VIRGINIA RETIREMENT SYSTEMS ET Al Trims Holdings in Arista Networks, Inc. $ANET

VIRGINIA RETIREMENT SYSTEMS ET Al lessened its stake in Arista Networks, Inc. (NYSE:ANET) by 15.8% in the third quarter, Holdings Channel reports. The institutional investor owned 497,980 shares of the technology company’s stock after selling 93,192 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Arista Networks were worth $72,561,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Bare Financial Services Inc increased its position in shares of Arista Networks by 2,118.2% in the 2nd quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock worth $25,000 after purchasing an additional 233 shares during the last quarter. AdvisorNet Financial Inc lifted its position in shares of Arista Networks by 56.7% during the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after purchasing an additional 72 shares during the last quarter. REAP Financial Group LLC grew its stake in Arista Networks by 108.0% in the second quarter. REAP Financial Group LLC now owns 337 shares of the technology company’s stock worth $34,000 after purchasing an additional 175 shares in the last quarter. eCIO Inc. bought a new stake in Arista Networks in the first quarter valued at about $36,000. Finally, Solstein Capital LLC increased its holdings in Arista Networks by 493.8% in the second quarter. Solstein Capital LLC now owns 380 shares of the technology company’s stock valued at $39,000 after buying an additional 316 shares during the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ANET shares. Wolfe Research lifted their target price on Arista Networks from $160.00 to $185.00 and gave the stock an “outperform” rating in a research report on Friday, September 12th. BNP Paribas raised shares of Arista Networks from a “hold” rating to an “outperform” rating in a report on Thursday, September 25th. Erste Group Bank downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Monday, November 10th. The Goldman Sachs Group increased their target price on shares of Arista Networks from $155.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Finally, Needham & Company LLC raised their price target on shares of Arista Networks from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, September 16th. Seventeen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $163.56.

Arista Networks Trading Down 1.3%

Shares of NYSE:ANET opened at $132.42 on Wednesday. The firm’s 50 day moving average is $134.49 and its two-hundred day moving average is $129.99. The firm has a market capitalization of $166.75 billion, a P/E ratio of 50.35, a PEG ratio of 2.57 and a beta of 1.41. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $164.94.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.The business had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same period in the prior year, the company posted $2.40 EPS. The business’s revenue for the quarter was up 27.5% compared to the same quarter last year. Analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insiders Place Their Bets

In other Arista Networks news, insider Kenneth Duda sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $123.16, for a total transaction of $3,694,800.00. Following the transaction, the insider owned 12,976 shares of the company’s stock, valued at approximately $1,598,124.16. This trade represents a 69.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kelly Bodnar Battles sold 422 shares of the business’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $117.15, for a total transaction of $49,437.30. Following the sale, the director owned 8,980 shares in the company, valued at $1,052,007. This trade represents a 4.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 208,464 shares of company stock worth $27,418,668. 3.54% of the stock is owned by company insiders.

About Arista Networks

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.