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

Teacher Retirement System of Texas trimmed its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 41.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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.

Other institutional investors also recently bought and sold shares of the company. ERn Financial LLC increased its holdings in shares of Arista Networks by 3.3% during the 3rd quarter. ERn Financial LLC now owns 4,697 shares of the technology company’s stock valued at $684,000 after acquiring an additional 150 shares during the last quarter. Northstar Asset Management Inc. lifted its holdings in Arista Networks by 2.4% in the 3rd quarter. Northstar Asset Management Inc. now owns 23,381 shares of the technology company’s stock worth $3,407,000 after purchasing an additional 541 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in Arista Networks by 2.9% during the third quarter. Parkside Financial Bank & Trust now owns 2,731 shares of the technology company’s stock worth $398,000 after purchasing an additional 77 shares during the period. iA Global Asset Management Inc. grew its holdings in Arista Networks by 142.4% during the third quarter. iA Global Asset Management Inc. now owns 26,405 shares of the technology company’s stock valued at $3,847,000 after purchasing an additional 15,510 shares during the last quarter. Finally, Leelyn Smith LLC grew its stake in Arista Networks by 4.5% in the 3rd quarter. Leelyn Smith LLC now owns 27,354 shares of the technology company’s stock valued at $3,986,000 after buying an additional 1,172 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Stock Up 8.7%

Arista Networks stock opened at $138.41 on Friday. The business has a 50 day moving average price of $128.52 and a two-hundred day moving average price of $133.47. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $164.94. The stock has a market cap of $174.30 billion, a price-to-earnings ratio of 52.63, a price-to-earnings-growth ratio of 2.14 and a beta of 1.41.

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

Insider Buying and Selling at Arista Networks

In related news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction dated 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. This represents a 31.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jayshree Ullal sold 24,042 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $124.55, for a total transaction of $2,994,431.10. Following the transaction, the chief executive officer owned 9,917 shares of the company’s stock, valued at approximately $1,235,162.35. This represents a 70.80% 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 in the last 90 days. Insiders own 3.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ANET shares. Erste Group Bank lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Monday, November 10th. UBS Group reiterated a “buy” rating and issued a $155.00 price objective on shares of Arista Networks in a research note on Wednesday, December 3rd. Weiss Ratings restated a “hold (c+)” rating on shares of Arista Networks in a research note on Monday, December 29th. BNP Paribas Exane raised Arista Networks from a “hold” rating to an “outperform” rating in a research report on Thursday, September 25th. Finally, Zacks Research lowered Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Seventeen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Arista Networks presently has a consensus rating of “Moderate Buy” and an average target price 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.