Kelly Bodnar Battles Sells 372 Shares of Arista Networks, Inc. (NYSE:ANET) Stock

Arista Networks, Inc. (NYSE:ANET) Director Kelly Bodnar Battles sold 372 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $356.74, for a total value of $132,707.28. Following the transaction, the director now directly owns 2,565 shares in the company, valued at $915,038.10. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• 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 value of $69,988.32.

Arista Networks Trading Up 0.2 %

Shares of ANET stock opened at $361.70 on Thursday. The stock has a market cap of $113.34 billion, a price-to-earnings ratio of 50.38, a PEG ratio of 2.70 and a beta of 1.07. The stock has a 50-day moving average of $340.70 and a 200-day moving average of $315.34. Arista Networks, Inc. has a 1-year low of $168.25 and a 1-year high of $376.50.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, topping the consensus estimate of $1.72 by $0.38. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter last year, the firm posted $1.41 earnings per share. The firm’s revenue was up 15.9% on a year-over-year basis. Sell-side analysts forecast that Arista Networks, Inc. will post 7.38 earnings per share for the current year.

Institutional Investors Weigh In On Arista Networks

Large investors have recently added to or reduced their stakes in the business. FCG Investment Co grew its stake in Arista Networks by 2.3% in the second quarter. FCG Investment Co now owns 1,271 shares of the technology company’s stock valued at $445,000 after acquiring an additional 29 shares during the period. Old Port Advisors lifted its holdings in shares of Arista Networks by 3.5% in the first quarter. Old Port Advisors now owns 955 shares of the technology company’s stock valued at $277,000 after purchasing an additional 32 shares in the last quarter. Fortitude Family Office LLC lifted its holdings in shares of Arista Networks by 33.3% in the second quarter. Fortitude Family Office LLC now owns 132 shares of the technology company’s stock valued at $46,000 after purchasing an additional 33 shares in the last quarter. Resonant Capital Advisors LLC lifted its holdings in shares of Arista Networks by 4.1% in the second quarter. Resonant Capital Advisors LLC now owns 870 shares of the technology company’s stock valued at $305,000 after purchasing an additional 34 shares in the last quarter. Finally, Modera Wealth Management LLC lifted its holdings in shares of Arista Networks by 2.1% in the second quarter. Modera Wealth Management LLC now owns 1,782 shares of the technology company’s stock valued at $625,000 after purchasing an additional 37 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on ANET shares. Evercore ISI reaffirmed an “outperform” rating and issued a $400.00 price objective on shares of Arista Networks in a report on Friday, September 13th. Bank of America upped their price objective on Arista Networks from $320.00 to $380.00 and gave the company a “buy” rating in a report on Thursday, June 20th. UBS Group increased their target price on Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Barclays increased their target price on Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, KeyCorp increased their target price on Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Arista Networks has a consensus rating of “Moderate Buy” and an average target price of $358.63.

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.