Arista Networks, Inc. (NYSE:ANET) Director Sells $511,660.00 in Stock

Arista Networks, Inc. (NYSE:ANET) Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $255.83, for a total value of $511,660.00. Following the completion of the sale, the director now directly owns 56,946 shares of the company’s stock, valued at $14,568,495.18. The sale was disclosed in a filing with the SEC, which is available at this link.

Arista Networks Stock Performance

Shares of ANET opened at $274.40 on Monday. Arista Networks, Inc. has a 52 week low of $131.68 and a 52 week high of $307.74. The firm has a market capitalization of $85.79 billion, a P/E ratio of 41.77, a P/E/G ratio of 2.34 and a beta of 1.13. The company has a 50-day simple moving average of $279.07 and a 200-day simple moving average of $250.02.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.70 by $0.38. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the prior year, the firm posted $1.25 EPS. The company’s revenue for the quarter was up 20.8% on a year-over-year basis. As a group, equities analysts forecast that Arista Networks, Inc. will post 6.74 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Arista Networks by 5.7% in the 4th quarter. Vanguard Group Inc. now owns 29,494,876 shares of the technology company’s stock valued at $6,946,338,000 after buying an additional 1,596,040 shares in the last quarter. FMR LLC raised its position in Arista Networks by 32.2% in the third quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock worth $1,897,906,000 after purchasing an additional 2,515,864 shares in the last quarter. Capital World Investors lifted its stake in Arista Networks by 0.5% during the fourth quarter. Capital World Investors now owns 10,136,348 shares of the technology company’s stock worth $2,387,211,000 after purchasing an additional 55,312 shares during the period. WCM Investment Management LLC boosted its holdings in Arista Networks by 0.8% during the first quarter. WCM Investment Management LLC now owns 3,049,416 shares of the technology company’s stock valued at $884,270,000 after purchasing an additional 25,196 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Arista Networks in the 4th quarter valued at approximately $586,051,000. 82.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

ANET has been the subject of a number of research analyst reports. Piper Sandler increased their price target on shares of Arista Networks from $254.00 to $268.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 13th. JMP Securities restated a “market outperform” rating and set a $325.00 price target on shares of Arista Networks in a report on Tuesday, February 13th. JPMorgan Chase & Co. upped their target price on Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Wells Fargo & Company boosted their price target on Arista Networks from $225.00 to $310.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. Finally, KeyCorp raised their price objective on shares of Arista Networks from $232.00 to $287.00 and gave the company an “overweight” rating in a research report on Thursday, January 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $285.53.

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.