Teacher Retirement System of Texas Buys 235,940 Shares of Arista Networks, Inc. (NYSE:ANET)

Teacher Retirement System of Texas increased its holdings in Arista Networks, Inc. (NYSE:ANETGet Rating) by 350.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 303,177 shares of the technology company’s stock after purchasing an additional 235,940 shares during the period. Teacher Retirement System of Texas owned approximately 0.10% of Arista Networks worth $43,582,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ANET. Huntington National Bank increased its position in Arista Networks by 300.0% in the fourth quarter. Huntington National Bank now owns 188 shares of the technology company’s stock worth $27,000 after purchasing an additional 141 shares during the last quarter. JJJ Advisors Inc. increased its position in Arista Networks by 300.0% in the fourth quarter. JJJ Advisors Inc. now owns 196 shares of the technology company’s stock worth $28,000 after purchasing an additional 147 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its position in Arista Networks by 300.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 200 shares of the technology company’s stock worth $29,000 after purchasing an additional 150 shares during the last quarter. SOA Wealth Advisors LLC. increased its position in Arista Networks by 300.0% during the fourth quarter. SOA Wealth Advisors LLC. now owns 216 shares of the technology company’s stock valued at $30,000 after acquiring an additional 162 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. increased its position in Arista Networks by 316.0% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 208 shares of the technology company’s stock valued at $30,000 after acquiring an additional 158 shares during the last quarter. Institutional investors own 67.10% of the company’s stock.

In other news, SVP Kenneth Duda sold 40,000 shares of the company’s stock in a transaction dated Thursday, February 10th. The shares were sold at an average price of $128.36, for a total transaction of $5,134,400.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Marc Taxay sold 9,621 shares of the company’s stock in a transaction dated Tuesday, March 1st. The shares were sold at an average price of $119.19, for a total transaction of $1,146,726.99. The disclosure for this sale can be found here. Over the last three months, insiders have sold 690,195 shares of company stock valued at $83,352,899. Insiders own 22.01% of the company’s stock.

NYSE:ANET traded up $3.36 during mid-day trading on Tuesday, reaching $105.84. The company’s stock had a trading volume of 49,757 shares, compared to its average volume of 2,074,553. Arista Networks, Inc. has a 1 year low of $78.33 and a 1 year high of $148.57. The stock has a fifty day moving average of $125.54 and a 200-day moving average of $129.32. The firm has a market capitalization of $32.63 billion, a PE ratio of 35.10, a price-to-earnings-growth ratio of 2.21 and a beta of 1.28.

Arista Networks (NYSE:ANETGet Rating) last released its quarterly earnings results on Monday, May 2nd. The technology company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.81 by $0.03. Arista Networks had a net margin of 29.54% and a return on equity of 21.16%. During the same quarter last year, the business earned $0.57 earnings per share. As a group, equities analysts forecast that Arista Networks, Inc. will post 3.18 earnings per share for the current year.

ANET has been the topic of a number of analyst reports. StockNews.com cut shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, May 5th. Citigroup boosted their price objective on shares of Arista Networks from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, February 15th. Wells Fargo & Company upgraded shares of Arista Networks from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $142.00 to $160.00 in a research report on Thursday, March 10th. Zacks Investment Research lowered shares of Arista Networks from a “strong-buy” rating to a “hold” rating and set a $133.00 target price for the company. in a research note on Tuesday, April 19th. Finally, Piper Sandler lowered their target price on shares of Arista Networks from $139.00 to $133.00 in a research note on Tuesday, May 3rd. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Arista Networks has an average rating of “Buy” and a consensus price target of $153.61.

Arista Networks Profile (Get Rating)

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.

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

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