Insider Selling: Arista Networks, Inc. (NYSE:ANET) Insider Sells 288 Shares of Stock

Arista Networks, Inc. (NYSE:ANET) insider John F. Mccool sold 288 shares of Arista Networks stock in a transaction on Monday, December 9th. The stock was sold at an average price of $108.70, for a total transaction of $31,305.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Arista Networks Stock Performance

Shares of ANET stock opened at $112.39 on Friday. Arista Networks, Inc. has a fifty-two week low of $56.65 and a fifty-two week high of $112.77. The stock’s fifty day moving average price is $101.11 and its two-hundred day moving average price is $91.09. The company has a market cap of $141.58 billion, a PE ratio of 54.03, a P/E/G ratio of 3.21 and a beta of 1.10.

Arista Networks (NYSE:ANET) last released its 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. The firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The business’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.41 earnings per share. On average, equities analysts predict that Arista Networks, Inc. will post 1.96 EPS for the current fiscal year.

Hedge Funds Weigh In On Arista Networks

Institutional investors have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC grew its position in Arista Networks by 9.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 45,822 shares of the technology company’s stock worth $16,060,000 after acquiring an additional 3,875 shares during the last quarter. Archford Capital Strategies LLC grew its holdings in shares of Arista Networks by 1.4% during the second quarter. Archford Capital Strategies LLC now owns 7,524 shares of the technology company’s stock worth $2,637,000 after purchasing an additional 106 shares during the last quarter. Brown Lisle Cummings Inc. acquired a new position in shares of Arista Networks in the second quarter valued at approximately $35,000. DeDora Capital Inc. acquired a new position in shares of Arista Networks in the second quarter valued at approximately $222,000. Finally, KRS Capital Management LLC bought a new position in Arista Networks in the 2nd quarter valued at approximately $238,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on ANET shares. Barclays decreased their price target 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 lifted their price target on Arista Networks from $96.25 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Piper Sandler reaffirmed a “neutral” rating and issued a $105.25 price objective (up from $86.25) on shares of Arista Networks in a report on Friday, November 8th. The Goldman Sachs Group lifted their target price on Arista Networks from $97.50 to $107.50 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Finally, Wells Fargo & Company raised their price target on shares of Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Arista Networks currently has an average rating of “Moderate Buy” and a consensus price target of $98.88.

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.