its 200-day moving average price is $100.65. The company has a market cap of $138.26 billion, a P/E ratio of 52.77, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a 52-week low of $60.08 and a 52-week high of $133.57.

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.