Mizuho Securities USA LLC Buys 81,201 Shares of Arista Networks, Inc. (NYSE:ANET)

Mizuho Securities USA LLC lifted its stake in Arista Networks, Inc. (NYSE:ANET) by 486.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 97,905 shares of the technology company’s stock after purchasing an additional 81,201 shares during the period. Mizuho Securities USA LLC’s holdings in Arista Networks were worth $10,821,000 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. Anchor Investment Management LLC lifted its holdings in shares of Arista Networks by 35.0% in the third quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock worth $52,000 after buying an additional 35 shares in the last quarter. Freedom Investment Management Inc. lifted its holdings in shares of Arista Networks by 2.3% in the third quarter. Freedom Investment Management Inc. now owns 1,621 shares of the technology company’s stock worth $622,000 after buying an additional 36 shares in the last quarter. LRI Investments LLC lifted its holdings in shares of Arista Networks by 3.1% in the third quarter. LRI Investments LLC now owns 1,368 shares of the technology company’s stock worth $528,000 after buying an additional 41 shares in the last quarter. Rehmann Capital Advisory Group lifted its holdings in shares of Arista Networks by 3.8% in the third quarter. Rehmann Capital Advisory Group now owns 1,177 shares of the technology company’s stock worth $453,000 after buying an additional 43 shares in the last quarter. Finally, Brooklyn Investment Group lifted its holdings in shares of Arista Networks by 3.3% in the third quarter. Brooklyn Investment Group now owns 1,862 shares of the technology company’s stock worth $715,000 after buying an additional 59 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Stock Up 0.3 %

ANET stock opened at $83.26 on Friday. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.58. The stock has a market capitalization of $104.99 billion, a price-to-earnings ratio of 37.50, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08. The firm’s fifty day simple moving average is $102.53 and its two-hundred day simple moving average is $101.60.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. As a group, equities research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insider Transactions at Arista Networks

In other news, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $89.03, for a total value of $712,240.00. Following the transaction, the director now directly owns 147,784 shares in the company, valued at approximately $13,157,209.52. This represents a 5.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $84.85, for a total transaction of $6,788,000.00. Following the completion of the transaction, the senior vice president now owns 12,976 shares in the company, valued at approximately $1,101,013.60. The trade was a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 491,001 shares of company stock worth $49,112,111. Insiders own 3.54% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Citigroup boosted their target price on shares of Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. UBS Group raised shares of Arista Networks from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $112.00 to $115.00 in a report on Wednesday, March 5th. StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Erste Group Bank downgraded shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 17th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $108.00 price target (up previously from $106.00) on shares of Arista Networks in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Arista Networks currently has a consensus rating of “Moderate Buy” and a consensus price target 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.