Arista Networks, Inc. (NYSE:ANET) Director Sells $765,040.00 in Stock

Arista Networks, Inc. (NYSE:ANET) Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $382.52, for a total transaction of $765,040.00. Following the completion of the sale, the director now owns 46,946 shares of the company’s stock, valued at approximately $17,957,783.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Arista Networks Stock Up 0.1 %

Shares of ANET stock traded up $0.30 on Thursday, reaching $389.92. 1,130,988 shares of the stock were exchanged, compared to its average volume of 2,269,743. Arista Networks, Inc. has a 1-year low of $168.25 and a 1-year high of $395.82. The stock has a market cap of $122.19 billion, a P/E ratio of 54.31, a price-to-earnings-growth ratio of 3.04 and a beta of 1.07. The firm has a 50 day moving average of $350.01 and a two-hundred day moving average of $323.05.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ANET. UniSuper Management Pty Ltd grew its stake in shares of Arista Networks by 20.3% in the first quarter. UniSuper Management Pty Ltd now owns 36,329 shares of the technology company’s stock valued at $10,535,000 after buying an additional 6,133 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of Arista Networks during the first quarter valued at approximately $1,405,000. M&G Plc acquired a new position in shares of Arista Networks during the first quarter worth $3,238,000. Nordea Investment Management AB boosted its stake in shares of Arista Networks by 32.5% in the first quarter. Nordea Investment Management AB now owns 26,799 shares of the technology company’s stock valued at $7,810,000 after purchasing an additional 6,578 shares during the period. Finally, Cim LLC acquired a new stake in Arista Networks during the 4th quarter valued at $2,589,000. 82.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Needham & Company LLC reissued a “buy” rating and set a $375.00 price target on shares of Arista Networks in a research note on Wednesday, July 31st. Rosenblatt Securities lifted their price objective on Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a report on Wednesday, July 31st. Erste Group Bank reissued a “buy” rating on shares of Arista Networks in a report on Friday, June 14th. The Goldman Sachs Group lifted their price target on Arista Networks from $390.00 to $430.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Finally, Bank of America raised their target price on shares of Arista Networks from $320.00 to $380.00 and gave the company a “buy” rating in a report on Thursday, June 20th. One 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. Based on data from MarketBeat.com, Arista Networks presently has a consensus rating of “Moderate Buy” and a consensus 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.