Arista Networks, Inc. (NYSE:ANET) Director Sells $20,331.36 in Stock

Arista Networks, Inc. (NYSE:ANET) Director Yvonne Wassenaar sold 168 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $121.02, for a total transaction of $20,331.36. Following the sale, the director now directly owns 13,428 shares in the company, valued at approximately $1,625,056.56. The trade was a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Arista Networks Price Performance

Shares of NYSE ANET traded down $0.86 during mid-day trading on Thursday, hitting $128.96. The company had a trading volume of 5,855,431 shares, compared to its average volume of 6,453,973. The company has a market capitalization of $162.45 billion, a PE ratio of 62.00, a price-to-earnings-growth ratio of 3.26 and a beta of 1.08. The business’s 50-day simple moving average is $109.32 and its 200 day simple moving average is $97.69. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $131.18.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Thursday, November 7th. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.08. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter last year, the business posted $0.41 EPS. The business’s quarterly revenue was up 20.0% compared to the same quarter last year. On average, analysts expect that Arista Networks, Inc. will post 1.97 EPS for the current year.

Wall Street Analysts Forecast Growth

ANET has been the topic of a number of recent analyst reports. UBS Group increased their price target on Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Evercore ISI increased their target price on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. StockNews.com lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Piper Sandler reiterated a “neutral” rating and issued a $105.25 target price (up previously from $86.25) on shares of Arista Networks in a research report on Friday, November 8th. Finally, Wells Fargo & Company upped their price target on shares of Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $105.83.

Institutional Investors Weigh In On Arista Networks

A number of large investors have recently modified their holdings of the company. Anchor Investment Management LLC acquired a new stake in Arista Networks during the 2nd quarter worth $35,000. MidAtlantic Capital Management Inc. purchased a new position in Arista Networks during the 3rd quarter worth approximately $44,000. HM Payson & Co. increased its stake in Arista Networks by 28.2% in the third quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock valued at $51,000 after purchasing an additional 29 shares during the period. True Wealth Design LLC boosted its stake in shares of Arista Networks by 2,133.3% during the third quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock worth $51,000 after buying an additional 128 shares during the period. Finally, ORG Partners LLC grew its holdings in shares of Arista Networks by 186.0% during the third quarter. ORG Partners LLC now owns 143 shares of the technology company’s stock worth $55,000 after buying an additional 93 shares during the last quarter. 82.47% of the stock is owned by hedge funds and other 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.