Insider Selling: Arista Networks, Inc. (NYSE:ANET) Director Sells 373 Shares of Stock

Arista Networks, Inc. (NYSE:ANET) Director Kelly Bodnar Battles sold 373 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $396.48, for a total transaction of $147,887.04. Following the completion of the transaction, the director now directly owns 2,192 shares of the company’s stock, valued at $869,084.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Kelly Bodnar Battles also recently made the following trade(s):

• On Monday, September 16th, Kelly Bodnar Battles sold 372 shares of Arista Networks stock. The shares were sold at an average price of $356.74, for a total transaction of $132,707.28.
• On Tuesday, August 6th, Kelly Bodnar Battles sold 216 shares of Arista Networks stock. The shares were sold at an average price of $324.02, for a total transaction of $69,988.32.

Arista Networks Price Performance

Shares of ANET stock traded up $1.53 on Thursday, hitting $395.57. 1,113,209 shares of the stock traded hands, compared to its average volume of 2,225,495. The company has a market capitalization of $123.96 billion, a PE ratio of 55.11, a PEG ratio of 3.21 and a beta of 1.07. Arista Networks, Inc. has a 1-year low of $168.25 and a 1-year high of $422.73. The company’s fifty day moving average is $370.52 and its 200 day moving average is $333.77.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.38. The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The business’s revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.41 EPS. As a group, equities research analysts expect that Arista Networks, Inc. will post 7.38 EPS for the current year.

Institutional Investors Weigh In On Arista Networks

Several institutional investors and hedge funds have recently made changes to their positions in the company. First Affirmative Financial Network raised its position in shares of Arista Networks by 4.3% during the 3rd quarter. First Affirmative Financial Network now owns 682 shares of the technology company’s stock valued at $262,000 after acquiring an additional 28 shares in the last quarter. FCG Investment Co increased its position in Arista Networks by 2.3% in the second quarter. FCG Investment Co now owns 1,271 shares of the technology company’s stock worth $445,000 after buying an additional 29 shares during the period. Everpar Advisors LLC increased its position in Arista Networks by 1.5% in the third quarter. Everpar Advisors LLC now owns 1,907 shares of the technology company’s stock worth $732,000 after buying an additional 29 shares during the period. Foundations Investment Advisors LLC increased its position in Arista Networks by 5.0% in the third quarter. Foundations Investment Advisors LLC now owns 653 shares of the technology company’s stock worth $251,000 after buying an additional 31 shares during the period. Finally, Old Port Advisors increased its position in Arista Networks by 3.5% in the first quarter. Old Port Advisors now owns 955 shares of the technology company’s stock worth $277,000 after buying an additional 32 shares during the period. 82.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ANET shares. Rosenblatt Securities boosted their target price on shares of Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a research note on Wednesday, July 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $375.00 price objective on shares of Arista Networks in a research note on Wednesday, July 31st. Barclays upped their price objective on shares of Arista Networks from $320.00 to $341.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. upped their price objective on shares of Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company boosted their target price on Arista Networks from $340.00 to $390.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $369.50.

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.