Virginia Retirement Systems ET AL Acquires 14,200 Shares of Arista Networks Inc (NYSE:ANET)

Virginia Retirement Systems ET AL lifted its holdings in Arista Networks Inc (NYSE:ANET) by 35.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 53,800 shares of the technology company’s stock after purchasing an additional 14,200 shares during the period. Virginia Retirement Systems ET AL owned about 0.07% of Arista Networks worth $12,854,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ANET. Gradient Investments LLC purchased a new stake in Arista Networks in the 2nd quarter worth approximately $37,000. Strategic Blueprint LLC purchased a new stake in Arista Networks during the 3rd quarter valued at approximately $35,000. Meeder Asset Management Inc. grew its holdings in Arista Networks by 1,281.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 152 shares of the technology company’s stock valued at $36,000 after buying an additional 141 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in Arista Networks during the 2nd quarter valued at approximately $41,000. Finally, Financial Management Professionals Inc. grew its holdings in shares of Arista Networks by 548.0% in the second quarter. Financial Management Professionals Inc. now owns 162 shares of the technology company’s stock valued at $42,000 after purchasing an additional 137 shares in the last quarter. Hedge funds and other institutional investors own 58.80% of the company’s stock.

Shares of ANET stock traded up $4.17 during trading hours on Wednesday, reaching $245.67. 178,871 shares of the company’s stock were exchanged, compared to its average volume of 509,166. The company has a current ratio of 5.77, a quick ratio of 5.17 and a debt-to-equity ratio of 0.04. Arista Networks Inc has a 1 year low of $187.08 and a 1 year high of $331.27. The stock has a market cap of $18.51 billion, a PE ratio of 34.75, a PEG ratio of 1.47 and a beta of 1.58. The stock’s fifty day moving average price is $236.83 and its two-hundred day moving average price is $257.91.

Arista Networks (NYSE:ANET) last released its earnings results on Thursday, August 1st. The technology company reported $2.44 EPS for the quarter, topping the Zacks’ consensus estimate of $1.98 by $0.46. The firm had revenue of $608.32 million during the quarter, compared to the consensus estimate of $606.78 million. Arista Networks had a return on equity of 28.76% and a net margin of 30.86%. The company’s revenue was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.93 earnings per share. On average, equities analysts expect that Arista Networks Inc will post 8.71 EPS for the current fiscal year.

A number of research firms recently weighed in on ANET. Rosenblatt Securities set a $260.00 target price on shares of Arista Networks and gave the company a “hold” rating in a report on Tuesday, October 15th. JMP Securities reissued an “outperform” rating and issued a $280.00 target price (down from $315.00) on shares of Arista Networks in a report on Friday, August 2nd. Piper Jaffray Companies set a $272.00 target price on shares of Arista Networks and gave the company a “buy” rating in a report on Friday, October 11th. Goldman Sachs Group set a $290.00 target price on shares of Arista Networks and gave the company a “buy” rating in a report on Friday, August 30th. Finally, Nomura lowered shares of Arista Networks from a “buy” rating to a “neutral” rating and cut their target price for the company from $290.00 to $230.00 in a report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $287.32.

In related news, SVP Marc Taxay sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $276.94, for a total transaction of $553,880.00. Following the completion of the sale, the senior vice president now directly owns 13,234 shares in the company, valued at $3,665,023.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kenneth Duda sold 10,876 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $224.30, for a total value of $2,439,486.80. Following the sale, the senior vice president now owns 1,971 shares of the company’s stock, valued at $442,095.30. The disclosure for this sale can be found here. Insiders have sold 39,986 shares of company stock valued at $9,245,137 over the last quarter. 23.83% of the stock is owned by company insiders.

Arista Networks Profile

Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms, including universal leaf, spline, and universal spine products.

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Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

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