New Mexico Educational Retirement Board Buys 1,000 Shares of Arista Networks, Inc. (NYSE:ANET)

New Mexico Educational Retirement Board grew its stake in shares of Arista Networks, Inc. (NYSE:ANETFree Report) by 8.3% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 13,000 shares of the technology company’s stock after acquiring an additional 1,000 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Arista Networks were worth $2,391,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Sheets Smith Wealth Management acquired a new position in shares of Arista Networks during the 1st quarter worth $304,000. RFP Financial Group LLC raised its holdings in shares of Arista Networks by 169.2% during the 2nd quarter. RFP Financial Group LLC now owns 175 shares of the technology company’s stock worth $28,000 after buying an additional 110 shares in the last quarter. Hollencrest Capital Management acquired a new position in shares of Arista Networks during the 1st quarter worth $30,000. BluePath Capital Management LLC acquired a new position in shares of Arista Networks during the 3rd quarter worth $33,000. Finally, KB Financial Partners LLC acquired a new position in shares of Arista Networks during the 2nd quarter worth $36,000. 67.13% of the stock is currently owned by institutional investors.

Arista Networks Price Performance

Shares of Arista Networks stock opened at $248.99 on Thursday. The stock’s 50-day moving average is $228.44 and its 200 day moving average is $198.82. The firm has a market cap of $77.46 billion, a price-to-earnings ratio of 41.50, a PEG ratio of 1.98 and a beta of 1.09. Arista Networks, Inc. has a one year low of $107.57 and a one year high of $257.21.

Arista Networks (NYSE:ANETGet Free Report) last announced its quarterly earnings results on Monday, October 30th. The technology company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.22. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. Arista Networks had a return on equity of 31.16% and a net margin of 33.97%. On average, sell-side analysts expect that Arista Networks, Inc. will post 5.83 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Yvonne Wassenaar sold 186 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $234.23, for a total value of $43,566.78. Following the sale, the director now owns 2,864 shares in the company, valued at $670,834.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Yvonne Wassenaar sold 186 shares of the firm’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $234.23, for a total transaction of $43,566.78. Following the sale, the director now owns 2,864 shares in the company, valued at approximately $670,834.72. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $249.00, for a total transaction of $4,980,000.00. Following the transaction, the senior vice president now owns 3,244 shares in the company, valued at $807,756. The disclosure for this sale can be found here. In the last ninety days, insiders sold 232,416 shares of company stock valued at $51,397,892. Corporate insiders own 18.99% of the company’s stock.

Wall Street Analysts Forecast Growth

ANET has been the subject of a number of research analyst reports. Needham & Company LLC boosted their price target on Arista Networks from $215.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, November 10th. William Blair reaffirmed an “outperform” rating on shares of Arista Networks in a report on Tuesday, October 31st. StockNews.com initiated coverage on Arista Networks in a report on Thursday, October 5th. They issued a “hold” rating for the company. The Goldman Sachs Group upped their target price on Arista Networks from $223.00 to $248.00 and gave the stock a “buy” rating in a report on Friday, November 10th. Finally, Piper Sandler upped their target price on Arista Networks from $190.00 to $209.00 and gave the stock a “neutral” rating in a report on Friday, November 10th. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $226.94.

View Our Latest Report on ANET

About Arista Networks

(Free Report)

Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms.

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Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

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