Maryland State Retirement & Pension System Boosts Stake in Arista Networks, Inc. (NYSE:ANET)

Maryland State Retirement & Pension System boosted its stake in Arista Networks, Inc. (NYSE:ANET) by 1.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,516 shares of the technology company’s stock after buying an additional 366 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Arista Networks were worth $4,596,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ANET. Vanguard Group Inc. increased its holdings in shares of Arista Networks by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 27,898,836 shares of the technology company’s stock worth $5,131,433,000 after buying an additional 84,212 shares during the last quarter. FMR LLC boosted its position in Arista Networks by 32.2% in the 3rd quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock valued at $1,897,906,000 after buying an additional 2,515,864 shares during the period. WCM Investment Management LLC boosted its position in Arista Networks by 0.5% in the 4th quarter. WCM Investment Management LLC now owns 3,024,220 shares of the technology company’s stock valued at $716,649,000 after buying an additional 16,081 shares during the period. Northern Trust Corp boosted its position in Arista Networks by 5.0% in the 3rd quarter. Northern Trust Corp now owns 2,403,738 shares of the technology company’s stock valued at $442,120,000 after buying an additional 114,978 shares during the period. Finally, Jennison Associates LLC boosted its position in Arista Networks by 0.8% in the 4th quarter. Jennison Associates LLC now owns 1,807,494 shares of the technology company’s stock valued at $425,683,000 after buying an additional 14,627 shares during the period. 82.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on ANET. JPMorgan Chase & Co. raised their price target on shares of Arista Networks from $297.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Evercore ISI restated an “outperform” rating and issued a $300.00 price objective on shares of Arista Networks in a research note on Wednesday, March 27th. Oppenheimer reiterated a “market perform” rating on shares of Arista Networks in a research note on Tuesday, February 13th. Barclays boosted their price target on shares of Arista Networks from $272.00 to $311.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 13th. Finally, JMP Securities reiterated a “market outperform” rating and set a $325.00 price target on shares of Arista Networks in a research note on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $285.53.

Arista Networks Stock Down 1.1 %

Shares of ANET traded down $3.05 on Tuesday, hitting $275.77. 2,505,652 shares of the stock traded hands, compared to its average volume of 2,448,077. The firm has a market capitalization of $86.21 billion, a P/E ratio of 41.84, a P/E/G ratio of 2.33 and a beta of 1.13. The stock’s 50 day moving average is $279.18 and its two-hundred day moving average is $250.63. Arista Networks, Inc. has a 1 year low of $133.42 and a 1 year high of $307.74.

Arista Networks (NYSE:ANET) last posted its earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.38. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the previous year, the business posted $1.25 EPS. The business’s quarterly revenue was up 20.8% on a year-over-year basis. Research analysts forecast that Arista Networks, Inc. will post 6.74 EPS for the current year.

Insider Transactions at Arista Networks

In related news, insider John F. Mccool sold 420 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $266.08, for a total transaction of $111,753.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider John F. Mccool sold 420 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $266.08, for a total value of $111,753.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Yvonne Wassenaar sold 224 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total value of $57,184.96. Following the completion of the sale, the director now owns 2,827 shares in the company, valued at $721,704.83. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 337,474 shares of company stock valued at $96,640,840. 3.54% of the stock is currently owned by insiders.

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.