State Board of Administration of Florida Retirement System Buys 243 Shares of Arista Networks Inc (ANET)

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State Board of Administration of Florida Retirement System boosted its stake in shares of Arista Networks Inc (NYSE:ANET) by 0.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 72,466 shares of the technology company’s stock after acquiring an additional 243 shares during the period. State Board of Administration of Florida Retirement System owned 0.10% of Arista Networks worth $19,266,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Alps Advisors Inc. boosted its holdings in shares of Arista Networks by 6.9% in the 2nd quarter. Alps Advisors Inc. now owns 2,820 shares of the technology company’s stock valued at $664,000 after purchasing an additional 183 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Arista Networks by 6.4% during the 2nd quarter. CIBC Asset Management Inc now owns 3,259 shares of the technology company’s stock valued at $839,000 after acquiring an additional 196 shares in the last quarter. Xact Kapitalforvaltning AB boosted its holdings in shares of Arista Networks by 1.9% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 11,263 shares of the technology company’s stock valued at $2,900,000 after acquiring an additional 209 shares in the last quarter. Pennsylvania Trust Co boosted its holdings in shares of Arista Networks by 2.4% during the 2nd quarter. Pennsylvania Trust Co now owns 9,138 shares of the technology company’s stock valued at $2,353,000 after acquiring an additional 215 shares in the last quarter. Finally, Pittenger & Anderson Inc. boosted its holdings in shares of Arista Networks by 5.8% during the 2nd quarter. Pittenger & Anderson Inc. now owns 4,083 shares of the technology company’s stock valued at $1,051,000 after acquiring an additional 223 shares in the last quarter. Hedge funds and other institutional investors own 54.32% of the company’s stock.

In related news, insider Jayshree Ullal sold 76,659 shares of the business’s stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $306.41, for a total value of $23,489,084.19. Following the completion of the sale, the insider now directly owns 3,809 shares of the company’s stock, valued at approximately $1,167,115.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Nikos Theodosopoulos sold 110 shares of the business’s stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $273.27, for a total value of $30,059.70. Following the completion of the sale, the director now directly owns 2,073 shares of the company’s stock, valued at $566,488.71. The disclosure for this sale can be found here. Insiders sold a total of 203,820 shares of company stock valued at $60,871,675 over the last ninety days. 24.95% of the stock is currently owned by corporate insiders.

Several equities research analysts recently weighed in on ANET shares. JPMorgan Chase & Co. raised their price objective on Arista Networks from $282.00 to $287.00 and gave the company a “hold” rating in a report on Monday, July 23rd. Loop Capital raised their target price on Arista Networks to $260.00 and gave the stock a “hold” rating in a research report on Friday, August 3rd. They noted that the move was a valuation call. DA Davidson raised their target price on Arista Networks from $300.00 to $312.00 and gave the stock a “buy” rating in a research report on Friday, August 3rd. KeyCorp reaffirmed a “buy” rating and set a $310.00 target price on shares of Arista Networks in a research report on Friday, August 3rd. Finally, Argus raised their target price on Arista Networks to $320.00 and gave the stock a “buy” rating in a research report on Monday, August 6th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Arista Networks currently has an average rating of “Buy” and an average price target of $291.83.

ANET stock opened at $244.43 on Friday. Arista Networks Inc has a 1-year low of $206.86 and a 1-year high of $313.37. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.51 and a quick ratio of 4.11. The stock has a market capitalization of $19.12 billion, a PE ratio of 52.57, a price-to-earnings-growth ratio of 1.76 and a beta of 1.56.

Arista Networks (NYSE:ANET) last issued its earnings results on Thursday, November 1st. The technology company reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.21. Arista Networks had a return on equity of 29.06% and a net margin of 28.05%. The business had revenue of $563.31 million during the quarter, compared to analyst estimates of $548.81 million. During the same period in the previous year, the company posted $1.62 EPS. The firm’s revenue was up 28.7% compared to the same quarter last year. Analysts expect that Arista Networks Inc will post 6.77 earnings per share for the current year.

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Arista Networks Company Profile

Arista Networks, Inc provides cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of its 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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