California Public Employees Retirement System Raises Stock Position in Arista Networks, Inc. $ANET

California Public Employees Retirement System raised its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 2.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,143,649 shares of the technology company’s stock after acquiring an additional 56,467 shares during the quarter. California Public Employees Retirement System owned approximately 0.17% of Arista Networks worth $219,317,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Stablepoint Partners LLC raised its stake in Arista Networks by 0.8% during the 2nd quarter. Stablepoint Partners LLC now owns 9,406 shares of the technology company’s stock valued at $962,000 after purchasing an additional 77 shares during the period. Telos Capital Management Inc. grew its holdings in Arista Networks by 1.0% during the 2nd quarter. Telos Capital Management Inc. now owns 9,260 shares of the technology company’s stock valued at $947,000 after buying an additional 88 shares in the last quarter. Wealthcare Advisory Partners LLC raised its position in shares of Arista Networks by 1.6% during the second quarter. Wealthcare Advisory Partners LLC now owns 6,038 shares of the technology company’s stock valued at $618,000 after buying an additional 95 shares during the last quarter. Putney Financial Group LLC lifted its holdings in shares of Arista Networks by 0.7% in the second quarter. Putney Financial Group LLC now owns 14,139 shares of the technology company’s stock worth $1,447,000 after buying an additional 95 shares in the last quarter. Finally, 1900 Wealth Management LLC lifted its holdings in shares of Arista Networks by 2.3% in the second quarter. 1900 Wealth Management LLC now owns 4,338 shares of the technology company’s stock worth $444,000 after buying an additional 98 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Arista Networks Trading Down 0.0%

ANET opened at $128.54 on Monday. The stock has a 50-day moving average of $140.51 and a 200 day moving average of $125.58. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $164.94. The firm has a market cap of $161.87 billion, a P/E ratio of 48.87, a P/E/G ratio of 2.47 and a beta of 1.41.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.03. The business had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.26 billion. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.The company’s revenue for the quarter was up 27.5% on a year-over-year basis. During the same period last year, the company earned $2.40 EPS. On average, research analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Arista Networks news, Director Kelly Bodnar Battles sold 422 shares of Arista Networks stock in a transaction on Friday, November 21st. The shares were sold at an average price of $117.15, for a total transaction of $49,437.30. Following the completion of the transaction, the director directly owned 8,980 shares of the company’s stock, valued at $1,052,007. The trade was a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $128.09, for a total transaction of $1,024,720.00. Following the transaction, the director owned 25,784 shares in the company, valued at $3,302,672.56. This trade represents a 23.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,522,152 shares of company stock valued at $223,569,587 in the last three months. Corporate insiders own 3.54% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on ANET. William Blair reaffirmed an “outperform” rating on shares of Arista Networks in a research note on Friday, September 12th. Melius Research raised their price objective on Arista Networks from $160.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Weiss Ratings upgraded Arista Networks from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 1st. Zacks Research lowered Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Finally, Wells Fargo & Company lifted their price objective on Arista Networks from $150.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, September 12th. Eighteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.31.

Arista Networks 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.