Strs Ohio Lowers Stake in Arista Networks, Inc. $ANET

Strs Ohio lowered its position in shares of Arista Networks, Inc. (NYSE:ANET) by 7.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 659,888 shares of the technology company’s stock after selling 53,459 shares during the quarter. Strs Ohio owned approximately 0.05% of Arista Networks worth $96,152,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in ANET. Bare Financial Services Inc increased its holdings in Arista Networks by 2,118.2% in the 2nd quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock valued at $25,000 after purchasing an additional 233 shares in the last quarter. AdvisorNet Financial Inc grew its position 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 valued at $29,000 after buying an additional 72 shares during the last quarter. Richardson Financial Services Inc. lifted 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 worth $32,000 after purchasing an additional 130 shares during the last quarter. REAP Financial Group LLC boosted its holdings in shares of Arista Networks by 108.0% during the second quarter. REAP Financial Group LLC now owns 337 shares of the technology company’s stock valued at $34,000 after acquiring an additional 175 shares during the period. Finally, SJS Investment Consulting Inc. increased 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 institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Morgan Stanley dropped their target price on Arista Networks from $171.00 to $159.00 and set an “overweight” rating on the stock in a report on Wednesday, December 17th. UBS Group reiterated a “buy” rating and issued a $155.00 target price on shares of Arista Networks in a research note on Wednesday, December 3rd. Zacks Research downgraded shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. BNP Paribas Exane raised Arista Networks from a “hold” rating to an “outperform” rating in a research report on Thursday, September 25th. Finally, Erste Group Bank lowered Arista Networks from a “buy” rating to a “hold” rating in a research note on Monday, November 10th. Seventeen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $164.44.

Insider Activity at Arista Networks

In related news, insider Kenneth Duda sold 30,000 shares of the business’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $128.61, for a total transaction of $3,858,300.00. Following the completion of the transaction, the insider directly owned 12,976 shares in the company, valued at $1,668,843.36. The trade was a 69.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jayshree Ullal sold 24,042 shares of the stock in a transaction on 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 $1,235,162.35. The trade was a 70.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 216,464 shares of company stock worth $27,687,068 in the last quarter. Company insiders own 3.39% of the company’s stock.

Arista Networks Price Performance

ANET stock opened at $138.41 on Friday. The company has a fifty day moving average price of $128.52 and a two-hundred day moving average price of $133.47. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $164.94. The stock has a market cap of $174.30 billion, a price-to-earnings ratio of 52.63, a price-to-earnings-growth ratio of 2.14 and a beta of 1.41.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results 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 firm 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% on a year-over-year basis. During the same period last year, the firm posted $2.40 earnings per share. Research analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

About Arista Networks

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.