New York State Teachers Retirement System Increases Stock Position in Arista Networks, Inc. (NYSE:ANET)

New York State Teachers Retirement System boosted its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 288.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 887,449 shares of the technology company's stock after purchasing an additional 659,042 shares during the period. New York State Teachers Retirement System owned about 0.07% of Arista Networks worth $98,090,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. State Street Corp increased its position in shares of Arista Networks by 3.8% during the third quarter. State Street Corp now owns 11,237,635 shares of the technology company's stock worth $4,313,229,000 after buying an additional 411,109 shares during the period. Swedbank AB lifted its stake in shares of Arista Networks by 293.2% in the 4th quarter. Swedbank AB now owns 6,750,793 shares of the technology company's stock valued at $746,165,000 after purchasing an additional 5,034,022 shares during the period. WCM Investment Management LLC boosted its position in shares of Arista Networks by 292.8% during the 4th quarter. WCM Investment Management LLC now owns 6,053,181 shares of the technology company's stock valued at $674,627,000 after purchasing an additional 4,512,166 shares in the last quarter. Geode Capital Management LLC grew its stake in Arista Networks by 4.2% during the third quarter. Geode Capital Management LLC now owns 5,871,481 shares of the technology company's stock worth $2,246,705,000 after purchasing an additional 236,151 shares during the period. Finally, Jennison Associates LLC lifted its stake in Arista Networks by 307.7% in the fourth quarter. Jennison Associates LLC now owns 4,632,730 shares of the technology company's stock valued at $512,056,000 after buying an additional 3,496,497 shares during the period. 82.47% of the stock is owned by institutional investors.

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Insider Transactions at Arista Networks

In other news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares of the company's stock, valued at $1,405,171.04. This represents a 86.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John F. Mccool sold 6,340 shares of the firm's stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $98.58, for a total transaction of $625,013.05. Following the sale, the insider now owns 288 shares of the company's stock, valued at approximately $28,391.76. The trade was a 95.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 335,832 shares of company stock worth $37,787,297 in the last 90 days. Insiders own 3.54% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Morgan Stanley raised their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. UBS Group increased their price objective on shares of Arista Networks from $92.25 to $106.25 and gave the stock a "neutral" rating in a research report on Friday, November 8th. Barclays cut their price target on Arista Networks from $495.00 to $125.00 and set an "overweight" rating on the stock in a report on Wednesday, December 4th. Evercore ISI upped their target price on Arista Networks from $110.00 to $130.00 and gave the stock an "outperform" rating in a research report on Friday, January 17th. Finally, Piper Sandler restated a "neutral" rating and set a $105.25 price objective (up previously from $86.25) on shares of Arista Networks in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Arista Networks currently has an average rating of "Moderate Buy" and an average target price of $107.59.

Arista Networks Stock Down 2.8 %

ANET stock traded down $3.11 during trading on Monday, reaching $106.64. The stock had a trading volume of 12,211,763 shares, compared to its average volume of 9,228,991. The company has a market capitalization of $134.35 billion, a price-to-earnings ratio of 51.27, a P/E/G ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.57. The company's 50 day moving average is $113.94 and its two-hundred day moving average is $101.16.

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.