Marc Taxay Sells 51,848 Shares of Arista Networks, Inc. (NYSE:ANET) Stock

Arista Networks, Inc. (NYSE:ANET - Get Free Report) SVP Marc Taxay sold 51,848 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $88.59, for a total transaction of $4,593,214.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Arista Networks Price Performance

Arista Networks stock traded up $2.31 during midday trading on Wednesday, reaching $87.83. The company had a trading volume of 10,263,882 shares, compared to its average volume of 10,978,523. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.57. The firm's fifty day simple moving average is $110.13 and its 200-day simple moving average is $102.14. The company has a market capitalization 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 (NYSE:ANET - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. On average, analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ANET has been the topic of several analyst reports. Piper Sandler reaffirmed a "neutral" rating and set a $108.00 price target (up from $106.00) on shares of Arista Networks in a research report on Wednesday, February 19th. Barclays raised their target price on Arista Networks from $125.00 to $126.00 and gave the stock an "overweight" rating in a report on Wednesday, February 19th. UBS Group raised Arista Networks from a "neutral" rating to a "buy" rating and boosted their price target for the company from $112.00 to $115.00 in a report on Wednesday. StockNews.com cut shares of Arista Networks from a "buy" rating to a "hold" rating in a research note on Thursday, December 12th. Finally, Wells Fargo & Company boosted their target price on shares of Arista Networks from $115.00 to $125.00 and gave the company an "overweight" rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Arista Networks has a consensus rating of "Moderate Buy" and a consensus price target of $114.00.

Institutional Investors Weigh In On Arista Networks

Large investors have recently modified their holdings of the business. Stock Yards Bank & Trust Co. purchased a new stake in Arista Networks during the 4th quarter valued at about $242,000. GHE LLC boosted its holdings in shares of Arista Networks by 319.0% during the 4th quarter. GHE LLC now owns 28,368 shares of the technology company's stock worth $3,136,000 after purchasing an additional 21,597 shares during the last quarter. Colonial River Investments LLC grew its position in shares of Arista Networks by 327.6% in the fourth quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company's stock valued at $1,077,000 after purchasing an additional 7,466 shares in the last quarter. Unified Investment Management purchased a new position in Arista Networks during the fourth quarter worth approximately $630,000. Finally, Silver Oak Securities Incorporated boosted its stake in Arista Networks by 395.8% during the fourth quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company's stock worth $2,072,000 after buying an additional 14,843 shares during the last quarter. Hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.