Insider Selling: Arista Networks, Inc. (NYSE:ANET) Director Sells 2,000 Shares of Stock

Arista Networks, Inc. (NYSE:ANET) Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $382.52, for a total transaction of $765,040.00. Following the transaction, the director now directly owns 46,946 shares in the company, valued at $17,957,783.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Arista Networks Stock Up 1.5 %

Shares of ANET stock opened at $395.99 on Friday. The company has a 50 day moving average of $351.55 and a 200-day moving average of $323.80. Arista Networks, Inc. has a 12-month low of $168.25 and a 12-month high of $396.80. The firm has a market cap of $124.09 billion, a P/E ratio of 55.15, a PEG ratio of 3.04 and a beta of 1.07.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter last year, the business posted $1.41 EPS. Arista Networks’s quarterly revenue was up 15.9% compared to the same quarter last year. As a group, equities analysts expect that Arista Networks, Inc. will post 7.38 EPS for the current year.

Institutional Investors Weigh In On Arista Networks

Several large investors have recently modified their holdings of ANET. Campbell & CO Investment Adviser LLC increased its stake in shares of Arista Networks by 21.1% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 3,688 shares of the technology company’s stock worth $869,000 after purchasing an additional 643 shares during the last quarter. CWA Asset Management Group LLC grew its stake in Arista Networks by 14.6% in the 4th quarter. CWA Asset Management Group LLC now owns 1,649 shares of the technology company’s stock valued at $388,000 after buying an additional 210 shares in the last quarter. Belpointe Asset Management LLC purchased a new position in Arista Networks in the 4th quarter valued at approximately $816,000. CIBC Private Wealth Group LLC grew its stake in Arista Networks by 26.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 19,562 shares of the technology company’s stock valued at $4,607,000 after buying an additional 4,059 shares in the last quarter. Finally, Lake Street Advisors Group LLC purchased a new position in Arista Networks in the 4th quarter valued at approximately $290,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ANET shares. Bank of America increased their price objective on shares of Arista Networks from $320.00 to $380.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. UBS Group raised their price target on shares of Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. KeyCorp raised their price target on shares of Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Rosenblatt Securities raised their price target on shares of Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a research report on Wednesday, July 31st. Finally, Jefferies Financial Group raised their price target on shares of Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $364.81.

About Arista Networks

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.