Insider Selling: 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 company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $111.51, for a total value of $892,080.00. Following the completion of the sale, the director now owns 163,784 shares of the company’s stock, valued at $18,263,553.84. This trade represents a 4.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Arista Networks Price Performance

NYSE:ANET opened at $115.76 on Thursday. The company has a market cap of $145.83 billion, a price-to-earnings ratio of 55.65, a PEG ratio of 3.21 and a beta of 1.08. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $120.28. The stock’s 50 day simple moving average is $105.78 and its two-hundred day simple moving average is $95.55.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the prior year, the firm earned $0.41 earnings per share. Arista Networks’s revenue was up 20.0% on a year-over-year basis. As a group, analysts anticipate that Arista Networks, Inc. will post 1.96 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ANET. Anchor Investment Management LLC purchased a new position in shares of Arista Networks in the 2nd quarter worth approximately $35,000. MidAtlantic Capital Management Inc. purchased a new position in Arista Networks during the third quarter worth $44,000. HM Payson & Co. increased its position in Arista Networks by 28.2% during the third quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock valued at $51,000 after acquiring an additional 29 shares during the last quarter. True Wealth Design LLC raised its stake in shares of Arista Networks by 2,133.3% in the third quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock valued at $51,000 after acquiring an additional 128 shares during the period. Finally, ORG Partners LLC lifted its holdings in shares of Arista Networks by 186.0% in the 3rd quarter. ORG Partners LLC now owns 143 shares of the technology company’s stock worth $55,000 after acquiring an additional 93 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on ANET shares. Piper Sandler restated a “neutral” rating and issued a $105.25 price target (up previously from $86.25) on shares of Arista Networks in a research report on Friday, November 8th. Barclays decreased their target price on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. Citigroup upped their price target on shares of Arista Networks from $96.25 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. The Goldman Sachs Group raised their price objective on shares of Arista Networks from $97.50 to $107.50 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Finally, Wells Fargo & Company increased their price target on Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $102.42.

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.