Insider Selling: Arista Networks, Inc. (NYSE:ANET) Insider Sells 416 Shares of Stock

Arista Networks, Inc. (NYSE:ANET) insider John F. Mccool sold 416 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $254.54, for a total transaction of $105,888.64. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Arista Networks Stock Performance

Shares of NYSE ANET traded up $12.52 during midday trading on Friday, hitting $274.38. 2,883,165 shares of the company’s stock traded hands, compared to its average volume of 2,455,522. Arista Networks, Inc. has a 1 year low of $131.68 and a 1 year high of $307.74. The stock has a market capitalization of $86.05 billion, a price-to-earnings ratio of 41.76, a price-to-earnings-growth ratio of 2.18 and a beta of 1.13. The firm has a fifty day moving average of $278.94 and a 200 day moving average of $248.71.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.70 by $0.38. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The business’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.25 EPS. On average, equities analysts anticipate that Arista Networks, Inc. will post 6.7 earnings per share for the current year.

Analyst Ratings Changes

ANET has been the subject of a number of research reports. Evercore ISI restated an “outperform” rating and set a $300.00 target price on shares of Arista Networks in a research note on Wednesday, March 27th. Needham & Company LLC restated a “buy” rating and set a $320.00 target price on shares of Arista Networks in a research note on Tuesday, February 13th. Piper Sandler lifted their price objective on shares of Arista Networks from $254.00 to $268.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 13th. JMP Securities reiterated a “market outperform” rating and issued a $325.00 price objective on shares of Arista Networks in a research note on Tuesday, February 13th. Finally, Melius Research upgraded shares of Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 price objective for the company in a research note on Monday, January 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $285.53.

Institutional Investors Weigh In On Arista Networks

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Arista Networks by 5.7% during the 4th quarter. Vanguard Group Inc. now owns 29,494,876 shares of the technology company’s stock valued at $6,946,338,000 after purchasing an additional 1,596,040 shares during the last quarter. FMR LLC increased its holdings in Arista Networks by 32.2% during the third quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock valued at $1,897,906,000 after buying an additional 2,515,864 shares during the period. Capital World Investors increased its holdings in Arista Networks by 0.5% during the fourth quarter. Capital World Investors now owns 10,136,348 shares of the technology company’s stock valued at $2,387,211,000 after buying an additional 55,312 shares during the period. WCM Investment Management LLC boosted its stake in Arista Networks by 0.8% in the first quarter. WCM Investment Management LLC now owns 3,049,416 shares of the technology company’s stock valued at $884,270,000 after acquiring an additional 25,196 shares in the last quarter. Finally, Norges Bank acquired a new stake in Arista Networks in the fourth quarter valued at approximately $586,051,000. 82.47% of the stock is owned by institutional investors.

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.