Teacher Retirement System of Texas Has $57.58 Million Stock Holdings in Arista Networks, Inc. $ANET

Teacher Retirement System of Texas lowered its position in shares of Arista Networks, Inc. (NYSE:ANET) by 41.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 395,148 shares of the technology company’s stock after selling 275,222 shares during the quarter. Teacher Retirement System of Texas’ holdings in Arista Networks were worth $57,577,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Walkner Condon Financial Advisors LLC grew its stake in Arista Networks by 0.4% during the third quarter. Walkner Condon Financial Advisors LLC now owns 18,509 shares of the technology company’s stock worth $2,697,000 after buying an additional 70 shares during the last quarter. AdvisorNet Financial Inc boosted its holdings in shares of Arista Networks by 56.7% in the 3rd quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after acquiring an additional 72 shares in the last quarter. Crown Wealth Group LLC boosted its holdings in shares of Arista Networks by 2.4% in the 3rd quarter. Crown Wealth Group LLC now owns 3,175 shares of the technology company’s stock worth $463,000 after acquiring an additional 75 shares in the last quarter. Fragasso Financial Advisors Inc grew its holdings in shares of Arista Networks by 1.8% during the third quarter. Fragasso Financial Advisors Inc now owns 4,237 shares of the technology company’s stock worth $616,000 after purchasing an additional 76 shares during the last quarter. Finally, Stablepoint Partners LLC increased its stake in shares of Arista Networks by 0.8% in the second quarter. Stablepoint Partners LLC now owns 9,406 shares of the technology company’s stock valued at $962,000 after buying an additional 77 shares in the last quarter. 82.47% of the stock is owned by institutional investors.

Insider Transactions at Arista Networks

In other news, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $133.79, for a total value of $1,070,320.00. Following the completion of the transaction, the director owned 17,784 shares of the company’s stock, valued at $2,379,321.36. The trade was a 31.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kenneth Duda sold 30,000 shares of the company’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $128.61, for a total transaction of $3,858,300.00. Following the completion of the sale, the insider owned 12,976 shares of the company’s stock, valued at approximately $1,668,843.36. This represents a 69.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 216,464 shares of company stock valued at $27,687,068 over the last three months. 3.39% of the stock is currently owned by corporate insiders.

Arista Networks Price Performance

Shares of ANET stock opened at $138.41 on Friday. The stock has a market cap of $174.30 billion, a PE ratio of 52.63, a price-to-earnings-growth ratio of 2.14 and a beta of 1.41. The stock has a 50-day moving average of $128.52 and a 200-day moving average of $133.47. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $164.94.

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

Analysts Set New Price Targets

A number of research firms recently issued reports on ANET. Erste Group Bank cut Arista Networks from a “buy” rating to a “hold” rating in a report on Monday, November 10th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $140.00 target price on shares of Arista Networks in a research note on Monday, November 24th. Morgan Stanley reduced their price objective on Arista Networks from $171.00 to $159.00 and set an “overweight” rating on the stock in a report on Wednesday, December 17th. Barclays reaffirmed an “overweight” rating and issued a $183.00 target price (up previously from $179.00) on shares of Arista Networks in a research note on Wednesday, November 5th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Arista Networks in a report on Monday, December 29th. Seventeen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $164.44.

Arista Networks Profile

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.