Public Employees Retirement System of Ohio Has $2,023,000 Position in Arista Networks, Inc. (NYSE:ANET)

Public Employees Retirement System of Ohio maintained its stake in Arista Networks, Inc. (NYSE:ANET) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,298 shares of the technology company’s stock at the end of the first quarter. Public Employees Retirement System of Ohio’s holdings in Arista Networks were worth $2,023,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in ANET. First Personal Financial Services raised its stake in shares of Arista Networks by 3.3% in the first quarter. First Personal Financial Services now owns 1,984 shares of the technology company’s stock valued at $262,000 after buying an additional 63 shares in the last quarter. Profund Advisors LLC raised its stake in shares of Arista Networks by 1.7% in the first quarter. Profund Advisors LLC now owns 12,569 shares of the technology company’s stock valued at $1,663,000 after buying an additional 209 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Arista Networks by 16.5% in the first quarter. IFP Advisors Inc now owns 1,697 shares of the technology company’s stock valued at $224,000 after buying an additional 240 shares in the last quarter. Stifel Financial Corp raised its stake in shares of Arista Networks by 2.6% in the first quarter. Stifel Financial Corp now owns 10,170 shares of the technology company’s stock valued at $1,349,000 after buying an additional 256 shares in the last quarter. Finally, Blair William & Co. IL raised its stake in shares of Arista Networks by 6.0% in the first quarter. Blair William & Co. IL now owns 5,176 shares of the technology company’s stock valued at $678,000 after buying an additional 291 shares in the last quarter. 60.61% of the stock is owned by institutional investors and hedge funds.

Arista Networks, Inc. (ANET) opened at 152.92 on Friday. The stock has a market capitalization of $11.01 billion, a PE ratio of 49.39 and a beta of 1.35. Arista Networks, Inc. has a one year low of $68.75 and a one year high of $162.97. The company’s 50 day moving average price is $153.36 and its 200-day moving average price is $130.11.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Thursday, May 4th. The technology company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.09. Arista Networks had a return on equity of 20.94% and a net margin of 18.95%. The company had revenue of $335.48 million during the quarter, compared to analyst estimates of $326.19 million. During the same period in the prior year, the company earned $0.68 earnings per share. The firm’s revenue was up 38.5% on a year-over-year basis. Analysts expect that Arista Networks, Inc. will post $3.96 earnings per share for the current year.

Several brokerages have recently issued reports on ANET. DA Davidson lowered Arista Networks from a “buy” rating to a “neutral” rating and set a $153.00 target price for the company. in a research report on Monday, May 22nd. Oppenheimer Holdings, Inc. set a $160.00 target price on Arista Networks and gave the company a “buy” rating in a research report on Thursday, May 4th. Wells Fargo & Company reaffirmed an “outperform” rating on shares of Arista Networks in a research report on Saturday, June 3rd. Cowen and Company raised their target price on Arista Networks from $123.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, May 5th. Finally, BMO Capital Markets raised their target price on Arista Networks from $145.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday, May 5th. Sixteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Arista Networks has a consensus rating of “Buy” and a consensus price target of $140.00.

In related news, SVP Marc Taxay sold 2,000 shares of the stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $139.51, for a total transaction of $279,020.00. Following the completion of the transaction, the senior vice president now directly owns 10,650 shares of the company’s stock, valued at $1,485,781.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jayshree Ullal sold 61,325 shares of the stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $160.25, for a total value of $9,827,331.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 648,962 shares of company stock valued at $98,381,418. 28.09% of the stock is owned by corporate insiders.

About Arista Networks

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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