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 business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $111.51, for a total value of $892,080.00. Following the transaction, the director now owns 163,784 shares of the company’s stock, valued at approximately $18,263,553.84. The trade was a 4.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Arista Networks Stock Up 0.4 %

NYSE ANET opened at $115.76 on Thursday. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $120.28. The company has a 50 day moving average price of $105.78 and a 200 day moving average price of $95.55. The firm has a market cap of $145.83 billion, a PE ratio of 55.65, a price-to-earnings-growth ratio of 3.21 and a beta of 1.08.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the prior year, the firm posted $0.41 earnings per share. The business’s quarterly revenue was up 20.0% on a year-over-year basis. On average, equities research analysts anticipate that Arista Networks, Inc. will post 1.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arista Networks

Several hedge funds have recently modified their holdings of the stock. Anchor Investment Management LLC acquired a new stake in Arista Networks during the 2nd quarter worth about $35,000. MidAtlantic Capital Management Inc. purchased a new stake in Arista Networks in the third quarter valued at approximately $44,000. HM Payson & Co. increased its holdings in Arista Networks by 28.2% in the 3rd quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock worth $51,000 after buying an additional 29 shares during the period. True Wealth Design LLC lifted its stake in Arista Networks by 2,133.3% during the 3rd 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 boosted 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 valued at $55,000 after acquiring an additional 93 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ANET shares. Rosenblatt Securities upped their price target on shares of Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a report on Friday, November 8th. The Goldman Sachs Group raised their target price on shares of Arista Networks from $97.50 to $107.50 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Evercore ISI boosted their price target on Arista Networks from $100.00 to $106.25 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Barclays reduced their price objective on Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $105.25 target price (up from $86.25) on shares of Arista Networks in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $102.42.

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.