Arista Networks, Inc. (NYSE:ANET) Director Sells $132,707.28 in Stock

Arista Networks, Inc. (NYSE:ANET) Director Kelly Bodnar Battles sold 372 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $356.74, for a total value of $132,707.28. Following the completion of the sale, the director now directly owns 2,565 shares in the company, valued at approximately $915,038.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Kelly Bodnar Battles also recently made the following trade(s):

• On Tuesday, August 6th, Kelly Bodnar Battles sold 216 shares of Arista Networks stock. The stock was sold at an average price of $324.02, for a total value of $69,988.32.

Arista Networks Stock Performance

ANET opened at $384.46 on Friday. The firm has a market cap of $120.48 billion, a price-to-earnings ratio of 53.55, a PEG ratio of 2.70 and a beta of 1.07. The firm’s 50-day simple moving average is $341.55 and its 200-day simple moving average is $316.46. Arista Networks, Inc. has a twelve month low of $168.25 and a twelve month high of $385.50.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.38. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The firm had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the prior year, the firm earned $1.41 earnings per share. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Arista Networks, Inc. will post 7.38 EPS for the current fiscal year.

Institutional Investors Weigh In On Arista Networks

Hedge funds and other institutional investors have recently bought and sold shares of the business. Benjamin Edwards Inc. acquired a new position in Arista Networks in the first quarter worth $26,000. Beacon Capital Management LLC raised its holdings in shares of Arista Networks by 500.0% in the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after buying an additional 65 shares during the last quarter. LGT Financial Advisors LLC acquired a new position in Arista Networks during the 2nd quarter worth about $27,000. Financial Synergies Wealth Advisors Inc. grew its holdings in Arista Networks by 872.7% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock worth $31,000 after acquiring an additional 96 shares during the last quarter. Finally, Byrne Asset Management LLC acquired a new stake in Arista Networks in the 2nd quarter valued at about $33,000. 82.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Jefferies Financial Group boosted their target price on shares of Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Barclays boosted their price objective on shares of Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. UBS Group upped their price objective on shares of Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. JPMorgan Chase & Co. lifted their target price on Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, Erste Group Bank restated a “buy” rating on shares of Arista Networks in a research note on Friday, June 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Arista Networks currently has an average rating of “Moderate Buy” and an average price target of $358.63.

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.