Insider Selling: Arista Networks, Inc. (NYSE:ANET) Director Sells 8,000 Shares of Stock

Arista Networks, Inc. (NYSE:ANET - Get Free Report) Director Charles H. Giancarlo sold 8,000 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $89.03, for a total transaction of $712,240.00. Following the sale, the director now directly owns 147,784 shares in the company, valued at approximately $13,157,209.52. This trade represents a 5.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Arista Networks Trading Up 2.7 %

NYSE:ANET traded up $2.31 during mid-day trading on Wednesday, hitting $87.83. The company's stock had a trading volume of 10,263,882 shares, compared to its average volume of 10,978,523. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.57. The company has a market capitalization of $110.76 billion, a price-to-earnings ratio of 39.56, a P/E/G ratio of 3.10 and a beta of 1.09. The stock has a fifty day moving average of $110.13 and a 200-day moving average of $102.14.

Arista Networks (NYSE:ANET - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.02. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. On average, equities analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Institutional Trading of Arista Networks

Several hedge funds have recently modified their holdings of the company. MidAtlantic Capital Management Inc. bought a new stake in shares of Arista Networks during the third quarter valued at approximately $44,000. True Wealth Design LLC grew 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 valued at $51,000 after purchasing an additional 128 shares during the last quarter. Anchor Investment Management LLC grew its stake in shares of Arista Networks by 35.0% during the third quarter. Anchor Investment Management LLC now owns 135 shares of the technology company's stock valued at $52,000 after purchasing an additional 35 shares during the last quarter. Transcendent Capital Group LLC grew its stake in shares of Arista Networks by 75.0% during the third quarter. Transcendent Capital Group LLC now owns 175 shares of the technology company's stock valued at $67,000 after purchasing an additional 75 shares during the last quarter. Finally, Meeder Asset Management Inc. grew its stake in shares of Arista Networks by 52.5% during the third quarter. Meeder Asset Management Inc. now owns 183 shares of the technology company's stock valued at $70,000 after purchasing an additional 63 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on ANET shares. Evercore ISI boosted their target price 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. StockNews.com cut shares of Arista Networks from a "buy" rating to a "hold" rating in a report on Thursday, December 12th. Morgan Stanley upped their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the stock an "overweight" rating in a report on Tuesday, December 17th. Citigroup upped their price objective on shares of Arista Networks from $115.00 to $121.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. Finally, The Goldman Sachs Group upped their price objective on shares of Arista Networks from $135.00 to $145.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the stock. According to 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.

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