Teachers Advisors LLC Has $6.47 Million Position in Arista Networks, Inc. (ANET)

Teachers Advisors LLC lowered its position in Arista Networks, Inc. (NYSE:ANET) by 23.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 48,918 shares of the technology company’s stock after selling 14,900 shares during the period. Teachers Advisors LLC’s holdings in Arista Networks were worth $6,470,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ANET. FMR LLC increased its stake in Arista Networks by 32.2% in the first quarter. FMR LLC now owns 3,288,755 shares of the technology company’s stock valued at $435,004,000 after buying an additional 800,465 shares during the last quarter. William Blair Investment Management LLC increased its stake in Arista Networks by 9.1% in the first quarter. William Blair Investment Management LLC now owns 1,136,817 shares of the technology company’s stock valued at $150,367,000 after buying an additional 94,484 shares during the last quarter. Columbus Circle Investors bought a new stake in Arista Networks during the first quarter valued at $42,580,000. Bank of New York Mellon Corp increased its stake in Arista Networks by 45.6% in the first quarter. Bank of New York Mellon Corp now owns 207,912 shares of the technology company’s stock valued at $27,501,000 after buying an additional 65,120 shares during the last quarter. Finally, State of Wisconsin Investment Board increased its stake in Arista Networks by 554.6% in the first quarter. State of Wisconsin Investment Board now owns 139,299 shares of the technology company’s stock valued at $18,425,000 after buying an additional 118,019 shares during the last quarter. Hedge funds and other institutional investors own 60.83% of the company’s stock.

Arista Networks, Inc. (NYSE ANET) opened at 172.01 on Friday. The stock has a market cap of $12.48 billion, a price-to-earnings ratio of 44.39 and a beta of 1.33. The company has a 50-day moving average price of $157.54 and a 200 day moving average price of $139.45. Arista Networks, Inc. has a 52-week low of $76.01 and a 52-week high of $176.50.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Thursday, August 3rd. The technology company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.15. Arista Networks had a net margin of 21.74% and a return on equity of 22.64%. The company had revenue of $405.21 million during the quarter, compared to analysts’ expectations of $361.02 million. During the same quarter in the prior year, the company earned $0.74 EPS. Arista Networks’s revenue was up 50.8% compared to the same quarter last year. On average, analysts expect that Arista Networks, Inc. will post $4.69 earnings per share for the current year.

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Several brokerages have commented on ANET. BMO Capital Markets reiterated an “outperform” rating and set a $190.00 target price (up from $167.00) on shares of Arista Networks in a research note on Friday, August 4th. J P Morgan Chase & Co upgraded Arista Networks from a “neutral” rating to an “overweight” rating and increased their target price for the company from $144.00 to $186.00 in a research note on Friday, August 4th. Argus reissued a “buy” rating on shares of Arista Networks in a report on Monday, August 7th. DA Davidson cut Arista Networks from a “buy” rating to a “neutral” rating and set a $153.00 price target on the stock. in a report on Monday, May 22nd. Finally, Oppenheimer Holdings, Inc. set a $160.00 price target on Arista Networks and gave the company a “buy” rating in a report on Thursday, May 4th. Sixteen research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Arista Networks currently has a consensus rating of “Buy” and an average price target of $154.40.

In other news, Director Daniel Scheinman sold 833 shares of the stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $151.68, for a total value of $126,349.44. Following the completion of the sale, the director now owns 52,500 shares of the company’s stock, valued at approximately $7,963,200. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Marc Taxay sold 2,000 shares of the stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $147.51, for a total transaction of $295,020.00. Following the completion of the sale, the senior vice president now directly owns 11,775 shares of the company’s stock, valued at approximately $1,736,930.25. The disclosure for this sale can be found here. In the last three months, insiders sold 739,882 shares of company stock valued at $121,473,046. Corporate insiders own 28.09% of the company’s stock.

Arista Networks Company Profile

Arista Networks, Inc is a supplier of cloud networking solutions that use software innovations to address the needs of Internet companies, cloud service providers and data centers for enterprise support. It develops, markets and sells cloud networking solutions, which consist of its Gigabit Ethernet switches and related software.

Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

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