New York State Teachers Retirement System Sells 5,157 Shares of Arista Networks, Inc. $ANET

New York State Teachers Retirement System decreased its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 0.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 835,613 shares of the technology company’s stock after selling 5,157 shares during the period. New York State Teachers Retirement System owned about 0.07% of Arista Networks worth $121,757,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Warwick Investment Management Inc. acquired a new position in Arista Networks during the third quarter worth $239,000. Solidarity Wealth LLC increased its position in shares of Arista Networks by 2.1% during the 3rd quarter. Solidarity Wealth LLC now owns 3,861 shares of the technology company’s stock worth $563,000 after purchasing an additional 80 shares in the last quarter. Trilogy Capital Inc. increased its position in shares of Arista Networks by 7.8% during the 3rd quarter. Trilogy Capital Inc. now owns 37,018 shares of the technology company’s stock worth $5,394,000 after purchasing an additional 2,681 shares in the last quarter. Hemington Wealth Management lifted its holdings in Arista Networks by 18.1% during the 3rd quarter. Hemington Wealth Management now owns 542 shares of the technology company’s stock valued at $78,000 after purchasing an additional 83 shares during the last quarter. Finally, Philip James Wealth Mangement LLC acquired a new position in Arista Networks in the third quarter valued at about $383,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. BNP Paribas Exane raised shares of Arista Networks from a “neutral” rating to an “outperform” rating and set a $172.00 price objective for the company in a report on Thursday, September 25th. Rosenblatt Securities restated a “neutral” rating and set a $140.00 price target on shares of Arista Networks in a research report on Monday, November 24th. Morgan Stanley dropped their price target on Arista Networks from $171.00 to $159.00 and set an “overweight” rating for the company in a report on Wednesday, December 17th. Barclays reissued an “overweight” rating and issued a $183.00 price objective (up previously from $179.00) on shares of Arista Networks in a research note on Wednesday, November 5th. Finally, Zacks Research cut Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Eighteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Arista Networks presently has a consensus rating of “Moderate Buy” and an average target price of $164.44.

Arista Networks Stock Performance

NYSE ANET opened at $123.05 on Friday. The stock has a market capitalization of $154.95 billion, a P/E ratio of 46.79, a price-to-earnings-growth ratio of 2.07 and a beta of 1.41. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $164.94. The stock has a fifty day moving average of $130.43 and a 200-day moving average of $131.91.

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

Insider Transactions at Arista Networks

In other news, CEO Jayshree Ullal sold 24,042 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $124.55, for a total transaction of $2,994,431.10. Following the completion of the transaction, the chief executive officer directly owned 9,917 shares in the company, valued at approximately $1,235,162.35. The trade was a 70.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kenneth Duda sold 30,000 shares of the company’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $123.16, for a total value of $3,694,800.00. Following the completion of the sale, the insider directly owned 12,976 shares of the company’s stock, valued at approximately $1,598,124.16. This trade represents a 69.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 216,464 shares of company stock worth $28,488,988 in the last three months. Insiders own 3.39% of the company’s stock.

Arista Networks Company 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.