Virginia Retirement Systems ET AL Buys 22,500 Shares of Arista Networks Inc (ANET)

Virginia Retirement Systems ET AL increased its stake in shares of Arista Networks Inc (NYSE:ANET) by 51.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,100 shares of the technology company’s stock after buying an additional 22,500 shares during the quarter. Virginia Retirement Systems ET AL owned 0.09% of Arista Networks worth $17,573,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. OLD Mutual Customised Solutions Proprietary Ltd. bought a new position in Arista Networks in the 2nd quarter valued at $129,000. Signet Financial Management LLC bought a new position in Arista Networks in the 2nd quarter valued at $142,000. Bbva Compass Bancshares Inc. bought a new position in Arista Networks in the 3rd quarter valued at $157,000. NewSquare Capital LLC bought a new position in Arista Networks in the 2nd quarter valued at $181,000. Finally, Foundry Partners LLC purchased a new position in shares of Arista Networks during the 3rd quarter valued at $200,000. Institutional investors and hedge funds own 54.32% of the company’s stock.

In other Arista Networks news, SVP Kenneth Duda sold 11,000 shares of the firm’s stock in a transaction dated Wednesday, October 10th. The stock was sold at an average price of $229.24, for a total value of $2,521,640.00. Following the sale, the senior vice president now owns 2,664 shares of the company’s stock, valued at approximately $610,695.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Nikos Theodosopoulos sold 110 shares of the firm’s stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $273.27, for a total value of $30,059.70. Following the completion of the sale, the director now directly owns 2,073 shares in the company, valued at approximately $566,488.71. The disclosure for this sale can be found here. Insiders have sold a total of 214,820 shares of company stock worth $63,827,705 in the last three months. 24.95% of the stock is currently owned by insiders.

A number of brokerages have recently commented on ANET. MKM Partners upped their price target on Arista Networks to $275.00 and gave the company a “neutral” rating in a research report on Monday. Nomura upped their price target on Arista Networks from $250.00 to $260.00 and gave the company a “neutral” rating in a research report on Friday, November 2nd. Citigroup upped their price target on Arista Networks from $300.00 to $315.00 and gave the company a “buy” rating in a research report on Friday, November 2nd. Credit Suisse Group set a $315.00 price target on Arista Networks and gave the company a “buy” rating in a research report on Friday, November 2nd. Finally, JPMorgan Chase & Co. upped their price target on Arista Networks from $255.00 to $262.00 and gave the company a “hold” rating in a research report on Friday, November 2nd. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $291.83.

ANET traded up $3.89 during trading on Wednesday, reaching $249.00. 1,192 shares of the company were exchanged, compared to its average volume of 1,268,889. The stock has a market capitalization of $19.29 billion, a price-to-earnings ratio of 53.24, a price-to-earnings-growth ratio of 1.88 and a beta of 1.56. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.11 and a current ratio of 4.51. Arista Networks Inc has a 12-month low of $206.60 and a 12-month high of $313.37.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Thursday, November 1st. The technology company reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.21. The business had revenue of $563.31 million for the quarter, compared to analysts’ expectations of $548.81 million. Arista Networks had a return on equity of 29.06% and a net margin of 28.05%. The firm’s quarterly revenue was up 28.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.62 EPS. On average, research analysts forecast that Arista Networks Inc will post 6.48 earnings per share for the current fiscal year.

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Arista Networks Profile

Arista Networks, Inc provides cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of its extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms, including universal leaf, spline, and universal spine products.

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

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