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 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 completion of the transaction, the director now owns 163,784 shares of the company’s stock, valued at $18,263,553.84. The trade was a 4.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Arista Networks Stock Up 3.2 %

NYSE:ANET opened at $118.94 on Tuesday. Arista Networks, Inc. has a twelve month low of $58.75 and a twelve month high of $119.53. The company has a fifty day moving average of $105.14 and a 200-day moving average of $95.19. The firm has a market capitalization of $149.84 billion, a P/E ratio of 57.18, a P/E/G ratio of 3.21 and a beta of 1.08.

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

Analyst Ratings Changes

Several equities analysts have commented on the company. Morgan Stanley increased their target price on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Citigroup raised their price objective on shares of Arista Networks from $96.25 to $115.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Piper Sandler reissued a “neutral” rating and set a $105.25 target price (up from $86.25) on shares of Arista Networks in a report on Friday, November 8th. StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Finally, The Goldman Sachs Group boosted their price objective on shares of Arista Networks from $97.50 to $107.50 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and an average target price of $100.70.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GW Henssler & Associates Ltd. raised its position in shares of Arista Networks by 3.6% during the third quarter. GW Henssler & Associates Ltd. now owns 63,244 shares of the technology company’s stock worth $24,274,000 after purchasing an additional 2,219 shares during the period. Deepwater Asset Management LLC bought a new stake in Arista Networks during the 2nd quarter valued at $15,084,000. Sumitomo Life Insurance Co. raised its holdings in Arista Networks by 69.8% during the third quarter. Sumitomo Life Insurance Co. now owns 9,028 shares of the technology company’s stock worth $3,465,000 after buying an additional 3,711 shares during the last quarter. Walkner Condon Financial Advisors LLC bought a new position in shares of Arista Networks in the third quarter valued at $2,318,000. Finally, Greenleaf Trust grew its holdings in shares of Arista Networks by 20.1% during the third quarter. Greenleaf Trust now owns 13,224 shares of the technology company’s stock valued at $5,076,000 after buying an additional 2,216 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

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.