Arista Networks, Inc. (NYSE:ANET) Shares Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D boosted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 300.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 393,568 shares of the technology company’s stock after purchasing an additional 295,176 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Arista Networks were worth $43,501,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ANET. Caitlin John LLC boosted its stake in Arista Networks by 174.7% during the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after acquiring an additional 152 shares during the last quarter. Cranbrook Wealth Management LLC boosted its stake in Arista Networks by 300.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after acquiring an additional 198 shares during the last quarter. Trust Co. of Vermont boosted its stake in Arista Networks by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after acquiring an additional 198 shares during the last quarter. New Millennium Group LLC boosted its stake in Arista Networks by 300.0% during the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after acquiring an additional 195 shares during the last quarter. Finally, Westside Investment Management Inc. boosted its stake in Arista Networks by 1,012.0% during the 4th quarter. Westside Investment Management Inc. now owns 278 shares of the technology company’s stock valued at $31,000 after acquiring an additional 253 shares during the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ANET. StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Rosenblatt Securities increased their price objective on shares of Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a research note on Friday, November 8th. UBS Group raised their price target on shares of Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Barclays reduced their price target on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company raised their price target on shares of Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $107.59.

Arista Networks Stock Down 2.8 %

Shares of NYSE:ANET opened at $106.64 on Monday. The company has a market cap of $134.35 billion, a PE ratio of 51.27, a P/E/G ratio of 3.10 and a beta of 1.09. The company’s 50-day moving average price is $113.94 and its 200 day moving average price is $101.06. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.57.

Insider Activity at Arista Networks

In other Arista Networks news, insider John F. Mccool sold 288 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $108.70, for a total transaction of $31,305.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jayshree Ullal sold 71,036 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $100.06, for a total transaction of $7,107,506.98. Following the transaction, the chief executive officer now directly owns 70,724 shares in the company, valued at approximately $7,076,289.82. The trade was a 50.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 335,832 shares of company stock worth $37,787,297 in the last ninety days. 3.54% of the stock is owned by insiders.

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.