Arista Networks, Inc. (NYSE:ANET) Director Sells $765,040.00 in Stock

Arista Networks, Inc. (NYSE:ANET) Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $382.52, for a total value of $765,040.00. Following the sale, the director now directly owns 46,946 shares of the company’s stock, valued at approximately $17,957,783.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Arista Networks Stock Performance

ANET stock opened at $395.97 on Friday. Arista Networks, Inc. has a 1 year low of $168.25 and a 1 year high of $396.80. The stock’s 50 day moving average price is $351.55 and its 200 day moving average price is $324.05. The firm has a market cap of $124.08 billion, a P/E ratio of 55.15, a PEG ratio of 3.04 and a beta of 1.07.

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

Institutional Trading of Arista Networks

Institutional investors and hedge funds have recently made changes to their positions in the company. Benjamin Edwards Inc. acquired a new stake in shares of Arista Networks during the 1st quarter worth $26,000. Beacon Capital Management LLC increased its holdings in Arista Networks by 500.0% in the 2nd quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after purchasing an additional 65 shares in the last quarter. LGT Financial Advisors LLC acquired a new stake in Arista Networks in the 2nd quarter valued at $27,000. Financial Synergies Wealth Advisors Inc. increased its holdings in Arista Networks by 872.7% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock valued at $31,000 after purchasing an additional 96 shares in the last quarter. Finally, Byrne Asset Management LLC acquired a new stake in Arista Networks in the 2nd quarter valued at $33,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ANET shares. Barclays lifted their target price on Arista Networks from $320.00 to $341.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Bank of America boosted their target price on Arista Networks from $320.00 to $380.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Jefferies Financial Group boosted their target price on Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their target price on Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, The Goldman Sachs Group boosted their target price on Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, Arista Networks presently has an average rating of “Moderate Buy” and an average price target of $364.81.

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.