Arista Networks, Inc. (NYSE:ANET) Stock Position Raised by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado raised its position in shares of Arista Networks, Inc. (NYSE:ANET) by 1.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,413 shares of the technology company’s stock after purchasing an additional 580 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Arista Networks were worth $6,711,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. RFP Financial Group LLC raised its stake in shares of Arista Networks by 169.2% in the 2nd quarter. RFP Financial Group LLC now owns 175 shares of the technology company’s stock valued at $28,000 after acquiring an additional 110 shares in the last quarter. Hollencrest Capital Management bought a new position in shares of Arista Networks in the 1st quarter valued at approximately $30,000. TFC Financial Management Inc. raised its stake in shares of Arista Networks by 131.0% in the 1st quarter. TFC Financial Management Inc. now owns 194 shares of the technology company’s stock valued at $33,000 after acquiring an additional 110 shares in the last quarter. McIlrath & Eck LLC raised its stake in shares of Arista Networks by 139.6% in the 1st quarter. McIlrath & Eck LLC now owns 254 shares of the technology company’s stock valued at $43,000 after acquiring an additional 148 shares in the last quarter. Finally, Coppell Advisory Solutions Corp. bought a new position in shares of Arista Networks in the 4th quarter valued at approximately $43,000. 67.13% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Price Performance

Arista Networks stock opened at $215.24 on Wednesday. The company has a market capitalization of $66.96 billion, a PE ratio of 35.87, a price-to-earnings-growth ratio of 1.76 and a beta of 1.12. Arista Networks, Inc. has a one year low of $107.57 and a one year high of $216.89. The business has a 50 day simple moving average of $192.46 and a 200 day simple moving average of $174.09.

Insider Buying and Selling

In related news, Director Kelly Bodnar Battles sold 284 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $212.36, for a total transaction of $60,310.24. Following the completion of the transaction, the director now owns 2,459 shares in the company, valued at approximately $522,193.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Arista Networks news, CEO Jayshree Ullal sold 16,000 shares of Arista Networks stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $187.11, for a total value of $2,993,760.00. Following the completion of the transaction, the chief executive officer now owns 1,744,200 shares in the company, valued at approximately $326,357,262. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kelly Bodnar Battles sold 284 shares of Arista Networks stock in a transaction on Monday, November 6th. The shares were sold at an average price of $212.36, for a total value of $60,310.24. Following the completion of the transaction, the director now owns 2,459 shares of the company’s stock, valued at approximately $522,193.24. The disclosure for this sale can be found here. Insiders sold 157,264 shares of company stock worth $31,208,692 in the last 90 days. 18.99% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on ANET shares. The Goldman Sachs Group raised their price objective on Arista Networks from $223.00 to $248.00 and gave the company a “buy” rating in a research note on Friday, November 10th. Morgan Stanley raised Arista Networks from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $185.00 to $220.00 in a report on Tuesday, October 31st. JMP Securities raised their target price on Arista Networks from $200.00 to $215.00 and gave the company a “market outperform” rating in a report on Tuesday, October 31st. BNP Paribas initiated coverage on Arista Networks in a report on Thursday, July 20th. They issued an “outperform” rating and a $210.00 target price on the stock. Finally, Needham & Company LLC raised their target price on Arista Networks from $215.00 to $235.00 and gave the company a “buy” rating in a report on Friday, November 10th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $214.72.

Arista Networks Profile

Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms.