New York State Teachers Retirement System Cuts Stock Holdings in Arista Networks, Inc. $ANET

New York State Teachers Retirement System cut its stake in Arista Networks, Inc. (NYSE:ANET) by 0.8% in the second quarter, HoldingsChannel reports. The firm owned 840,770 shares of the technology company’s stock after selling 6,812 shares during the quarter. New York State Teachers Retirement System’s holdings in Arista Networks were worth $86,019,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Nuveen LLC acquired a new position in shares of Arista Networks during the first quarter worth about $933,626,000. AQR Capital Management LLC raised its holdings in Arista Networks by 153.8% in the first quarter. AQR Capital Management LLC now owns 7,719,809 shares of the technology company’s stock valued at $584,119,000 after acquiring an additional 4,678,372 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Arista Networks by 37.3% in the first quarter. Goldman Sachs Group Inc. now owns 9,552,484 shares of the technology company’s stock worth $740,126,000 after acquiring an additional 2,594,184 shares during the last quarter. Amundi lifted its stake in Arista Networks by 35.3% in the first quarter. Amundi now owns 8,582,109 shares of the technology company’s stock worth $611,852,000 after acquiring an additional 2,240,045 shares during the last quarter. Finally, Alliancebernstein L.P. grew its holdings in Arista Networks by 9.0% during the 1st quarter. Alliancebernstein L.P. now owns 22,959,214 shares of the technology company’s stock worth $1,778,880,000 after acquiring an additional 1,889,198 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Transactions at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 1,785,165 shares of the company’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $136.22, for a total value of $243,175,176.30. Following the completion of the transaction, the chief executive officer owned 5,698,074 shares in the company, valued at $776,191,640.28. This represents a 23.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 6,622,904 shares of company stock valued at $887,794,521 in the last three months. Corporate insiders own 3.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ANET. Citigroup raised their price objective on shares of Arista Networks from $136.00 to $176.00 and gave the company a “buy” rating in a report on Friday, September 12th. Piper Sandler increased their target price on Arista Networks from $89.00 to $143.00 and gave the company a “neutral” rating in a report on Wednesday, August 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Arista Networks in a report on Tuesday. Wolfe Research upped their price objective on Arista Networks from $160.00 to $185.00 and gave the stock an “outperform” rating in a research report on Friday, September 12th. Finally, Zacks Research lowered shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Nineteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $163.94.

Arista Networks Price Performance

NYSE ANET opened at $143.46 on Thursday. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $162.68. The company has a market capitalization of $180.31 billion, a PE ratio of 56.43, a P/E/G ratio of 2.89 and a beta of 1.47. The company has a fifty day moving average of $141.90 and a two-hundred day moving average of $110.02.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, August 5th. The technology company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.08. Arista Networks had a net margin of 40.90% and a return on equity of 31.05%. The company had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter in the prior year, the firm posted $0.53 earnings per share. Arista Networks’s revenue for the quarter was up 30.4% on a year-over-year basis. Arista Networks has set its Q3 2025 guidance at EPS. On average, research analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Arista Networks 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.