California State Teachers Retirement System Grows Holdings in Arista Networks, Inc. (NYSE:ANET)

California State Teachers Retirement System raised its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 290.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,667,061 shares of the technology company's stock after acquiring an additional 1,239,824 shares during the period. California State Teachers Retirement System owned about 0.13% of Arista Networks worth $184,260,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Caitlin John LLC boosted its holdings in shares of Arista Networks by 174.7% in the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company's stock valued at $26,000 after buying an additional 152 shares during the period. Capital Advisors Ltd. LLC boosted its stake in Arista Networks by 335.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock worth $27,000 after purchasing an additional 191 shares during the period. Cranbrook Wealth Management LLC increased its holdings in Arista Networks by 300.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company's stock worth $29,000 after purchasing an additional 198 shares in the last quarter. Trust Co. of Vermont raised its stake in shares of Arista Networks by 300.0% in the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company's stock valued at $29,000 after purchasing an additional 198 shares during the period. Finally, New Millennium Group LLC lifted its stake in Arista Networks by 300.0% in the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock valued at $29,000 after acquiring an additional 195 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ANET has been the subject of several analyst reports. Needham & Company LLC restated a "buy" rating and issued a $145.00 price objective on shares of Arista Networks in a report on Wednesday, February 19th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Arista Networks in a research report on Monday, March 3rd. Rosenblatt Securities raised Arista Networks from a "sell" rating to a "neutral" rating and upped their price objective for the company from $55.00 to $85.00 in a report on Tuesday. JPMorgan Chase & Co. reduced their target price on shares of Arista Networks from $140.00 to $110.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Finally, Evercore ISI lowered their price target on shares of Arista Networks from $130.00 to $100.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $108.36.

Arista Networks Stock Performance

Shares of Arista Networks stock traded up $5.59 on Thursday, hitting $87.86. The stock had a trading volume of 16,319,830 shares, compared to its average volume of 9,162,401. The stock has a 50 day moving average of $79.28 and a 200 day moving average of $97.90. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $133.58. The firm has a market capitalization of $110.31 billion, a P/E ratio of 39.57, a PEG ratio of 3.10 and a beta of 1.30.

Arista Networks (NYSE:ANET - Get Free Report) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. Equities analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Insider Transactions at Arista Networks

In related news, SVP Marc Taxay sold 51,848 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $88.59, for a total value of $4,593,214.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $112.02, for a total transaction of $896,160.00. Following the transaction, the director now owns 155,784 shares in the company, valued at approximately $17,450,923.68. The trade was a 4.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 412,355 shares of company stock worth $39,446,799. Company insiders own 3.54% of the company's stock.

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.