Illinois Municipal Retirement Fund Increases Stock Position in Arista Networks, Inc. (NYSE:ANET)

Illinois Municipal Retirement Fund increased its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 9.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 60,515 shares of the technology company’s stock after purchasing an additional 5,386 shares during the period. Illinois Municipal Retirement Fund’s holdings in Arista Networks were worth $14,252,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC acquired a new stake in shares of Arista Networks in the 3rd quarter valued at about $28,000. First Command Advisory Services Inc. acquired a new stake in shares of Arista Networks in the 3rd quarter valued at about $29,000. BluePath Capital Management LLC acquired a new stake in shares of Arista Networks in the 3rd quarter valued at about $33,000. NBC Securities Inc. acquired a new stake in shares of Arista Networks in the 3rd quarter valued at about $33,000. Finally, Atticus Wealth Management LLC raised its stake in shares of Arista Networks by 3,625.0% in the 4th quarter. Atticus Wealth Management LLC now owns 149 shares of the technology company’s stock valued at $35,000 after purchasing an additional 145 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Arista Networks

In related news, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $290.05, for a total transaction of $5,801,000.00. Following the completion of the sale, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at $940,922.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $290.05, for a total value of $5,801,000.00. Following the completion of the sale, the senior vice president now owns 3,244 shares in the company, valued at approximately $940,922.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Yvonne Wassenaar sold 224 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total transaction of $57,184.96. Following the completion of the sale, the director now owns 2,827 shares of the company’s stock, valued at approximately $721,704.83. The disclosure for this sale can be found here. Insiders sold a total of 334,227 shares of company stock valued at $95,828,875 over the last ninety days. Insiders own 18.99% of the company’s stock.

Arista Networks Trading Up 1.8 %

ANET stock traded up $4.31 on Tuesday, hitting $249.78. 913,444 shares of the company’s stock traded hands, compared to its average volume of 2,449,330. Arista Networks, Inc. has a 1-year low of $131.68 and a 1-year high of $307.74. The stock has a market cap of $78.09 billion, a price-to-earnings ratio of 37.88, a P/E/G ratio of 2.10 and a beta of 1.09. The stock has a fifty day moving average of $279.58 and a 200-day moving average of $245.79.

Arista Networks (NYSE:ANET) last released its earnings results on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.70 by $0.38. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same period in the prior year, the business earned $1.25 earnings per share. The business’s quarterly revenue was up 20.8% on a year-over-year basis. On average, equities research analysts anticipate that Arista Networks, Inc. will post 6.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ANET shares. Rosenblatt Securities restated a “sell” rating and issued a $210.00 target price on shares of Arista Networks in a research note on Friday, April 12th. Wells Fargo & Company increased their price objective on shares of Arista Networks from $225.00 to $310.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. JPMorgan Chase & Co. increased their price objective on shares of Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Evercore ISI reiterated an “outperform” rating and set a $300.00 price objective on shares of Arista Networks in a research note on Wednesday, March 27th. Finally, Melius Research upgraded shares of Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a research note on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Arista Networks presently has an average rating of “Moderate Buy” and an average price target of $275.59.

Arista Networks Company 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.