Arista Networks, Inc. (NYSE:ANET) Director Sells $511,660.00 in Stock

Arista Networks, Inc. (NYSE:ANET) Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $255.83, for a total transaction of $511,660.00. Following the transaction, the director now owns 56,946 shares of the company’s stock, valued at approximately $14,568,495.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Arista Networks Stock Performance

Shares of Arista Networks stock traded up $12.52 on Friday, hitting $274.38. The company’s stock had a trading volume of 2,883,165 shares, compared to its average volume of 2,455,522. The company has a market capitalization of $86.05 billion, a price-to-earnings ratio of 41.76, a price-to-earnings-growth ratio of 2.18 and a beta of 1.13. The firm has a fifty day moving average price of $278.94 and a 200-day moving average price of $248.71. Arista Networks, Inc. has a 1 year low of $131.68 and a 1 year high of $307.74.

Arista Networks (NYSE:ANET) last announced its earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.38. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the prior year, the company posted $1.25 EPS. The business’s quarterly revenue was up 20.8% on a year-over-year basis. As a group, analysts forecast that Arista Networks, Inc. will post 6.7 EPS for the current year.

Analyst Ratings Changes

ANET has been the topic of a number of recent analyst reports. Barclays upped their price target on Arista Networks from $272.00 to $311.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 13th. KeyCorp increased their price target on Arista Networks from $232.00 to $287.00 and gave the company an “overweight” rating in a research note on Thursday, January 18th. Evercore ISI restated an “outperform” rating and set a $300.00 price objective on shares of Arista Networks in a report on Wednesday, March 27th. Melius upgraded shares of Arista Networks from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. Finally, JPMorgan Chase & Co. upped their price target on shares of Arista Networks from $297.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, Arista Networks presently has an average rating of “Moderate Buy” and an average target price of $285.53.

Institutional Trading of Arista Networks

Large investors have recently bought and sold shares of the business. GSA Capital Partners LLP grew its position in shares of Arista Networks by 86.8% in the first quarter. GSA Capital Partners LLP now owns 2,968 shares of the technology company’s stock valued at $861,000 after purchasing an additional 1,379 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its stake in Arista Networks by 815.4% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 65,521 shares of the technology company’s stock worth $19,000,000 after buying an additional 58,363 shares during the last quarter. Central Pacific Bank Trust Division purchased a new stake in Arista Networks in the 1st quarter valued at $1,405,000. Absolute Capital Management LLC increased its stake in shares of Arista Networks by 211.1% in the 1st quarter. Absolute Capital Management LLC now owns 4,355 shares of the technology company’s stock worth $1,263,000 after acquiring an additional 2,955 shares during the last quarter. Finally, Financial Counselors Inc. purchased a new position in shares of Arista Networks during the 1st quarter worth $215,000. 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.