Arista Networks Inc (NYSE:ANET) COO Sells $3,737,809.50 in Stock

Arista Networks Inc (NYSE:ANET) COO Anshul Sadana sold 15,558 shares of Arista Networks stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $240.25, for a total transaction of $3,737,809.50. Following the transaction, the chief operating officer now directly owns 4,172 shares of the company’s stock, valued at $1,002,323. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Anshul Sadana also recently made the following trade(s):

  • On Friday, May 29th, Anshul Sadana sold 10,790 shares of Arista Networks stock. The stock was sold at an average price of $230.12, for a total transaction of $2,482,994.80.

Shares of ANET opened at $246.92 on Thursday. The company has a 50 day moving average price of $220.50 and a 200-day moving average price of $213.66. Arista Networks Inc has a fifty-two week low of $156.63 and a fifty-two week high of $279.24. The stock has a market capitalization of $18.69 billion, a PE ratio of 24.94, a PEG ratio of 3.67 and a beta of 1.16. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.37 and a current ratio of 5.82.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.81 by $0.21. The firm had revenue of $523.00 million during the quarter, compared to analyst estimates of $517.45 million. Arista Networks had a net margin of 35.61% and a return on equity of 24.82%. Arista Networks’s revenue was down 12.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.31 EPS. Equities research analysts forecast that Arista Networks Inc will post 7.31 EPS for the current year.

A number of equities analysts recently commented on the stock. Piper Sandler cut shares of Arista Networks from an “overweight” rating to a “neutral” rating in a research note on Sunday, April 19th. Nomura lifted their price target on shares of Arista Networks from $180.00 to $190.00 in a research note on Wednesday, May 6th. Citigroup lifted their price target on shares of Arista Networks from $200.00 to $245.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. William Blair reaffirmed an “outperform” rating on shares of Arista Networks in a research note on Wednesday, May 6th. Finally, Nomura Instinet boosted their price objective on shares of Arista Networks from $180.00 to $190.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Twenty analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $215.04.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital Advisory Group Advisory Services LLC bought a new position in shares of Arista Networks during the 1st quarter worth approximately $34,000. Pearl River Capital LLC bought a new position in shares of Arista Networks during the 1st quarter worth approximately $35,000. Eudaimonia Partners LLC bought a new position in shares of Arista Networks during the 1st quarter worth approximately $39,000. Meeder Asset Management Inc. raised its stake in shares of Arista Networks by 154.3% during the 1st quarter. Meeder Asset Management Inc. now owns 206 shares of the technology company’s stock worth $41,000 after acquiring an additional 125 shares in the last quarter. Finally, EPG Wealth Management LLC bought a new position in shares of Arista Networks during the 1st quarter worth approximately $42,000. Hedge funds and other institutional investors own 61.56% of the company’s stock.

About Arista Networks

Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms, including universal leaf, spline, and universal spine products.

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