Mitsubishi UFJ Trust & Banking Corp Has $162.13 Million Stake in Arista Networks, Inc. (NYSE:ANET)

Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 290.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,466,819 shares of the technology company’s stock after acquiring an additional 1,091,486 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.12% of Arista Networks worth $162,128,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Caitlin John LLC grew its holdings in shares of Arista Networks by 174.7% during the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock worth $26,000 after purchasing an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC grew its holdings in Arista Networks by 335.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock worth $27,000 after acquiring an additional 191 shares during the last quarter. Cranbrook Wealth Management LLC increased its position in Arista Networks by 300.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after acquiring an additional 198 shares during the period. Trust Co. of Vermont raised its stake in shares of Arista Networks by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after acquiring an additional 198 shares during the last quarter. Finally, New Millennium Group LLC lifted its holdings in shares of Arista Networks by 300.0% during the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock worth $29,000 after purchasing an additional 195 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Stock Performance

ANET stock opened at $87.58 on Tuesday. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.58. The stock’s 50 day simple moving average is $102.03 and its 200 day simple moving average is $101.92. The company has a market cap of $110.44 billion, a P/E ratio of 39.45, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. Equities analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Insider Buying and Selling at Arista Networks

In other news, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $118.47, for a total value of $9,477,600.00. Following the transaction, the senior vice president now owns 12,976 shares in the company, valued at $1,537,266.72. This trade represents a 86.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jayshree Ullal sold 138,351 shares of Arista Networks stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $93.88, for a total value of $12,988,391.88. Following the transaction, the chief executive officer now directly owns 92,641 shares in the company, valued at approximately $8,697,137.08. The trade was a 59.89 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 491,001 shares of company stock valued at $49,112,111. Corporate insiders own 3.54% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Citigroup raised their target price on Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Piper Sandler reaffirmed a “neutral” rating and issued a $108.00 price objective (up from $106.00) on shares of Arista Networks in a research note on Wednesday, February 19th. Wells Fargo & Company restated an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Arista Networks in a research note on Monday, March 3rd. Finally, Needham & Company LLC reissued a “buy” rating and set a $145.00 target price on shares of Arista Networks in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $114.00.

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.