Insider Selling: Arista Networks, Inc. (NYSE:ANET) Director Sells 372 Shares of Stock

Arista Networks, Inc. (NYSE:ANET) Director Kelly Bodnar Battles sold 372 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $356.74, for a total transaction of $132,707.28. Following the sale, the director now owns 2,565 shares in the company, valued at approximately $915,038.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Kelly Bodnar Battles also recently made the following trade(s):

• On Tuesday, August 6th, Kelly Bodnar Battles sold 216 shares of Arista Networks stock. The shares were sold at an average price of $324.02, for a total value of $69,988.32.

Arista Networks Stock Performance

Shares of Arista Networks stock traded up $0.75 during midday trading on Wednesday, reaching $361.70. 1,036,420 shares of the company’s stock traded hands, compared to its average volume of 2,318,119. The stock has a 50 day moving average of $340.74 and a 200-day moving average of $315.02. Arista Networks, Inc. has a 12 month low of $168.25 and a 12 month high of $376.50. The company has a market cap of $113.34 billion, a PE ratio of 50.33, a price-to-earnings-growth ratio of 2.70 and a beta of 1.07.

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

Institutional Trading of Arista Networks

Institutional investors and hedge funds have recently bought and sold shares of the stock. FCG Investment Co boosted its holdings in shares of Arista Networks by 2.3% during the 2nd quarter. FCG Investment Co now owns 1,271 shares of the technology company’s stock valued at $445,000 after buying an additional 29 shares in the last quarter. Old Port Advisors increased its stake in shares of Arista Networks by 3.5% during the first quarter. Old Port Advisors now owns 955 shares of the technology company’s stock valued at $277,000 after purchasing an additional 32 shares in the last quarter. Fortitude Family Office LLC lifted its holdings in shares of Arista Networks by 33.3% during the second quarter. Fortitude Family Office LLC now owns 132 shares of the technology company’s stock valued at $46,000 after purchasing an additional 33 shares during the last quarter. Resonant Capital Advisors LLC grew its stake in shares of Arista Networks by 4.1% in the 2nd quarter. Resonant Capital Advisors LLC now owns 870 shares of the technology company’s stock worth $305,000 after buying an additional 34 shares during the last quarter. Finally, Modera Wealth Management LLC raised its stake in Arista Networks by 2.1% during the second quarter. Modera Wealth Management LLC now owns 1,782 shares of the technology company’s stock valued at $625,000 after buying an additional 37 shares during the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Evercore ISI reiterated an “outperform” rating and issued a $400.00 price objective on shares of Arista Networks in a report on Friday, September 13th. Barclays boosted their price objective on shares of Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Needham & Company LLC reiterated a “buy” rating and issued a $375.00 target price on shares of Arista Networks in a research report on Wednesday, July 31st. Bank of America upped their price target on shares of Arista Networks from $320.00 to $380.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Finally, Piper Sandler lifted their price objective on Arista Networks from $302.00 to $345.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $358.63.

Arista Networks Company Profile

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.