Arista Networks, Inc. (NYSE:ANET) Director Sells $159,409.44 in Stock

Arista Networks, Inc. (NYSE:ANET) Director Kelly Bodnar Battles sold 1,488 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $107.13, for a total value of $159,409.44. Following the sale, the director now owns 8,128 shares of the company’s stock, valued at $870,752.64. The trade was a 15.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Arista Networks Stock Down 0.4 %

Shares of Arista Networks stock opened at $103.47 on Friday. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.57. The stock has a 50 day moving average price of $114.01 and a two-hundred day moving average price of $101.55. The stock has a market capitalization of $130.35 billion, a P/E ratio of 46.61, a PEG ratio of 2.98 and a beta of 1.09.

Arista Networks (NYSE:ANET) last posted 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 business 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 31.22%. Sell-side analysts anticipate that Arista Networks, Inc. will post 2.18 earnings per share for the current year.

Hedge Funds Weigh In On Arista Networks

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Stock Yards Bank & Trust Co. acquired a new stake in Arista Networks in the 4th quarter worth $242,000. Silver Oak Securities Incorporated lifted its stake in shares of Arista Networks by 395.8% in the fourth quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company’s stock valued at $2,072,000 after buying an additional 14,843 shares during the period. Proactive Wealth Strategies LLC grew its position in Arista Networks by 387.6% during the fourth quarter. Proactive Wealth Strategies LLC now owns 6,120 shares of the technology company’s stock worth $676,000 after buying an additional 4,865 shares in the last quarter. Chevy Chase Trust Holdings LLC increased its stake in Arista Networks by 292.7% during the fourth quarter. Chevy Chase Trust Holdings LLC now owns 602,541 shares of the technology company’s stock valued at $66,599,000 after acquiring an additional 449,088 shares during the period. Finally, 5T Wealth LLC acquired a new position in Arista Networks in the 4th quarter valued at approximately $1,046,000. Institutional investors own 82.47% of the company’s stock.

Analysts Set New Price Targets

ANET has been the subject of a number of research analyst reports. Morgan Stanley increased their price target on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Needham & Company LLC reiterated a “buy” rating and issued a $145.00 target price on shares of Arista Networks in a research report on Wednesday. Piper Sandler reissued a “neutral” rating and set a $108.00 target price (up previously from $106.00) on shares of Arista Networks in a research note on Wednesday. Barclays upped their price target on shares of Arista Networks from $125.00 to $126.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Rosenblatt Securities reissued a “sell” rating and set a $80.00 price objective on shares of Arista Networks in a research report on Tuesday. One 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. Based on data from MarketBeat.com, Arista Networks presently has an average rating of “Moderate Buy” and a consensus price target of $113.79.

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.