New York State Teachers Retirement System Cuts Stock Holdings in Arista Networks, Inc. $ANET

Key Points

• The New York State Teachers Retirement System decreased its holdings in Arista Networks by 0.8%, now owning 840,770 shares worth $86 million after selling 6,812 shares in the second quarter.
• Arista Networks reported impressive quarterly earnings, with an EPS of $0.73 exceeding estimates, and revenue of $2.20 billion, up 30.4% year-over-year.
• Several analysts have raised their price targets for Arista Networks, with Citigroup increasing it from $136 to $176 and Barclays from $151 to $179, reflecting strong market confidence.

New York State Teachers Retirement System reduced its position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 0.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 840,770 shares of the technology company's stock after selling 6,812 shares during the period. New York State Teachers Retirement System owned 0.07% of Arista Networks worth $86,019,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of ANET. REAP Financial Group LLC grew its position in shares of Arista Networks by 108.0% in the second quarter. REAP Financial Group LLC now owns 337 shares of the technology company's stock valued at $34,000 after purchasing an additional 175 shares in the last quarter. HighMark Wealth Management LLC grew its position in shares of Arista Networks by 179.7% in the first quarter. HighMark Wealth Management LLC now owns 358 shares of the technology company's stock valued at $28,000 after purchasing an additional 230 shares in the last quarter. Cloud Capital Management LLC purchased a new stake in shares of Arista Networks in the first quarter valued at approximately $30,000. Saudi Central Bank purchased a new stake in shares of Arista Networks in the first quarter valued at approximately $33,000. Finally, Costello Asset Management INC grew its position in shares of Arista Networks by 51.3% in the first quarter. Costello Asset Management INC now owns 454 shares of the technology company's stock valued at $35,000 after purchasing an additional 154 shares in the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Arista Networks Stock Performance

ANET opened at $143.46 on Thursday. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $162.68. The stock has a market capitalization of $180.31 billion, a PE ratio of 56.43, a P/E/G ratio of 2.89 and a beta of 1.47. The business's 50 day moving average price is $141.90 and its 200 day moving average price is $110.02.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The technology company reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.08. Arista Networks had a return on equity of 31.05% and a net margin of 40.90%.The company had revenue of $2.20 billion for the quarter, compared to analysts' expectations of $2.11 billion. During the same period in the prior year, the firm earned $0.53 earnings per share. The firm's revenue was up 30.4% compared to the same quarter last year. Arista Networks has set its Q3 2025 guidance at EPS. As a group, equities research analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ANET has been the subject of a number of analyst reports. Citigroup upped their price target on Arista Networks from $136.00 to $176.00 and gave the company a "buy" rating in a research report on Friday, September 12th. Barclays upped their price target on Arista Networks from $151.00 to $179.00 and gave the company an "overweight" rating in a research report on Friday, September 12th. Needham & Company LLC upped their price target on Arista Networks from $155.00 to $160.00 and gave the company a "buy" rating in a research report on Tuesday, September 16th. Piper Sandler upped their price target on Arista Networks from $89.00 to $143.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Finally, Wolfe Research upped their price target on Arista Networks from $160.00 to $185.00 and gave the company an "outperform" rating in a research report on Friday, September 12th. Nineteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $163.94.

Insider Buying and Selling

In other Arista Networks news, CEO Jayshree Ullal sold 1,785,165 shares of Arista Networks stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $136.22, for a total value of $243,175,176.30. Following the completion of the transaction, the chief executive officer directly owned 5,698,074 shares of the company's stock, valued at $776,191,640.28. The trade was a 23.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders sold 6,622,904 shares of company stock worth $887,794,521. Company insiders own 3.39% 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.

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