Arista Networks, Inc. (NYSE:ANET) Director Charles H. Giancarlo Sells 8,000 Shares

Arista Networks, Inc. (NYSE:ANET) Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $89.03, for a total value of $712,240.00. Following the sale, the director now owns 147,784 shares of the company’s stock, valued at $13,157,209.52. The trade was a 5.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Arista Networks Stock Up 2.7 %

Shares of NYSE:ANET opened at $87.83 on Thursday. The firm has a market cap of $110.76 billion, a P/E ratio of 39.56, a P/E/G ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.57. The business has a fifty day simple moving average of $110.13 and a 200 day simple moving average of $102.14.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.02. The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. As a group, equities research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ANET. Vanguard Group Inc. raised its stake in Arista Networks by 304.2% during the fourth quarter. Vanguard Group Inc. now owns 96,084,951 shares of the technology company’s stock worth $10,620,270,000 after buying an additional 72,311,318 shares during the last quarter. FMR LLC grew its holdings in Arista Networks by 330.9% during the 4th quarter. FMR LLC now owns 57,648,129 shares of the technology company’s stock worth $6,371,848,000 after acquiring an additional 44,269,572 shares during the period. Cresset Asset Management LLC raised its position in shares of Arista Networks by 277.5% in the 4th quarter. Cresset Asset Management LLC now owns 27,288,583 shares of the technology company’s stock worth $3,016,207,000 after acquiring an additional 20,059,303 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Arista Networks by 311.6% in the 4th quarter. Geode Capital Management LLC now owns 24,165,355 shares of the technology company’s stock valued at $2,665,829,000 after purchasing an additional 18,293,874 shares during the period. Finally, Alliancebernstein L.P. boosted its position in shares of Arista Networks by 218.5% during the 4th quarter. Alliancebernstein L.P. now owns 21,070,016 shares of the technology company’s stock valued at $2,328,869,000 after purchasing an additional 14,454,822 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. StockNews.com downgraded Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Barclays increased their target price on shares of Arista Networks from $125.00 to $126.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Citigroup lifted their price target on shares of Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Evercore ISI increased their price objective on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Finally, Piper Sandler reaffirmed 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, February 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $114.00.

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.