Teacher Retirement System of Texas boosted its holdings in shares of Arista Networks Inc (NYSE:ANET) by 665.2% during the 4th quarter, Holdings Channel reports. The firm owned 97,874 shares of the technology company’s stock after purchasing an additional 85,083 shares during the quarter. Teacher Retirement System of Texas’ holdings in Arista Networks were worth $23,057,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. PNC Financial Services Group Inc. increased its holdings in Arista Networks by 20.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 740 shares of the technology company’s stock worth $111,000 after purchasing an additional 126 shares during the last quarter. Fieldpoint Private Securities LLC purchased a new stake in Arista Networks during the 3rd quarter worth approximately $130,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Arista Networks during the 3rd quarter worth approximately $151,000. TRUE Private Wealth Advisors purchased a new stake in Arista Networks during the 4th quarter worth approximately $210,000. Finally, CrestPoint Capital Management LLC purchased a new stake in Arista Networks during the 4th quarter worth approximately $212,000. Institutional investors own 58.11% of the company’s stock.
A number of equities research analysts have recently weighed in on ANET shares. Zacks Investment Research downgraded Arista Networks from a “buy” rating to a “hold” rating in a report on Wednesday. Goldman Sachs Group started coverage on Arista Networks in a report on Wednesday. They issued a “buy” rating and a $320.00 price target for the company. Loop Capital started coverage on Arista Networks in a report on Monday, January 29th. They issued a “hold” rating and a $250.00 price target for the company. JMP Securities boosted their price target on Arista Networks from $230.00 to $315.00 and gave the company a “market perform” rating in a report on Friday, January 26th. Finally, Citigroup boosted their price target on Arista Networks from $275.00 to $315.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Fifteen equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Arista Networks currently has an average rating of “Buy” and a consensus target price of $223.31.
In related news, insider Jayshree Ullal sold 52,557 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $231.82, for a total transaction of $12,183,763.74. Following the completion of the transaction, the insider now directly owns 3,564 shares in the company, valued at approximately $826,206.48. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Marc Taxay sold 2,000 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $275.31, for a total value of $550,620.00. Following the transaction, the senior vice president now owns 12,294 shares of the company’s stock, valued at $3,384,661.14. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 458,126 shares of company stock valued at $108,380,024. 28.09% of the stock is owned by company insiders.
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Arista Networks Profile
Arista Networks, Inc is a supplier of cloud networking solutions that use software innovations to address the needs of Internet companies, cloud service providers and data centers for enterprise support. It develops, markets and sells cloud networking solutions, which consist of its Gigabit Ethernet switches and related software.
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