Arista Networks, Inc. (NYSE:ANET) Shares Bought by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board raised its stake in Arista Networks, Inc. (NYSE:ANET) by 296.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 49,200 shares of the technology company’s stock after acquiring an additional 36,800 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Arista Networks were worth $5,438,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ANET. Creative Planning raised its stake in shares of Arista Networks by 13.1% during the 3rd quarter. Creative Planning now owns 109,174 shares of the technology company’s stock worth $41,903,000 after buying an additional 12,612 shares during the period. Cornerstone Wealth Management LLC acquired a new position in shares of Arista Networks during the 3rd quarter worth approximately $207,000. Bleakley Financial Group LLC raised its stake in Arista Networks by 26.3% in the 3rd quarter. Bleakley Financial Group LLC now owns 6,426 shares of the technology company’s stock valued at $2,466,000 after purchasing an additional 1,337 shares during the last quarter. Teamwork Financial Advisors LLC raised its stake in Arista Networks by 9.6% in the 3rd quarter. Teamwork Financial Advisors LLC now owns 55,267 shares of the technology company’s stock valued at $21,213,000 after purchasing an additional 4,847 shares during the last quarter. Finally, Secure Asset Management LLC acquired a new position in Arista Networks in the 3rd quarter valued at $284,000. 82.47% of the stock is owned by institutional investors and hedge funds.

Arista Networks Trading Down 2.8 %

ANET opened at $106.64 on Friday. The stock’s 50-day moving average price is $113.97 and its 200 day moving average price is $100.72. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.57. The firm has a market cap of $134.35 billion, a price-to-earnings ratio of 51.27, a PEG ratio of 3.10 and a beta of 1.09.

Insider Buying and Selling

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $412.65, for a total value of $825,300.00. Following the sale, the director now owns 42,946 shares of the company’s stock, valued at $17,721,666.90. This trade represents a 4.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jayshree Ullal sold 71,036 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $100.06, for a total value of $7,107,506.98. Following the sale, the chief executive officer now directly owns 70,724 shares in the company, valued at $7,076,289.82. This trade represents a 50.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 335,832 shares of company stock valued at $37,787,297. Corporate insiders own 3.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. UBS Group increased their price objective on Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a research note on Friday, November 8th. Wells Fargo & Company increased their price objective on Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Piper Sandler reissued a “neutral” rating and issued a $105.25 price objective (up from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. Barclays dropped their target price on Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. Finally, Rosenblatt Securities upped their target price on Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating 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 assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $107.59.

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.