Arista Networks, Inc. (NYSE:ANET) Insider John F. Mccool Sells 580 Shares

Arista Networks, Inc. (NYSE:ANET) insider John F. Mccool sold 580 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $388.37, for a total value of $225,254.60. Following the sale, the insider now owns 72 shares in the company, valued at $27,962.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Arista Networks Trading Up 0.1 %

Arista Networks stock traded up $0.30 during mid-day trading on Thursday, hitting $389.92. The company’s stock had a trading volume of 1,130,988 shares, compared to its average volume of 2,269,743. The firm has a market capitalization of $122.19 billion, a PE ratio of 54.31, a price-to-earnings-growth ratio of 3.04 and a beta of 1.07. Arista Networks, Inc. has a 1 year low of $168.25 and a 1 year high of $395.82. The stock’s fifty day moving average is $350.01 and its two-hundred day moving average is $323.05.

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 firm had revenue of $1.69 billion for 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 business’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.41 EPS. On average, equities analysts expect that Arista Networks, Inc. will post 7.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on ANET shares. Citigroup raised their price objective on Arista Networks from $330.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Bank of America boosted their price target on shares of Arista Networks from $320.00 to $380.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Wells Fargo & Company increased their price objective on shares of Arista Networks from $340.00 to $390.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Erste Group Bank restated a “buy” rating on shares of Arista Networks in a research report on Friday, June 14th. Finally, 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, Arista Networks has a consensus rating of “Moderate Buy” and a consensus target price of $364.81.

Institutional Trading of Arista Networks

A number of large investors have recently modified their holdings of ANET. Benjamin Edwards Inc. acquired a new stake in Arista Networks in the first quarter valued at $26,000. Beacon Capital Management LLC increased its stake in Arista Networks by 500.0% in the second 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 acquired a new stake in Arista Networks during the second quarter worth approximately $27,000. Financial Synergies Wealth Advisors Inc. lifted its position in shares of Arista Networks by 872.7% during 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 acquired a new position in shares of Arista Networks in the 2nd quarter valued at $33,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

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.