Strs Ohio Decreases Stake in Arista Networks, Inc. (NYSE:ANET)

Strs Ohio lessened its stake in Arista Networks, Inc. (NYSE:ANET) by 3.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 95,699 shares of the technology company’s stock after selling 3,604 shares during the quarter. Strs Ohio’s holdings in Arista Networks were worth $22,538,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Larson Financial Group LLC purchased a new stake in Arista Networks during the third quarter worth approximately $28,000. First Command Advisory Services Inc. purchased a new stake in Arista Networks during the third quarter worth approximately $29,000. Hollencrest Capital Management purchased a new stake in Arista Networks during the first quarter worth approximately $30,000. BluePath Capital Management LLC purchased a new stake in Arista Networks during the third quarter worth approximately $33,000. Finally, NBC Securities Inc. purchased a new stake in Arista Networks during the third quarter worth approximately $33,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ANET shares. The Goldman Sachs Group boosted their target price on Arista Networks from $313.00 to $356.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. KeyCorp boosted their price objective on Arista Networks from $232.00 to $287.00 and gave the company an “overweight” rating in a research note on Thursday, January 18th. Melius upgraded Arista Networks from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. Evercore ISI reiterated an “outperform” rating and issued a $300.00 price objective on shares of Arista Networks in a research note on Wednesday, March 27th. Finally, Barclays boosted their price objective on Arista Networks from $272.00 to $311.00 and gave the company an “overweight” rating in a research note on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Arista Networks has a consensus rating of “Moderate Buy” and an average price target of $275.59.

Arista Networks Stock Performance

Arista Networks stock opened at $263.20 on Tuesday. The firm has a market capitalization of $82.28 billion, a price-to-earnings ratio of 40.06, a price-to-earnings-growth ratio of 2.34 and a beta of 1.09. Arista Networks, Inc. has a fifty-two week low of $131.68 and a fifty-two week high of $307.74. The stock’s fifty day moving average is $281.58 and its two-hundred day moving average is $243.39.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.38. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The business’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.25 earnings per share. As a group, sell-side analysts forecast that Arista Networks, Inc. will post 6.63 EPS for the current fiscal year.

Insider Activity at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 87,418 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $278.81, for a total value of $24,373,012.58. Following the sale, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at approximately $4,929,639.61. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Arista Networks news, CEO Jayshree Ullal sold 87,418 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $278.81, for a total value of $24,373,012.58. Following the sale, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at approximately $4,929,639.61. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $290.05, for a total value of $5,801,000.00. Following the completion of the sale, the senior vice president now directly owns 3,244 shares in the company, valued at $940,922.20. The disclosure for this sale can be found here. Insiders have sold a total of 361,036 shares of company stock valued at $102,813,921 over the last quarter. Insiders own 18.99% of the company’s stock.

About Arista Networks

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.