Arista Networks, Inc. (NYSE:ANET) Position Trimmed by Retirement Systems of Alabama

Retirement Systems of Alabama lowered its position in shares of Arista Networks, Inc. (NYSE:ANET) by 2.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 55,536 shares of the technology company’s stock after selling 1,164 shares during the period. Retirement Systems of Alabama’s holdings in Arista Networks were worth $13,079,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Convergence Investment Partners LLC grew its position in shares of Arista Networks by 59.6% during the fourth quarter. Convergence Investment Partners LLC now owns 2,896 shares of the technology company’s stock worth $682,000 after acquiring an additional 1,081 shares during the last quarter. Bank OZK grew its position in shares of Arista Networks by 2.4% during the fourth quarter. Bank OZK now owns 7,671 shares of the technology company’s stock worth $1,807,000 after acquiring an additional 179 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Arista Networks by 6.0% during the fourth quarter. Russell Investments Group Ltd. now owns 94,442 shares of the technology company’s stock worth $22,276,000 after acquiring an additional 5,350 shares during the last quarter. Aubrey Capital Management Ltd grew its position in shares of Arista Networks by 12.4% during the fourth quarter. Aubrey Capital Management Ltd now owns 15,400 shares of the technology company’s stock worth $3,626,000 after acquiring an additional 1,700 shares during the last quarter. Finally, Dohj LLC acquired a new stake in Arista Networks in the fourth quarter worth about $392,000. Institutional investors own 82.47% of the company’s stock.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, insider John F. Mccool sold 420 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $266.08, for a total transaction of $111,753.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Arista Networks news, insider John F. Mccool sold 420 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $266.08, for a total transaction of $111,753.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Yvonne Wassenaar sold 224 shares of the 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 transaction, the director now owns 2,827 shares in the company, valued at approximately $721,704.83. The disclosure for this sale can be found here. Insiders have sold a total of 332,514 shares of company stock worth $95,369,397 over the last 90 days. Insiders own 18.99% of the company’s stock.

Arista Networks Price Performance

Shares of ANET opened at $255.24 on Thursday. The business’s 50-day moving average is $279.08 and its 200-day moving average is $248.62. Arista Networks, Inc. has a fifty-two week low of $131.68 and a fifty-two week high of $307.74. The company has a market capitalization of $80.05 billion, a price-to-earnings ratio of 38.85, a P/E/G ratio of 2.25 and a beta of 1.09.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the prior year, the company posted $1.25 earnings per share. The firm’s revenue was up 20.8% on a year-over-year basis. Equities research analysts expect that Arista Networks, Inc. will post 6.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. KeyCorp upped their price objective on shares of Arista Networks from $232.00 to $287.00 and gave the stock an “overweight” rating in a report on Thursday, January 18th. Barclays upped their price objective on shares of Arista Networks from $272.00 to $311.00 and gave the company an “overweight” rating in a research note on Tuesday, February 13th. JMP Securities reaffirmed a “market outperform” rating and set a $325.00 price objective on shares of Arista Networks in a research note on Tuesday, February 13th. Melius raised shares of Arista Networks from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. Finally, Melius Research raised shares of Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 price objective for the company in a research note on Monday, January 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Arista Networks currently has an average rating of “Moderate Buy” and a consensus price target of $275.59.

Arista Networks Company 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.