Insider Selling: Arista Networks, Inc. (NYSE:ANET) SVP Sells 624 Shares of Stock

Arista Networks, Inc. (NYSE:ANET) SVP Marc Taxay sold 624 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $388.37, for a total transaction of $242,342.88. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Marc Taxay also recently made the following trade(s):

• On Tuesday, September 3rd, Marc Taxay sold 4,497 shares of Arista Networks stock. The stock was sold at an average price of $336.32, for a total transaction of $1,512,431.04.
• On Thursday, August 1st, Marc Taxay sold 628 shares of Arista Networks stock. The shares were sold at an average price of $350.50, for a total value of $220,114.00.

Arista Networks Trading Up 0.1 %

NYSE:ANET traded up $0.30 during midday trading on Thursday, hitting $389.92. 1,130,988 shares of the company traded hands, compared to its average volume of 2,269,743. The firm has a market capitalization of $122.19 billion, a P/E ratio of 54.31, a P/E/G ratio of 3.04 and a beta of 1.07. The firm’s fifty day moving average is $350.01 and its 200-day moving average is $323.05. Arista Networks, Inc. has a 12-month low of $168.25 and a 12-month high of $395.82.

Arista Networks (NYSE:ANET) last announced its earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share for the quarter, beating 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 business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the prior year, the firm posted $1.41 earnings per share. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, research analysts expect that Arista Networks, Inc. will post 7.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ANET. Capital Market Strategies LLC grew its holdings in shares of Arista Networks by 5.5% in the third quarter. Capital Market Strategies LLC now owns 1,299 shares of the technology company’s stock worth $499,000 after purchasing an additional 68 shares during the last quarter. Park Avenue Securities LLC lifted its holdings in Arista Networks by 6.5% during the 3rd quarter. Park Avenue Securities LLC now owns 12,364 shares of the technology company’s stock valued at $4,746,000 after buying an additional 758 shares in the last quarter. Czech National Bank boosted its position in Arista Networks by 8.5% in the 3rd quarter. Czech National Bank now owns 52,476 shares of the technology company’s stock valued at $20,141,000 after buying an additional 4,108 shares during the period. Massmutual Trust Co. FSB ADV grew its stake in Arista Networks by 10.7% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 724 shares of the technology company’s stock worth $278,000 after acquiring an additional 70 shares in the last quarter. Finally, Jacobs & Co. CA increased its position in shares of Arista Networks by 17.7% during the third quarter. Jacobs & Co. CA now owns 1,662 shares of the technology company’s stock worth $637,000 after acquiring an additional 250 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Analyst Ratings Changes

ANET has been the subject of several research analyst reports. Morgan Stanley increased their target price on Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday, July 18th. Evercore ISI increased their price objective on shares of Arista Networks from $400.00 to $425.00 and gave the company an “outperform” rating in a report on Tuesday. Barclays upped their target price on shares of Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Wells Fargo & Company raised their target price on shares of Arista Networks from $340.00 to $390.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Finally, Piper Sandler boosted their price target on shares of Arista Networks from $302.00 to $345.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $364.81.

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.