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 stock in a transaction on Friday, November 1st. The stock was sold at an average price of $387.33, for a total value of $241,693.92. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Tuesday, October 1st, Marc Taxay sold 624 shares of Arista Networks stock. The shares were sold at an average price of $388.37, for a total transaction of $242,342.88.
• 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 value of $1,512,431.04.

Arista Networks Trading Up 2.6 %

NYSE:ANET opened at $405.28 on Wednesday. The stock has a market capitalization of $127.32 billion, a P/E ratio of 52.57, a price-to-earnings-growth ratio of 3.47 and a beta of 1.08. Arista Networks, Inc. has a 1 year low of $203.19 and a 1 year high of $422.73. The firm has a 50 day moving average of $378.33 and a 200-day moving average of $341.91.

Analysts Set New Price Targets

Several research analysts recently commented on ANET shares. Citigroup lifted their target price on shares of Arista Networks from $385.00 to $460.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. UBS Group upped their price objective on shares of Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Jefferies Financial Group lifted their target price on Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. KeyCorp raised their price objective on Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Finally, The Goldman Sachs Group boosted their price objective on Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Arista Networks has an average rating of “Moderate Buy” and an average price target of $373.88.

Hedge Funds Weigh In On Arista Networks

A number of institutional investors and hedge funds have recently bought and sold shares of ANET. Beacon Capital Management LLC raised its holdings in shares of 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 buying an additional 65 shares during the last quarter. LGT Financial Advisors LLC acquired a new stake in Arista Networks in the 2nd quarter valued at about $27,000. Byrne Asset Management LLC bought a new position in shares of Arista Networks in the second quarter worth about $33,000. Sugarloaf Wealth Management LLC acquired a new position in shares of Arista Networks during the second quarter worth approximately $35,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Arista Networks during the second quarter valued at approximately $35,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

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.