Insider Selling: Arista Networks, Inc. (NYSE:ANET) Insider Sells $225,254.60 in Stock

by · The Markets Daily

Arista Networks, Inc. (NYSE:ANET – Get Free Report) insider John F. Mccool sold 580 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $388.37, for a total transaction of $225,254.60. Following the sale, the insider now owns 72 shares of the company’s stock, valued at approximately $27,962.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Arista Networks Stock Up 1.5 %

Shares of NYSE ANET opened at $395.97 on Friday. The stock’s 50-day simple moving average is $351.55 and its two-hundred day simple moving average is $324.05. Arista Networks, Inc. has a twelve month low of $168.25 and a twelve month high of $396.80. The firm has a market capitalization of $124.08 billion, a P/E ratio of 55.15, a P/E/G ratio of 3.04 and a beta of 1.07.

Arista Networks (NYSE:ANET – Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.38. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the prior year, the business earned $1.41 earnings per share. Arista Networks’s revenue for the quarter was up 15.9% compared to the same quarter last year. As a group, research analysts anticipate that Arista Networks, Inc. will post 7.38 EPS for the current fiscal year.

Institutional Trading of Arista Networks

Hedge funds have recently made changes to their positions in the stock. Benjamin Edwards Inc. purchased a new stake in Arista Networks during the first quarter valued at about $26,000. Beacon Capital Management LLC increased its position in shares of Arista Networks by 500.0% during the 2nd quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after purchasing an additional 65 shares during the last quarter. LGT Financial Advisors LLC purchased a new position in shares of Arista Networks during the 2nd quarter valued at about $27,000. Financial Synergies Wealth Advisors Inc. lifted its position in Arista Networks by 872.7% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock worth $31,000 after buying an additional 96 shares during the last quarter. Finally, Byrne Asset Management LLC purchased a new stake in Arista Networks in the second quarter worth approximately $33,000. 82.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ANET has been the subject of a number of recent research reports. Barclays raised their target price on Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Evercore ISI lifted their price objective on Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. KeyCorp upped their price objective on shares of Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Wells Fargo & Company lifted their target price on shares of Arista Networks from $340.00 to $390.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Arista Networks currently has an average rating of “Moderate Buy” and an average price target of $364.81.

Check Out Our Latest Stock Report on Arista Networks

Arista Networks Company Profile

(Get Free Report)

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.

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