Arista Networks (NYSE:ANET) Shares Gap Down on Insider Selling

Arista Networks, Inc. (NYSE:ANET - Get Free Report) shares gapped down before the market opened on Wednesday after an insider sold shares in the company. The stock had previously closed at $111.06, but opened at $104.50. Arista Networks shares last traded at $103.30, with a volume of 4,416,701 shares traded.

Specifically, Director Kelly Bodnar Battles sold 1,488 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $107.13, for a total transaction of $159,409.44. Following the transaction, the director now owns 8,128 shares in the company, valued at approximately $870,752.64. This trade represents a 15.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Wall Street Analyst Weigh In

ANET has been the topic of a number of recent research reports. Wells Fargo & Company increased their target price on Arista Networks from $115.00 to $125.00 and gave the stock an "overweight" rating in a research note on Wednesday. The Goldman Sachs Group increased their target price on Arista Networks from $135.00 to $145.00 and gave the stock a "buy" rating in a research note on Wednesday. StockNews.com lowered Arista Networks from a "buy" rating to a "hold" rating in a research note on Thursday, December 12th. Piper Sandler reiterated 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. Finally, Needham & Company LLC restated a "buy" rating and set a $145.00 price objective on shares of Arista Networks in a research note on Wednesday. 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. According to MarketBeat.com, Arista Networks presently has a consensus rating of "Moderate Buy" and a consensus price target of $113.79.

Arista Networks Stock Performance

The company has a market cap of $125.19 billion, a price-to-earnings ratio of 44.76, a P/E/G ratio of 2.79 and a beta of 1.09. The company has a fifty day moving average of $113.94 and a two-hundred day moving average of $101.57.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings data 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. 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 the consensus estimate of $1.90 billion. Equities analysts expect that Arista Networks, Inc. will post 2.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ANET. Caitlin John LLC raised its position in Arista Networks by 174.7% during the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company's stock worth $26,000 after purchasing an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC raised its position in Arista Networks by 335.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock worth $27,000 after purchasing an additional 191 shares during the last quarter. Cranbrook Wealth Management LLC raised its position in Arista Networks by 300.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company's stock worth $29,000 after purchasing an additional 198 shares during the last quarter. Trust Co. of Vermont raised its position in Arista Networks by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company's stock worth $29,000 after purchasing an additional 198 shares during the last quarter. Finally, New Millennium Group LLC raised its position in Arista Networks by 300.0% during the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock worth $29,000 after purchasing an additional 195 shares during the last quarter. 82.47% of the stock is owned by institutional investors.

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.