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 Arista Networks 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 sale, the director now owns 155,784 shares of the company’s stock, valued at approximately $17,450,923.68. This represents a 4.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Arista Networks Stock Performance

ANET opened at $115.43 on Thursday. The company has a market capitalization of $145.41 billion, a P/E ratio of 55.49, a PEG ratio of 3.10 and a beta of 1.09. The company has a 50-day moving average of $112.28 and a 200-day moving average of $99.36. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.57.

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. The firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. Arista Networks’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.41 earnings per share. As a group, sell-side analysts expect that Arista Networks, Inc. will post 1.97 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ANET. Wells Fargo & Company boosted their price objective on shares of Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Morgan Stanley increased their price target on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Rosenblatt Securities lifted their price objective on Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a research report on Friday, November 8th. Barclays decreased their price target on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. Finally, The Goldman Sachs Group raised their price target on shares of Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.83.

Institutional Trading of Arista Networks

Institutional investors have recently added to or reduced their stakes in the business. Czech National Bank raised its stake in Arista Networks by 8.5% during the third quarter. Czech National Bank now owns 52,476 shares of the technology company’s stock worth $20,141,000 after acquiring an additional 4,108 shares during the period. Diversified Trust Co boosted its position in Arista Networks by 87.1% during the 3rd quarter. Diversified Trust Co now owns 5,158 shares of the technology company’s stock valued at $1,980,000 after purchasing an additional 2,401 shares during the period. Chapin Davis Inc. acquired a new stake in Arista Networks in the third quarter worth $2,106,000. Kesler Norman & Wride LLC bought a new stake in Arista Networks in the third quarter valued at $1,544,000. Finally, Chesley Taft & Associates LLC bought a new position in shares of Arista Networks during the third quarter worth about $2,275,000. Institutional investors own 82.47% of the company’s stock.

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.