Arista Networks, Inc. (NYSE:ANET) Director Charles H. Giancarlo Sells 8,000 Shares

Arista Networks, Inc. (NYSE:ANET) Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $77.55, for a total transaction of $620,400.00. Following the transaction, the director now owns 139,784 shares in the company, valued at approximately $10,840,249.20. This trade represents a 5.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Arista Networks Stock Performance

Shares of ANET opened at $64.28 on Friday. The firm has a market capitalization of $81.07 billion, a PE ratio of 28.96, a P/E/G ratio of 3.10 and a beta of 1.30. The stock has a 50 day simple moving average of $94.01 and a 200 day simple moving average of $101.29. Arista Networks, Inc. has a 52-week low of $60.08 and a 52-week high of $133.58.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. Equities research analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Institutional Trading of Arista Networks

A number of institutional investors have recently modified their holdings of ANET. Vanguard Group Inc. lifted its stake in Arista Networks by 304.2% in the 4th 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 in the last quarter. FMR LLC lifted its position in shares of Arista Networks by 330.9% in the fourth quarter. FMR LLC now owns 57,648,129 shares of the technology company’s stock worth $6,371,848,000 after purchasing an additional 44,269,572 shares in the last quarter. Cresset Asset Management LLC boosted its holdings in 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 worth $3,016,207,000 after purchasing an additional 20,059,303 shares during the last quarter. Geode Capital Management LLC grew its position in Arista Networks by 311.6% in 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 purchasing an additional 18,293,874 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its position in Arista Networks by 218.5% during the 4th quarter. Alliancebernstein L.P. now owns 21,070,016 shares of the technology company’s stock worth $2,328,869,000 after buying an additional 14,454,822 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ANET has been the subject of a number of research analyst reports. UBS Group raised shares of Arista Networks from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $112.00 to $115.00 in a research note on Wednesday, March 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $145.00 price objective on shares of Arista Networks in a report on Wednesday, February 19th. Evercore ISI lifted their target price on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Arista Networks in a research note on Monday, March 3rd. Finally, Erste Group Bank cut Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, March 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $114.00.

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.