Public Employees Retirement Association of Colorado Increases Stock Position in Arista Networks Inc (NYSE:ANET)

Public Employees Retirement Association of Colorado boosted its stake in Arista Networks Inc (NYSE:ANET) by 22.0% during the 2nd quarter, Holdings Channel reports. The firm owned 7,555 shares of the technology company’s stock after buying an additional 1,360 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Arista Networks were worth $1,961,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Commonwealth Equity Services LLC raised its position in shares of Arista Networks by 15.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 13,694 shares of the technology company’s stock valued at $3,555,000 after buying an additional 1,854 shares in the last quarter. Swedbank raised its position in shares of Arista Networks by 56.2% during the 2nd quarter. Swedbank now owns 757,942 shares of the technology company’s stock valued at $196,777,000 after buying an additional 272,722 shares in the last quarter. Thornburg Investment Management Inc. purchased a new stake in shares of Arista Networks during the 1st quarter valued at about $18,463,000. Lido Advisors LLC purchased a new stake in shares of Arista Networks during the 1st quarter valued at about $483,000. Finally, DE Burlo Group Inc. raised its position in shares of Arista Networks by 9.1% during the 1st quarter. DE Burlo Group Inc. now owns 17,420 shares of the technology company’s stock valued at $5,478,000 after buying an additional 1,450 shares in the last quarter. Institutional investors and hedge funds own 58.70% of the company’s stock.

ANET stock traded up $4.49 during mid-day trading on Friday, reaching $221.18. The company had a trading volume of 764,400 shares, compared to its average volume of 1,051,541. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.77 and a quick ratio of 5.17. The company has a market capitalization of $16.61 billion, a PE ratio of 31.28, a price-to-earnings-growth ratio of 1.31 and a beta of 1.58. The firm has a 50 day moving average of $260.07 and a 200 day moving average of $271.30. Arista Networks Inc has a 12 month low of $187.08 and a 12 month high of $331.27.



Arista Networks (NYSE:ANET) last issued 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 business had revenue of $608.32 million for the quarter, compared to the consensus estimate of $606.78 million. Arista Networks had a net margin of 30.86% and a return on equity of 28.76%. The company’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.93 EPS. Analysts anticipate that Arista Networks Inc will post 8.67 EPS for the current year.

In other news, SVP Kenneth Duda sold 10,876 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $224.30, for a total transaction of $2,439,486.80. Following the transaction, the senior vice president now directly owns 1,971 shares in the company, valued at $442,095.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Anshul Sadana sold 8,325 shares of the stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $280.96, for a total transaction of $2,338,992.00. Following the transaction, the chief operating officer now owns 2,741 shares in the company, valued at $770,111.36. The disclosure for this sale can be found here. Insiders sold a total of 212,180 shares of company stock worth $53,764,851 over the last 90 days. Insiders own 23.83% of the company’s stock.

Several analysts have recently issued reports on the stock. Morgan Stanley decreased their target price on shares of Arista Networks from $300.00 to $275.00 and set an “equal weight” rating on the stock in a research report on Friday, June 7th. Royal Bank of Canada set a $300.00 target price on shares of Arista Networks and gave the company a “buy” rating in a research report on Friday, July 19th. Barclays assumed coverage on shares of Arista Networks in a research report on Wednesday, August 7th. They set an “overweight” rating and a $284.00 target price on the stock. Stifel Nicolaus decreased their target price on shares of Arista Networks from $294.00 to $287.00 and set a “buy” rating on the stock in a research report on Friday, May 3rd. Finally, Nomura upped their target price on shares of Arista Networks from $275.00 to $375.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Eight analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $308.78.

About Arista Networks

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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