Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. boosted its position in Arista Networks, Inc. (NYSE:ANET) by 1.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,309 shares of the technology company’s stock after buying an additional 948 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Arista Networks were worth $14,203,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Smith Salley & Associates lifted its holdings in Arista Networks by 3.9% in the 4th quarter. Smith Salley & Associates now owns 14,476 shares of the technology company’s stock worth $3,409,000 after buying an additional 549 shares in the last quarter. Stratos Wealth Partners LTD. lifted its holdings in Arista Networks by 10.7% in the 4th quarter. Stratos Wealth Partners LTD. now owns 2,222 shares of the technology company’s stock worth $523,000 after buying an additional 214 shares in the last quarter. New York State Teachers Retirement System lifted its holdings in Arista Networks by 0.3% in the 4th quarter. New York State Teachers Retirement System now owns 245,177 shares of the technology company’s stock worth $57,742,000 after buying an additional 798 shares in the last quarter. Prime Capital Investment Advisors LLC lifted its holdings in Arista Networks by 99.6% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 8,408 shares of the technology company’s stock worth $1,980,000 after buying an additional 4,196 shares in the last quarter. Finally, Fulton Bank N.A. lifted its holdings in Arista Networks by 8.5% in the 4th quarter. Fulton Bank N.A. now owns 5,344 shares of the technology company’s stock worth $1,259,000 after buying an additional 418 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ANET. Piper Sandler upped their target price on shares of Arista Networks from $254.00 to $268.00 and gave the company a “neutral” rating in a research note on Tuesday, February 13th. The Goldman Sachs Group upped their target price on shares of Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Citigroup increased their price objective on shares of Arista Networks from $220.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, December 14th. Evercore ISI reiterated an “outperform” rating and set a $300.00 price objective on shares of Arista Networks in a research note on Wednesday, March 27th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Arista Networks in a research note on Tuesday, February 13th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, Arista Networks currently has an average rating of “Moderate Buy” and a consensus target price of $275.59.

Arista Networks Stock Performance

Shares of NYSE ANET opened at $287.97 on Thursday. The stock has a fifty day moving average price of $281.14 and a two-hundred day moving average price of $240.95. The firm has a market cap of $90.03 billion, a P/E ratio of 43.83, a PEG ratio of 2.57 and a beta of 1.09. Arista Networks, Inc. has a 1 year low of $131.68 and a 1 year high of $307.74.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.38. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The firm’s quarterly revenue was up 20.8% on a year-over-year basis. During the same period last year, the company posted $1.25 EPS. On average, research analysts predict that Arista Networks, Inc. will post 6.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 18,621 shares of the stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $257.60, for a total transaction of $4,796,769.60. Following the completion of the transaction, the chief executive officer now directly owns 82,766 shares of the company’s stock, valued at approximately $21,320,521.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Jayshree Ullal sold 18,621 shares of the firm’s stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $257.60, for a total transaction of $4,796,769.60. Following the completion of the sale, the chief executive officer now directly owns 82,766 shares of the company’s stock, valued at approximately $21,320,521.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider John F. Mccool sold 416 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $300.96, for a total value of $125,199.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 336,994 shares of company stock valued at $95,800,362. 18.99% of the stock is owned by corporate insiders.

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.