Oregon Public Employees Retirement Fund Has $17.16 Million Stock Position in Arista Networks, Inc. $ANET

Oregon Public Employees Retirement Fund lifted its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 32.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,788 shares of the technology company’s stock after purchasing an additional 28,742 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Arista Networks were worth $17,163,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. AdvisorNet Financial Inc raised its stake in Arista Networks by 56.7% during the 3rd quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after buying an additional 72 shares during the period. Crown Wealth Group LLC increased its holdings in shares of Arista Networks by 2.4% during the third quarter. Crown Wealth Group LLC now owns 3,175 shares of the technology company’s stock valued at $463,000 after acquiring an additional 75 shares in the last quarter. Fragasso Financial Advisors Inc raised its position 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 period. Stablepoint Partners LLC raised its position in shares of Arista Networks by 0.8% during the second quarter. Stablepoint Partners LLC now owns 9,406 shares of the technology company’s stock worth $962,000 after purchasing an additional 77 shares during the period. Finally, Pure Financial Advisors LLC lifted its holdings in shares of Arista Networks by 1.9% in the 3rd quarter. Pure Financial Advisors LLC now owns 4,333 shares of the technology company’s stock worth $631,000 after purchasing an additional 82 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Wolfe Research boosted their price target on shares of Arista Networks from $160.00 to $185.00 and gave the company an “outperform” rating in a research note on Friday, September 12th. The Goldman Sachs Group lifted their price objective on shares of Arista Networks from $155.00 to $175.00 and gave the company a “buy” rating in a report on Friday, September 12th. BNP Paribas raised shares of Arista Networks from a “hold” rating to an “outperform” rating in a research report on Thursday, September 25th. Piper Sandler raised shares of Arista Networks from a “neutral” rating to an “overweight” rating and raised their price target for the company from $145.00 to $159.00 in a research report on Monday. Finally, Citigroup boosted their price objective on Arista Networks from $136.00 to $176.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Eighteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.44.

Arista Networks Stock Performance

Arista Networks stock opened at $123.77 on Friday. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $164.94. The firm’s 50-day simple moving average is $131.12 and its 200 day simple moving average is $131.44. The stock has a market cap of $155.86 billion, a PE ratio of 47.06, a price-to-earnings-growth ratio of 2.19 and a beta of 1.41.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, November 4th. The technology company reported $0.75 EPS 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 firm had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same quarter last year, the firm earned $2.40 EPS. The company’s quarterly revenue was up 27.5% compared to the same quarter last year. As a group, analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other Arista Networks news, CEO Jayshree Ullal sold 24,042 shares of the business’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $124.55, for a total value 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. The trade was a 70.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the company’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. This trade represents a 31.03% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 216,464 shares of company stock valued at $28,488,988. 3.39% of the stock is owned by insiders.

Arista Networks Company 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.