Insider Selling: Arista Networks, Inc. (NYSE:ANET) Insider Sells 1,585 Shares of Stock

Arista Networks, Inc. (NYSE:ANET) insider John F. Mccool sold 1,585 shares of Arista Networks stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $394.33, for a total value of $625,013.05. Following the transaction, the insider now owns 72 shares in the company, valued at approximately $28,391.76. The trade was a 95.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Arista Networks Stock Down 1.6 %

Shares of NYSE:ANET opened at $399.79 on Tuesday. Arista Networks, Inc. has a fifty-two week low of $210.69 and a fifty-two week high of $431.97. The firm’s 50 day moving average price is $394.02 and its 200 day moving average price is $354.66. The stock has a market cap of $125.91 billion, a price-to-earnings ratio of 48.05, a price-to-earnings-growth ratio of 3.28 and a beta of 1.08.

Arista Networks’s stock is set to split before the market opens on Wednesday, December 4th. The 4-1 split was announced on Thursday, November 7th. The newly issued shares will be issued to shareholders after the market closes on Tuesday, December 3rd.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Thursday, November 7th. The technology company reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.32. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The company’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.63 EPS. On average, equities analysts anticipate that Arista Networks, Inc. will post 7.75 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Citigroup lifted their price target on Arista Networks from $385.00 to $460.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. The Goldman Sachs Group lifted their price target on shares of Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Piper Sandler reiterated a “neutral” rating and issued a $421.00 price objective (up from $345.00) on shares of Arista Networks in a report on Friday, November 8th. JPMorgan Chase & Co. raised their target price on Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, Rosenblatt Securities upped their price target on Arista Networks from $265.00 to $320.00 and gave the company a “sell” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $395.19.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ANET. Zions Bancorporation N.A. boosted its holdings in Arista Networks by 6.9% in the third quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock valued at $160,000 after purchasing an additional 27 shares in the last quarter. Intellectus Partners LLC lifted its position in shares of Arista Networks by 1.4% during the 3rd quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock worth $740,000 after buying an additional 27 shares during the last quarter. First Affirmative Financial Network boosted its holdings in shares of Arista Networks by 4.3% in the 3rd quarter. First Affirmative Financial Network now owns 682 shares of the technology company’s stock valued at $262,000 after buying an additional 28 shares in the last quarter. Altman Advisors Inc. lifted its position in Arista Networks by 0.5% in the third quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock valued at $2,250,000 after acquiring an additional 28 shares during the last quarter. Finally, FCG Investment Co boosted its stake in Arista Networks by 2.3% in the second quarter. FCG Investment Co now owns 1,271 shares of the technology company’s stock valued at $445,000 after acquiring an additional 29 shares in the last quarter. 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.