Arista Networks, Inc. (NYSE:ANET) Shares Bought by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund boosted its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 302.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 88,596 shares of the technology company’s stock after buying an additional 66,559 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Arista Networks were worth $9,793,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ANET. Checchi Capital Advisers LLC lifted its stake in shares of Arista Networks by 313.1% in the 4th quarter. Checchi Capital Advisers LLC now owns 7,329 shares of the technology company’s stock valued at $810,000 after purchasing an additional 5,555 shares during the last quarter. Impact Investors Inc acquired a new position in shares of Arista Networks in the 4th quarter valued at $3,097,000. National Pension Service lifted its stake in shares of Arista Networks by 342.3% in the 4th quarter. National Pension Service now owns 2,720,596 shares of the technology company’s stock valued at $300,707,000 after purchasing an additional 2,105,495 shares during the last quarter. Advisor OS LLC lifted its stake in shares of Arista Networks by 311.8% in the 4th quarter. Advisor OS LLC now owns 4,427 shares of the technology company’s stock valued at $489,000 after purchasing an additional 3,352 shares during the last quarter. Finally, Cutter & CO Brokerage Inc. lifted its stake in shares of Arista Networks by 300.0% in the 4th quarter. Cutter & CO Brokerage Inc. now owns 4,316 shares of the technology company’s stock valued at $477,000 after purchasing an additional 3,237 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

ANET has been the topic of several recent analyst reports. Barclays upped their price target on Arista Networks from $125.00 to $126.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Rosenblatt Securities reissued a “sell” rating and set a $80.00 target price on shares of Arista Networks in a research note on Tuesday, February 18th. The Goldman Sachs Group increased their target price on Arista Networks from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Piper Sandler reissued a “neutral” rating and set a $108.00 target price (up previously from $106.00) on shares of Arista Networks in a research note on Wednesday, February 19th. Finally, Needham & Company LLC reissued a “buy” rating and set a $145.00 target price on shares of Arista Networks in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $113.79.

Arista Networks Price Performance

Shares of NYSE ANET opened at $96.43 on Thursday. The stock’s 50-day moving average is $112.54 and its two-hundred day moving average is $102.09. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.57. The company has a market cap of $121.61 billion, a price-to-earnings ratio of 43.44, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share 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 company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. Equities research analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insider Activity

In related news, insider John F. Mccool sold 17,433 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $93.14, for a total transaction of $1,623,709.62. Following the transaction, the insider now owns 17,433 shares in the company, valued at $1,623,709.62. This trade represents a 50.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $108.29, for a total value of $8,663,200.00. Following the transaction, the senior vice president now owns 12,976 shares in the company, valued at $1,405,171.04. This represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 416,008 shares of company stock worth $44,854,958. 3.54% of the stock is currently owned by insiders.

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.