Kelly Bodnar Battles Sells 373 Shares of Arista Networks, Inc. (NYSE:ANET) Stock

Arista Networks, Inc. (NYSE:ANET) Director Kelly Bodnar Battles sold 373 shares of the business’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $396.48, for a total value of $147,887.04. Following the sale, the director now owns 2,192 shares of the company’s stock, valued at approximately $869,084.16. The trade was 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.

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

• On Monday, September 16th, Kelly Bodnar Battles sold 372 shares of Arista Networks stock. The stock was sold at an average price of $356.74, for a total value of $132,707.28.
• On Tuesday, August 6th, Kelly Bodnar Battles sold 216 shares of Arista Networks stock. The shares were sold at an average price of $324.02, for a total transaction of $69,988.32.

Arista Networks Price Performance

ANET opened at $394.04 on Friday. The company has a market capitalization of $123.48 billion, a price-to-earnings ratio of 54.88, a P/E/G ratio of 3.21 and a beta of 1.07. The business’s 50-day moving average price is $371.30 and its two-hundred day moving average price is $334.19. Arista Networks, Inc. has a 1 year low of $168.25 and a 1 year high of $422.73.

Arista Networks (NYSE:ANET) last released its earnings results 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 analysts’ expectations of $1.66 billion. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.41 EPS. Sell-side analysts anticipate that Arista Networks, Inc. will post 7.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Beacon Capital Management LLC lifted its position in Arista Networks by 500.0% during the 2nd quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock worth $27,000 after buying an additional 65 shares in the last quarter. LGT Financial Advisors LLC bought a new stake in Arista Networks during the second quarter worth about $27,000. Byrne Asset Management LLC acquired a new position in Arista Networks during the second quarter valued at approximately $33,000. Sugarloaf Wealth Management LLC bought a new position in Arista Networks in the second quarter valued at approximately $35,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Arista Networks during the 2nd quarter worth approximately $35,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Rosenblatt Securities increased their price objective on shares of Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a report on Wednesday, July 31st. Evercore ISI raised their price target on Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Piper Sandler upped their price objective on Arista Networks from $302.00 to $345.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Morgan Stanley raised their target price on Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a report on Thursday, July 18th. Finally, The Goldman Sachs Group increased their price target on shares of Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. One investment 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $369.50.

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.