New York State Common Retirement Fund Sells 17,613 Shares of Arista Networks, Inc. (NYSE:ANET)

New York State Common Retirement Fund decreased its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 4.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 341,859 shares of the technology company’s stock after selling 17,613 shares during the period. New York State Common Retirement Fund’s holdings in Arista Networks were worth $131,212,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in ANET. First Affirmative Financial Network grew its position in shares of Arista Networks by 4.3% during the third quarter. First Affirmative Financial Network now owns 682 shares of the technology company’s stock valued at $262,000 after purchasing an additional 28 shares in the last quarter. FCG Investment Co grew its holdings in Arista Networks by 2.3% during the 2nd quarter. FCG Investment Co now owns 1,271 shares of the technology company’s stock valued at $445,000 after buying an additional 29 shares in the last quarter. Everpar Advisors LLC boosted its position in shares of Arista Networks by 1.5% during the 3rd quarter. Everpar Advisors LLC now owns 1,907 shares of the technology company’s stock valued at $732,000 after acquiring an additional 29 shares during the last quarter. HM Payson & Co. raised its holdings in Arista Networks by 28.2% during the 3rd quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock valued at $51,000 after buying an additional 29 shares during the period. Finally, Foundations Investment Advisors LLC lifted its holdings in shares of Arista Networks by 5.0% in the 3rd quarter. Foundations Investment Advisors LLC now owns 653 shares of the technology company’s stock worth $251,000 after buying an additional 31 shares during the period. Institutional investors own 82.47% of the company’s stock.

Insider Activity

In related news, Director Kelly Bodnar Battles sold 216 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $324.02, for a total value of $69,988.32. Following the sale, the director now directly owns 2,726 shares in the company, valued at approximately $883,278.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Arista Networks news, CEO Jayshree Ullal sold 17,752 shares of Arista Networks stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $354.29, for a total value of $6,289,356.08. Following the transaction, the chief executive officer now directly owns 17,681 shares in the company, valued at approximately $6,264,201.49. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kelly Bodnar Battles sold 216 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $324.02, for a total transaction of $69,988.32. Following the transaction, the director now owns 2,726 shares of the company’s stock, valued at approximately $883,278.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,522 shares of company stock valued at $20,099,338 in the last quarter. Insiders own 3.54% of the company’s stock.

Analyst Upgrades and Downgrades

ANET has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their price objective on shares of Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Jefferies Financial Group lifted their price objective on shares of Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Wells Fargo & Company raised their target price on shares of Arista Networks from $390.00 to $460.00 and gave the stock an “overweight” rating in a report on Wednesday. Barclays lifted their price target on Arista Networks from $320.00 to $341.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, Rosenblatt Securities lifted their price target on shares of Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Arista Networks currently has an average rating of “Moderate Buy” and a consensus target price of $373.88.

Arista Networks Trading Up 1.4 %

ANET stock traded up $5.50 during trading on Friday, reaching $391.94. 110,122 shares of the stock were exchanged, compared to its average volume of 2,194,930. The business has a 50 day moving average price of $375.35 and a 200-day moving average price of $337.82. Arista Networks, Inc. has a 1 year low of $203.19 and a 1 year high of $422.73. The firm has a market capitalization of $123.13 billion, a price-to-earnings ratio of 50.12, a P/E/G ratio of 3.49 and a beta of 1.07.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.38. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The firm had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the prior year, the firm posted $1.41 earnings per share. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. On average, research analysts anticipate that Arista Networks, Inc. will post 7.42 EPS for the current year.

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.