Arista Networks, Inc. (NYSE:ANET) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama decreased its stake in Arista Networks, Inc. (NYSE:ANET) by 2.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,536 shares of the technology company’s stock after selling 1,164 shares during the period. Retirement Systems of Alabama’s holdings in Arista Networks were worth $13,079,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Sandy Spring Bank boosted its holdings in shares of Arista Networks by 33.6% in the 4th quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock valued at $37,000 after buying an additional 39 shares in the last quarter. Fulton Breakefield Broenniman LLC raised its position in Arista Networks by 1.8% in the 4th quarter. Fulton Breakefield Broenniman LLC now owns 2,255 shares of the technology company’s stock valued at $531,000 after purchasing an additional 40 shares during the last quarter. Venturi Wealth Management LLC raised its position in Arista Networks by 2.3% in the 4th quarter. Venturi Wealth Management LLC now owns 1,839 shares of the technology company’s stock valued at $433,000 after purchasing an additional 41 shares during the last quarter. PDS Planning Inc raised its position in Arista Networks by 3.1% in the 4th quarter. PDS Planning Inc now owns 1,376 shares of the technology company’s stock valued at $324,000 after purchasing an additional 41 shares during the last quarter. Finally, Purus Wealth Management LLC raised its position in Arista Networks by 0.5% in the 4th quarter. Purus Wealth Management LLC now owns 8,619 shares of the technology company’s stock valued at $2,030,000 after purchasing an additional 43 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Activity at Arista Networks

In related news, Director Yvonne Wassenaar sold 224 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total value of $57,184.96. Following the sale, the director now directly owns 2,827 shares of the company’s stock, valued at approximately $721,704.83. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Arista Networks news, CEO Jayshree Ullal sold 22,000 shares of the firm’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $303.00, for a total transaction of $6,666,000.00. Following the sale, the chief executive officer now directly owns 1,665,300 shares of the company’s stock, valued at approximately $504,585,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Yvonne Wassenaar sold 224 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $255.29, for a total transaction of $57,184.96. Following the sale, the director now directly owns 2,827 shares in the company, valued at $721,704.83. The disclosure for this sale can be found here. In the last three months, insiders have sold 332,514 shares of company stock valued at $95,369,397. Insiders own 18.99% of the company’s stock.

Wall Street Analysts Forecast Growth

ANET has been the subject of several research reports. Melius Research upgraded shares of Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a research report on Monday, January 8th. JPMorgan Chase & Co. upped their price target on shares of Arista Networks from $297.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Wells Fargo & Company upped their price target on shares of Arista Networks from $225.00 to $310.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. JMP Securities reiterated a “market outperform” rating and issued a $325.00 price target on shares of Arista Networks in a research report on Tuesday, February 13th. Finally, The Goldman Sachs Group upped their price objective on shares of Arista Networks from $313.00 to $356.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $275.59.

Arista Networks Stock Down 0.5 %

Shares of ANET opened at $255.24 on Thursday. The company has a 50-day simple moving average of $279.08 and a 200-day simple moving average of $248.62. The company has a market capitalization of $80.05 billion, a PE ratio of 38.85, a P/E/G ratio of 2.25 and a beta of 1.09. Arista Networks, Inc. has a 52-week low of $131.68 and a 52-week high of $307.74.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.38. The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The firm’s revenue was up 20.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.25 EPS. On average, research analysts anticipate that Arista Networks, Inc. will post 6.7 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.