Arista Networks, Inc. (NYSE:ANET) Director Sells $102,187.08 in Stock

Arista Networks, Inc. (NYSE:ANET - Get Free Report) Director Kelly Bodnar Battles sold 1,492 shares of the firm's stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $68.49, for a total value of $102,187.08. Following the completion of the transaction, the director now owns 7,480 shares in the company, valued at approximately $512,305.20. This trade represents a 16.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, February 14th, Kelly Bodnar Battles sold 1,488 shares of Arista Networks stock. The stock was sold at an average price of $107.13, for a total transaction of $159,409.44.

Arista Networks Stock Performance

Shares of Arista Networks stock traded up $2.67 on Friday, reaching $77.96. 12,456,039 shares of the company were exchanged, compared to its average volume of 9,102,145. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $133.58. The firm has a market cap of $97.89 billion, a price-to-earnings ratio of 35.12, a P/E/G ratio of 3.10 and a beta of 1.30. The company's 50-day moving average is $80.57 and its two-hundred day moving average is $98.37.

Arista Networks (NYSE:ANET - Get Free Report) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The company had revenue of $1.93 billion for the quarter, compared to analysts' expectations of $1.90 billion. As a group, sell-side analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Hedge Funds Weigh In On Arista Networks

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Morgan Stanley lowered their price target on Arista Networks from $118.00 to $73.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Citigroup dropped their target price on Arista Networks from $121.00 to $92.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Barclays restated an "overweight" rating on shares of Arista Networks in a report on Monday, March 3rd. The Goldman Sachs Group reiterated a "buy" rating on shares of Arista Networks in a research note on Monday, March 3rd. Finally, Rosenblatt Securities lowered their price target on shares of Arista Networks from $85.00 to $55.00 and set a "sell" rating for the company in a report on Tuesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $104.29.

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.