Arista Networks, Inc. $ANET Shares Bought by New York State Common Retirement Fund

New York State Common Retirement Fund grew its holdings in Arista Networks, Inc. (NYSE:ANET) by 5.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,354,111 shares of the technology company’s stock after buying an additional 71,123 shares during the quarter. New York State Common Retirement Fund’s holdings in Arista Networks were worth $197,308,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of ANET. Bare Financial Services Inc lifted its holdings in Arista Networks by 2,118.2% in the second quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock valued at $25,000 after acquiring an additional 233 shares during the period. AdvisorNet Financial Inc grew its stake in shares of Arista Networks by 56.7% during the 3rd quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after purchasing an additional 72 shares during the period. Richardson Financial Services Inc. increased its holdings in shares of Arista Networks by 141.3% in the 3rd quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock valued at $32,000 after purchasing an additional 130 shares in the last quarter. REAP Financial Group LLC increased its holdings in shares of Arista Networks by 108.0% in the 2nd quarter. REAP Financial Group LLC now owns 337 shares of the technology company’s stock valued at $34,000 after purchasing an additional 175 shares in the last quarter. Finally, SJS Investment Consulting Inc. lifted its stake in shares of Arista Networks by 979.2% in the third quarter. SJS Investment Consulting Inc. now owns 259 shares of the technology company’s stock valued at $38,000 after purchasing an additional 235 shares during the period. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on ANET shares. Zacks Research lowered shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. UBS Group restated a “buy” rating and issued a $155.00 price target on shares of Arista Networks in a report on Wednesday, December 3rd. Barclays reaffirmed an “overweight” rating and issued a $183.00 price objective (up from $179.00) on shares of Arista Networks in a research note on Wednesday, November 5th. Erste Group Bank downgraded Arista Networks from a “buy” rating to a “hold” rating in a research report on Monday, November 10th. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $140.00 price target on shares of Arista Networks in a research report on Monday, November 24th. Seventeen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.44.

Insider Activity

In related news, insider Kenneth Duda sold 26,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $128.43, for a total transaction of $3,339,180.00. Following the sale, the insider owned 522,400 shares in the company, valued at approximately $67,091,832. This trade represents a 4.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kelly Bodnar Battles sold 422 shares of Arista Networks stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $117.15, for a total transaction of $49,437.30. Following the completion of the sale, the director directly owned 8,980 shares of the company’s stock, valued at $1,052,007. The trade was a 4.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 216,464 shares of company stock valued at $27,687,068. 3.54% of the stock is owned by corporate insiders.

Arista Networks Stock Performance

Arista Networks stock opened at $150.31 on Thursday. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $164.94. The company has a market capitalization of $189.28 billion, a price-to-earnings ratio of 57.15, a PEG ratio of 2.47 and a beta of 1.41. The stock has a fifty day moving average of $129.93 and a two-hundred day moving average of $134.76.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. The business had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.26 billion. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.The business’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.40 earnings per share. On average, analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

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.