New York State Teachers Retirement System Grows Position in Arista Networks, Inc. (NYSE:ANET)

New York State Teachers Retirement System boosted its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 288.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 887,449 shares of the technology company’s stock after purchasing an additional 659,042 shares during the period. New York State Teachers Retirement System’s holdings in Arista Networks were worth $98,090,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ANET. ORG Partners LLC lifted its position in shares of Arista Networks by 186.0% in the third quarter. ORG Partners LLC now owns 143 shares of the technology company’s stock valued at $55,000 after acquiring an additional 93 shares in the last quarter. Wesbanco Bank Inc. lifted its position in shares of Arista Networks by 10.0% in the third quarter. Wesbanco Bank Inc. now owns 1,102 shares of the technology company’s stock valued at $423,000 after acquiring an additional 100 shares in the last quarter. Creative Planning lifted its position in shares of Arista Networks by 13.1% in the third quarter. Creative Planning now owns 109,174 shares of the technology company’s stock valued at $41,903,000 after acquiring an additional 12,612 shares in the last quarter. Vontobel Holding Ltd. lifted its position in shares of Arista Networks by 11.4% in the third quarter. Vontobel Holding Ltd. now owns 57,455 shares of the technology company’s stock valued at $22,052,000 after acquiring an additional 5,901 shares in the last quarter. Finally, Wolff Wiese Magana LLC lifted its position in shares of Arista Networks by 1,862.8% in the third quarter. Wolff Wiese Magana LLC now owns 844 shares of the technology company’s stock valued at $324,000 after acquiring an additional 801 shares in the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Arista Networks Price Performance

Shares of NYSE:ANET opened at $109.75 on Friday. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.57. The business has a 50 day simple moving average of $113.91 and a two-hundred day simple moving average of $100.65. The firm has a market capitalization of $138.26 billion, a PE ratio of 52.77, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09.

Analyst Upgrades and Downgrades

ANET has been the topic of several research reports. Evercore ISI lifted their target price on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Piper Sandler reaffirmed a “neutral” rating and issued a $105.25 target price (up from $86.25) on shares of Arista Networks in a report on Friday, November 8th. Barclays reduced their target price on Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. StockNews.com cut Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Finally, The Goldman Sachs Group lifted their target price on Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $107.59.

Insider Buying and Selling at Arista Networks

In related news, insider John F. Mccool sold 6,340 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $98.58, for a total value of $625,013.05. Following the completion of the sale, the insider now owns 288 shares in the company, valued at approximately $28,391.76. The trade was a 95.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $412.65, for a total value of $825,300.00. Following the completion of the sale, the director now owns 42,946 shares of the company’s stock, valued at $17,721,666.90. The trade was a 4.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 335,832 shares of company stock worth $37,787,297 over the last 90 days. Company 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.