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

Public Employees Retirement Association of Colorado grew its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 288.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 144,032 shares of the technology company's stock after acquiring an additional 106,995 shares during the period. Public Employees Retirement Association of Colorado's holdings in Arista Networks were worth $15,920,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. Stock Yards Bank & Trust Co. purchased a new position in Arista Networks in the 4th quarter worth approximately $242,000. GHE LLC increased its position in shares of Arista Networks by 319.0% during the fourth quarter. GHE LLC now owns 28,368 shares of the technology company's stock worth $3,136,000 after acquiring an additional 21,597 shares during the period. Colonial River Investments LLC grew its stake in shares of Arista Networks by 327.6% during the fourth quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company's stock worth $1,077,000 after purchasing an additional 7,466 shares in the last quarter. Unified Investment Management acquired a new position in shares of Arista Networks during the fourth quarter worth $630,000. Finally, Berkshire Capital Holdings Inc. grew its holdings in shares of Arista Networks by 257.6% during the fourth quarter. Berkshire Capital Holdings Inc. now owns 76,950 shares of the technology company's stock worth $8,505,000 after purchasing an additional 55,430 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ANET has been the topic of several research reports. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Arista Networks in a report on Monday, March 3rd. Piper Sandler decreased their price target on Arista Networks from $108.00 to $76.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Rosenblatt Securities upgraded Arista Networks from a "sell" rating to a "neutral" rating and lifted their price target for the company from $55.00 to $85.00 in a research note on Tuesday. Morgan Stanley lifted their price target on Arista Networks from $73.00 to $100.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, Erste Group Bank downgraded Arista Networks from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 17th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Arista Networks presently has an average rating of "Moderate Buy" and a consensus target price of $108.36.

Arista Networks Stock Up 6.8 %

Shares of NYSE ANET traded up $5.59 during trading on Thursday, reaching $87.86. 16,319,830 shares of the stock were exchanged, compared to its average volume of 9,162,401. The business's 50-day moving average price is $79.28 and its 200 day moving average price is $97.90. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $133.58. The company has a market capitalization of $110.31 billion, a price-to-earnings ratio of 39.57, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30.

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

Insider Activity at Arista Networks

In other news, Director Charles H. Giancarlo sold 8,000 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $112.02, for a total transaction of $896,160.00. Following the completion of the transaction, the director now owns 155,784 shares in the company, valued at approximately $17,450,923.68. This represents a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Marc Taxay sold 51,848 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $88.59, for a total transaction of $4,593,214.32. The disclosure for this sale can be found here. Insiders have sold 412,355 shares of company stock valued at $39,446,799 over the last ninety days. Corporate insiders own 3.54% of the company's stock.

Arista Networks 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.