Arista Networks, Inc. (NYSE:ANET) Director Sells $896,160.00 in Stock

Arista Networks, Inc. (NYSE:ANET) Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $112.02, for a total value of $896,160.00. Following the completion of the transaction, the director now directly owns 155,784 shares of the company’s stock, valued at $17,450,923.68. The trade was a 4.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Arista Networks Stock Up 2.8 %

NYSE ANET opened at $118.52 on Friday. The business’s fifty day simple moving average is $112.87 and its 200-day simple moving average is $99.58. The firm has a market cap of $149.31 billion, a PE ratio of 56.98, a P/E/G ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.57.

Arista Networks (NYSE:ANET) last issued its earnings results on Thursday, November 7th. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the previous year, the firm earned $0.41 earnings per share. Arista Networks’s quarterly revenue was up 20.0% compared to the same quarter last year. Research analysts expect that Arista Networks, Inc. will post 1.97 EPS for the current year.

Institutional Trading of Arista Networks

Several institutional investors have recently made changes to their positions in ANET. Sequoia Financial Advisors LLC increased its stake in Arista Networks by 358.8% during the fourth quarter. Sequoia Financial Advisors LLC now owns 27,150 shares of the technology company’s stock worth $3,001,000 after acquiring an additional 21,233 shares during the last quarter. PFG Advisors increased its position in shares of Arista Networks by 360.7% during the 4th quarter. PFG Advisors now owns 4,930 shares of the technology company’s stock worth $545,000 after purchasing an additional 3,860 shares during the last quarter. Wealth High Governance Capital Ltda raised its holdings in Arista Networks by 65.3% in the 4th quarter. Wealth High Governance Capital Ltda now owns 49,600 shares of the technology company’s stock valued at $5,482,000 after buying an additional 19,600 shares during the period. Moors & Cabot Inc. lifted its position in Arista Networks by 319.3% in the fourth quarter. Moors & Cabot Inc. now owns 10,000 shares of the technology company’s stock valued at $1,105,000 after buying an additional 7,615 shares during the last quarter. Finally, Prosperity Wealth Management Inc. boosted its stake in Arista Networks by 258.2% during the fourth quarter. Prosperity Wealth Management Inc. now owns 19,516 shares of the technology company’s stock worth $2,157,000 after buying an additional 14,067 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Analyst Upgrades and Downgrades

ANET has been the subject of several research analyst reports. Evercore ISI upped their target price on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. The Goldman Sachs Group upped their price objective on shares of Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Barclays cut their target price on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. Rosenblatt Securities raised their price target on shares of Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a research note on Friday, November 8th. Finally, UBS Group boosted their price objective on Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $105.83.

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.