New York State Teachers Retirement System Sells 4,702 Shares of Arista Networks, Inc. (NYSE:ANET)

New York State Teachers Retirement System lowered its position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 2.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 228,407 shares of the technology company's stock after selling 4,702 shares during the period. New York State Teachers Retirement System owned 0.07% of Arista Networks worth $87,667,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. UniSuper Management Pty Ltd lifted its holdings in shares of Arista Networks by 20.3% in the 1st quarter. UniSuper Management Pty Ltd now owns 36,329 shares of the technology company's stock worth $10,535,000 after acquiring an additional 6,133 shares during the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of Arista Networks in the 1st quarter valued at approximately $1,405,000. M&G Plc bought a new stake in shares of Arista Networks during the 1st quarter valued at $3,238,000. Nordea Investment Management AB grew its holdings in Arista Networks by 32.5% in the first quarter. Nordea Investment Management AB now owns 26,799 shares of the technology company's stock worth $7,810,000 after purchasing an additional 6,578 shares during the period. Finally, Deepwater Asset Management LLC bought a new position in Arista Networks during the 2nd quarter valued at approximately $15,084,000. Hedge funds and other institutional investors own 82.47% of the company's stock.

Insider Transactions at Arista Networks

In related news, Director Kelly Bodnar Battles sold 373 shares of the business's stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $396.48, for a total value of $147,887.04. Following the completion of the sale, the director now owns 2,192 shares in the company, valued at approximately $869,084.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Kelly Bodnar Battles sold 373 shares of the company's stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $396.48, for a total value of $147,887.04. Following the completion of the sale, the director now directly owns 2,192 shares of the company's stock, valued at $869,084.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kenneth Duda sold 20,000 shares of the firm's stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $394.69, for a total transaction of $7,893,800.00. Following the transaction, the senior vice president now directly owns 3,244 shares in the company, valued at $1,280,374.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 58,570 shares of company stock worth $21,474,782. Insiders own 3.54% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. UBS Group lifted their price objective on Arista Networks from $285.00 to $369.00 and gave the stock a "neutral" rating in a report on Wednesday, September 4th. Evercore ISI lifted their price objective on Arista Networks from $400.00 to $425.00 and gave the stock an "outperform" rating in a report on Tuesday, October 1st. Wells Fargo & Company raised their target price on Arista Networks from $340.00 to $390.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 24th. Barclays increased their price objective on shares of Arista Networks from $320.00 to $341.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 31st. Finally, KeyCorp raised their target price on Arista Networks from $349.00 to $432.00 and gave the stock an "overweight" rating in a report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Arista Networks presently has a consensus rating of "Moderate Buy" and an average target price of $369.50.

Arista Networks Trading Down 0.6 %

NYSE:ANET traded down $2.39 during midday trading on Wednesday, hitting $399.18. 171,109 shares of the company traded hands, compared to its average volume of 2,199,809. The firm has a market capitalization of $125.09 billion, a P/E ratio of 55.93, a P/E/G ratio of 3.21 and a beta of 1.07. The firm's fifty day moving average is $373.86 and its 200-day moving average is $337.07. Arista Networks, Inc. has a 12-month low of $187.68 and a 12-month high of $422.73.

Arista Networks (NYSE:ANET - Get Free Report) last announced its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.38. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The business had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter last year, the firm earned $1.41 earnings per share. The firm's quarterly revenue was up 15.9% compared to the same quarter last year. On average, research analysts expect that Arista Networks, Inc. will post 7.38 EPS for the current fiscal year.

Arista Networks Company 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.

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