Arista Networks, Inc. (NYSE:ANET) Insider Sells $1,623,709.62 in Stock

Arista Networks, Inc. (NYSE:ANET) insider John F. Mccool sold 17,433 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $93.14, for a total transaction of $1,623,709.62. Following the transaction, the insider now directly owns 17,433 shares of the company’s stock, valued at $1,623,709.62. The trade was a 50.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

John F. Mccool also recently made the following trade(s):

• On Wednesday, February 19th, John F. Mccool sold 112 shares of Arista Networks stock. The shares were sold at an average price of $102.11, for a total transaction of $11,436.32.

Arista Networks Price Performance

ANET stock opened at $93.10 on Friday. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.57. The firm has a market cap of $117.41 billion, a PE ratio of 41.94, a P/E/G ratio of 3.10 and a beta of 1.09. The firm has a 50 day simple moving average of $111.80 and a 200 day simple moving average of $102.08.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. As a group, sell-side analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Institutional Investors Weigh In On Arista Networks

A number of large investors have recently made changes to their positions in ANET. Vanguard Group Inc. raised its holdings in shares of Arista Networks by 304.2% during the fourth quarter. Vanguard Group Inc. now owns 96,084,951 shares of the technology company’s stock valued at $10,620,270,000 after acquiring an additional 72,311,318 shares during the period. FMR LLC raised its holdings in shares of Arista Networks by 330.9% during the fourth quarter. FMR LLC now owns 57,648,129 shares of the technology company’s stock valued at $6,371,848,000 after acquiring an additional 44,269,572 shares during the period. Cresset Asset Management LLC raised its holdings in shares of Arista Networks by 277.5% during the fourth quarter. Cresset Asset Management LLC now owns 27,288,583 shares of the technology company’s stock valued at $3,016,207,000 after acquiring an additional 20,059,303 shares during the period. Geode Capital Management LLC raised its holdings in shares of Arista Networks by 311.6% during the fourth quarter. Geode Capital Management LLC now owns 24,165,355 shares of the technology company’s stock valued at $2,665,829,000 after acquiring an additional 18,293,874 shares during the period. Finally, Alliancebernstein L.P. raised its holdings in shares of Arista Networks by 218.5% during the fourth quarter. Alliancebernstein L.P. now owns 21,070,016 shares of the technology company’s stock valued at $2,328,869,000 after acquiring an additional 14,454,822 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on ANET. Morgan Stanley boosted their target price on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. UBS Group boosted their target price on shares of Arista Networks from $106.00 to $112.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Evercore ISI boosted their target price on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Piper Sandler reaffirmed a “neutral” rating and issued a $108.00 price target (up from $106.00) on shares of Arista Networks in a research note on Wednesday, February 19th. Finally, StockNews.com lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $113.79.

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.