Arista Networks, Inc. (NYSE:ANET) Shares Acquired by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System increased its stake in Arista Networks, Inc. (NYSE:ANET) by 0.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 14,500 shares of the technology company’s stock after buying an additional 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Arista Networks were worth $5,565,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Beacon Capital Management LLC lifted its position in Arista Networks by 500.0% during the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after buying an additional 65 shares in the last quarter. LGT Financial Advisors LLC acquired a new position in Arista Networks during the second quarter valued at approximately $27,000. Byrne Asset Management LLC acquired a new position in Arista Networks during the second quarter valued at approximately $33,000. Sugarloaf Wealth Management LLC acquired a new position in Arista Networks during the second quarter valued at approximately $35,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in Arista Networks during the second quarter valued at approximately $35,000. 82.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ANET has been the topic of a number of recent research reports. Jefferies Financial Group lifted their price target on shares of Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Evercore ISI lifted their price objective on shares of Arista Networks from $400.00 to $425.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Rosenblatt Securities lifted their price objective on shares of Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a research note on Wednesday, July 31st. Needham & Company LLC reiterated a “buy” rating and set a $375.00 price objective on shares of Arista Networks in a research note on Wednesday, July 31st. Finally, UBS Group lifted their price objective on shares of Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $369.50.

Insiders Place Their Bets

In other news, SVP Marc Taxay sold 628 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $350.50, for a total transaction of $220,114.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Kelly Bodnar Battles sold 373 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $396.48, for a total transaction of $147,887.04. Following the completion of the transaction, the director now owns 2,192 shares of the company’s stock, valued at approximately $869,084.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Marc Taxay sold 628 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $350.50, for a total transaction of $220,114.00. The disclosure for this sale can be found here. Insiders sold a total of 58,570 shares of company stock valued at $21,474,782 over the last 90 days. 3.54% of the stock is owned by company insiders.

Arista Networks Price Performance

Arista Networks stock opened at $394.09 on Friday. The company has a market cap of $123.49 billion, a PE ratio of 54.89, a P/E/G ratio of 3.21 and a beta of 1.07. The company has a fifty day moving average price of $372.10 and a two-hundred day moving average price of $335.14. Arista Networks, Inc. has a 12 month low of $168.25 and a 12 month high of $422.73.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.38. The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.66 billion. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The firm’s revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.41 earnings per share. Equities research analysts anticipate that Arista Networks, Inc. will post 7.38 earnings per share for the current year.

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.