Arista Networks, Inc. (NYSE:ANET) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado lowered its position in Arista Networks, Inc. (NYSE:ANET) by 2.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 37,010 shares of the technology company’s stock after selling 1,077 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Arista Networks were worth $12,971,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ANET. Benjamin Edwards Inc. acquired a new position in Arista Networks in the first quarter valued at approximately $26,000. Beacon Capital Management LLC boosted its holdings in Arista Networks by 500.0% during the 2nd quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after acquiring an additional 65 shares during the period. LGT Financial Advisors LLC acquired a new position in Arista Networks in the 2nd quarter valued at about $27,000. Financial Synergies Wealth Advisors Inc. increased its stake in Arista Networks by 872.7% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock worth $31,000 after purchasing an additional 96 shares during the period. Finally, Byrne Asset Management LLC acquired a new stake in shares of Arista Networks during the second quarter worth about $33,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ANET shares. Piper Sandler upped their target price on shares of Arista Networks from $302.00 to $345.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. Jefferies Financial Group boosted their price target on shares of Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Morgan Stanley raised their price objective on shares of Arista Networks from $325.00 to $355.00 and gave the company an “overweight” rating in a report on Thursday, July 18th. Bank of America increased their target price on Arista Networks from $320.00 to $380.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Finally, Erste Group Bank reaffirmed a “buy” rating on shares of Arista Networks in a report on Friday, June 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $358.63.

Insider Buying and Selling

In other news, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $352.93, for a total transaction of $705,860.00. Following the transaction, the director now directly owns 52,946 shares in the company, valued at $18,686,231.78. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Arista Networks news, 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 value of $69,988.32. Following the sale, the director now owns 2,726 shares of the company’s stock, valued at $883,278.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $352.93, for a total transaction of $705,860.00. Following the completion of the sale, the director now directly owns 52,946 shares in the company, valued at $18,686,231.78. The disclosure for this sale can be found here. Insiders sold a total of 107,361 shares of company stock valued at $38,024,123 over the last three months. 3.54% of the stock is currently owned by company insiders.

Arista Networks Price Performance

Shares of Arista Networks stock opened at $384.46 on Friday. The stock has a market capitalization of $120.48 billion, a price-to-earnings ratio of 53.55, a PEG ratio of 2.70 and a beta of 1.07. The firm’s fifty day simple moving average is $341.55 and its 200-day simple moving average is $316.71. Arista Networks, Inc. has a 12 month low of $168.25 and a 12 month high of $385.50.

Arista Networks (NYSE:ANET) last announced its earnings results 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 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 analysts’ expectations of $1.66 billion. During the same period in the prior year, the company earned $1.41 earnings per share. The business’s revenue was up 15.9% compared to the same quarter last year. Analysts anticipate that Arista Networks, Inc. will post 7.38 earnings per share for the current 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.