New York State Teachers Retirement System Grows Stake in Arista Networks, Inc. (NYSE:ANET)

New York State Teachers Retirement System grew its holdings in Arista Networks, Inc. (NYSE:ANET) by 288.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 887,449 shares of the technology company’s stock after buying an additional 659,042 shares during the quarter. New York State Teachers Retirement System owned approximately 0.07% of Arista Networks worth $98,090,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ANET. Stock Yards Bank & Trust Co. bought a new position in shares of Arista Networks in the 4th quarter worth approximately $242,000. Silver Oak Securities Incorporated raised its position in shares of Arista Networks by 395.8% in the 4th quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company’s stock worth $2,072,000 after acquiring an additional 14,843 shares in the last quarter. CENTRAL TRUST Co raised its position in shares of Arista Networks by 475.5% in the 4th quarter. CENTRAL TRUST Co now owns 4,184 shares of the technology company’s stock worth $462,000 after acquiring an additional 3,457 shares in the last quarter. Triasima Portfolio Management inc. raised its position in shares of Arista Networks by 371.3% in the 4th quarter. Triasima Portfolio Management inc. now owns 78,487 shares of the technology company’s stock worth $8,675,000 after acquiring an additional 61,833 shares in the last quarter. Finally, GW Henssler & Associates Ltd. raised its position in shares of Arista Networks by 3.6% in the 3rd quarter. GW Henssler & Associates Ltd. now owns 63,244 shares of the technology company’s stock worth $24,274,000 after acquiring an additional 2,219 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on ANET shares. Barclays reduced their price objective on Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. Evercore ISI raised their price objective on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Rosenblatt Securities raised their price objective on Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a research report on Friday, November 8th. Finally, The Goldman Sachs Group raised their price objective on Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $107.59.

Arista Networks Price Performance

ANET stock opened at $109.75 on Friday. The company has a market cap of $138.26 billion, a P/E ratio of 52.77, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.57. The stock’s fifty day moving average price is $113.91 and its 200-day moving average price is $100.65.

Insider Transactions at Arista Networks

In other news, insider John F. Mccool sold 6,340 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $98.58, for a total value of $625,013.05. Following the transaction, the insider now directly owns 288 shares in the company, valued at $28,391.76. This trade represents a 95.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $115.61, for a total value of $9,248,800.00. Following the transaction, the senior vice president now owns 12,976 shares in the company, valued at $1,500,155.36. This trade represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 335,832 shares of company stock worth $37,787,297 in the last ninety days. Insiders own 3.54% 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.