Teachers Retirement System of The State of Kentucky Raises Stock Position in Arista Networks, Inc. (NYSE:ANET)

Teachers Retirement System of The State of Kentucky lifted its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 281.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 168,179 shares of the technology company's stock after purchasing an additional 124,040 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Arista Networks were worth $18,589,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in ANET. Caitlin John LLC increased its position 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 acquiring an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC increased 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 purchasing an additional 191 shares in the last quarter. New Millennium Group LLC raised its stake in shares of Arista Networks by 300.0% in 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 last quarter. Cranbrook Wealth Management LLC lifted its holdings in shares of Arista Networks by 300.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company's stock valued at $29,000 after purchasing an additional 198 shares in the last quarter. Finally, Trust Co. of Vermont boosted its position 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 buying an additional 198 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Arista Networks Price Performance

NYSE ANET traded up $4.49 during trading hours on Thursday, reaching $75.25. 11,753,218 shares of the company's stock traded hands, compared to its average volume of 9,114,120. The firm has a market cap of $94.49 billion, a PE ratio of 33.90, a PEG ratio of 3.10 and a beta of 1.30. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $133.58. The firm has a 50-day simple moving average of $81.85 and a 200 day simple moving average of $98.68.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS 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 firm had revenue of $1.93 billion for the quarter, compared to analysts' expectations of $1.90 billion. Sell-side analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Analyst Ratings Changes

ANET has been the subject of a number of analyst reports. Citigroup lowered their price target on Arista Networks from $121.00 to $92.00 and set a "buy" rating for the company in a research report on Monday, April 14th. JPMorgan Chase & Co. cut their target price on Arista Networks from $140.00 to $110.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Barclays reaffirmed an "overweight" rating on shares of Arista Networks in a research report on Monday, March 3rd. Erste Group Bank cut Arista Networks from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 17th. Finally, Evercore ISI decreased their target price on Arista Networks from $130.00 to $100.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Arista Networks presently has a consensus rating of "Moderate Buy" and a consensus target price of $104.29.

Insider Activity

In related news, Director Charles H. Giancarlo sold 8,000 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $112.02, for a total value of $896,160.00. Following the completion of the transaction, the director now directly owns 155,784 shares in the company, valued at $17,450,923.68. The trade was a 4.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kelly Bodnar Battles sold 1,488 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $107.13, for a total value of $159,409.44. Following the sale, the director now owns 8,128 shares in the company, valued at approximately $870,752.64. This represents a 15.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 410,863 shares of company stock worth $39,344,612 over the last three months. 3.54% of the stock is currently owned by corporate insiders.

Arista Networks Profile

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.