Insider Selling: Arista Networks (NYSE:ANET) Director Sells 8,000 Shares of Stock

by · The Markets Daily

Arista Networks, Inc. (NYSE:ANET – Get Free Report) Director Charles Giancarlo sold 8,000 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $128.67, for a total value of $1,029,360.00. Following the transaction, the director directly owned 1,784 shares of the company’s stock, valued at approximately $229,547.28. The trade was a 81.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Arista Networks Stock Performance

NYSE:ANET traded up $10.35 during trading hours on Wednesday, reaching $134.95. The stock had a trading volume of 6,880,295 shares, compared to its average volume of 8,680,938. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $164.94. The company has a 50 day moving average price of $134.19 and a two-hundred day moving average price of $137.19. The stock has a market capitalization of $169.57 billion, a PE ratio of 48.89, a PEG ratio of 2.29 and a beta of 1.46.

Arista Networks (NYSE:ANET – Get Free Report) last posted its earnings results on Thursday, February 12th. The technology company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.07. Arista Networks had a return on equity of 30.37% and a net margin of 38.99%.The firm had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same period in the prior year, the company earned $0.66 EPS. The company’s quarterly revenue was up 28.9% compared to the same quarter last year. Equities research analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current year.

Institutional Trading of Arista Networks

Institutional investors and hedge funds have recently made changes to their positions in the business. Bare Financial Services Inc grew its holdings in shares of Arista Networks by 2,118.2% in the second quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock worth $25,000 after purchasing an additional 233 shares during the last quarter. Board of the Pension Protection Fund purchased a new stake in Arista Networks in the 4th quarter valued at about $26,000. Sankala Group LLC purchased a new stake in Arista Networks in the 4th quarter valued at about $27,000. Prosperity Bancshares Inc bought a new position in Arista Networks in the 4th quarter worth about $28,000. Finally, AdvisorNet Financial Inc increased its position in shares of Arista Networks by 56.7% during the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after acquiring an additional 72 shares during the period. 82.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Needham & Company LLC upped their target price on shares of Arista Networks from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, February 13th. Weiss Ratings reissued a “hold (c+)” rating on shares of Arista Networks in a research note on Monday, December 29th. Evercore reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Arista Networks in a research note on Friday, February 13th. UBS Group set a $200.00 target price on Arista Networks in a report on Tuesday, February 24th. Finally, Wells Fargo & Company increased their price target on Arista Networks from $175.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, February 13th. Seventeen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $176.88.

Read Our Latest Research Report on Arista Networks

About Arista Networks

(Get Free Report)

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.

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