Arista Networks, Inc. (NYSE:ANET) Director Kelly Bodnar Battles Sells 372 Shares

Arista Networks, Inc. (NYSE:ANET) Director Kelly Bodnar Battles sold 372 shares of Arista Networks stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $356.74, for a total transaction of $132,707.28. Following the completion of the transaction, the director now owns 2,565 shares of the company’s stock, valued at $915,038.10. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Tuesday, August 6th, Kelly Bodnar Battles sold 216 shares of Arista Networks stock. The stock was sold at an average price of $324.02, for a total value of $69,988.32.

Arista Networks Stock Up 4.9 %

ANET opened at $379.36 on Friday. The business’s fifty day simple moving average is $341.09 and its 200 day simple moving average is $315.79. Arista Networks, Inc. has a 52 week low of $168.25 and a 52 week high of $380.54. The stock has a market cap of $118.88 billion, a PE ratio of 52.84, a P/E/G ratio of 2.70 and a beta of 1.07.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, beating the consensus estimate of $1.72 by $0.38. The firm 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 company’s revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.41 EPS. As a group, equities analysts anticipate that Arista Networks, Inc. will post 7.38 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted 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 purchasing an additional 1,596,040 shares in the last quarter. Capital World Investors boosted its position 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 valued at $2,387,211,000 after buying an additional 55,312 shares during the period. WCM Investment Management LLC boosted its position 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 buying an additional 25,196 shares during the period. GQG Partners LLC bought a new position in shares of Arista Networks during the first quarter valued at about $881,848,000. Finally, Legal & General Group Plc increased its holdings 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 worth $769,560,000 after buying an additional 20,278 shares during the period. 82.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on ANET. Erste Group Bank reiterated a “buy” rating on shares of Arista Networks in a research note on Friday, June 14th. Piper Sandler upped their price target on Arista Networks from $302.00 to $345.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Needham & Company LLC restated a “buy” rating and issued a $375.00 price objective on shares of Arista Networks in a research report on Wednesday, July 31st. Morgan Stanley boosted their price objective on shares of Arista Networks from $325.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. Finally, Jefferies Financial Group increased their target price on shares of Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and an average target price of $358.63.

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.