Arista Networks, Inc. (NYSE:ANET) Director Sells $892,080.00 in Stock

Arista Networks, Inc. (NYSE:ANET) Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $111.51, for a total transaction of $892,080.00. Following the completion of the sale, the director now directly owns 163,784 shares in the company, valued at approximately $18,263,553.84. This represents a 4.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Arista Networks Stock Performance

Arista Networks stock traded up $3.74 during mid-day trading on Monday, reaching $118.94. 10,094,572 shares of the company were exchanged, compared to its average volume of 6,611,462. The firm’s 50-day simple moving average is $104.73 and its two-hundred day simple moving average is $94.95. Arista Networks, Inc. has a twelve month low of $58.75 and a twelve month high of $119.53. The firm has a market cap of $149.84 billion, a PE ratio of 57.18, a price-to-earnings-growth ratio of 3.21 and a beta of 1.08.

Arista Networks (NYSE:ANET) last released its earnings results on Thursday, November 7th. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.52 by $0.08. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter last year, the business earned $0.41 EPS. The business’s revenue was up 20.0% on a year-over-year basis. As a group, equities research analysts anticipate that Arista Networks, Inc. will post 1.96 EPS for the current year.

Wall Street Analysts Forecast Growth

ANET has been the subject of a number of analyst reports. StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Evercore ISI increased their price objective on Arista Networks from $100.00 to $106.25 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Rosenblatt Securities boosted their target price on Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a research note on Friday, November 8th. Citigroup increased their price target on shares of Arista Networks from $96.25 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Finally, Morgan Stanley boosted their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $100.70.

Hedge Funds Weigh In On Arista Networks

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp boosted its stake in shares of Arista Networks by 3.8% in the third quarter. State Street Corp now owns 11,237,635 shares of the technology company’s stock valued at $4,313,229,000 after buying an additional 411,109 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Arista Networks by 4.2% during the 3rd quarter. Geode Capital Management LLC now owns 5,871,481 shares of the technology company’s stock worth $2,246,705,000 after purchasing an additional 236,151 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Arista Networks by 22.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,660,695 shares of the technology company’s stock worth $1,021,228,000 after purchasing an additional 492,615 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Arista Networks by 4.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,283,573 shares of the technology company’s stock valued at $876,481,000 after purchasing an additional 99,790 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of Arista Networks by 0.9% in the second quarter. Legal & General Group Plc now owns 2,195,733 shares of the technology company’s stock valued at $769,560,000 after purchasing an additional 20,278 shares during the period. Institutional investors and hedge funds 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.