Charles Giancarlo Sells 8,000 Shares of Arista Networks (NYSE:ANET) Stock

Arista Networks, Inc. (NYSE:ANET) Director Charles Giancarlo sold 8,000 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $133.79, for a total value of $1,070,320.00. Following the transaction, the director owned 17,784 shares of the company’s stock, valued at $2,379,321.36. This represents a 31.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Arista Networks Trading Down 3.3%

ANET traded down $4.56 during trading hours on Tuesday, hitting $132.63. The company’s stock had a trading volume of 7,999,749 shares, compared to its average volume of 7,465,994. The stock has a market cap of $167.02 billion, a price-to-earnings ratio of 50.43, a P/E/G ratio of 2.25 and a beta of 1.41. The business’s 50-day moving average price is $132.94 and its 200-day moving average price is $131.17. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $164.94.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. The business had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.26 billion. Arista Networks had a net margin of 39.73% and a return on equity of 30.28%. The business’s revenue was up 27.5% on a year-over-year basis. During the same period last year, the company posted $2.40 EPS. On average, analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Institutional Trading of Arista Networks

Large investors have recently made changes to their positions in the stock. RDA Financial Network lifted its holdings in Arista Networks by 5.6% during the 4th quarter. RDA Financial Network now owns 18,262 shares of the technology company’s stock valued at $2,393,000 after buying an additional 962 shares in the last quarter. Clark Financial Services Group Inc. BD increased its position in shares of Arista Networks by 2.2% during the fourth quarter. Clark Financial Services Group Inc. BD now owns 3,776 shares of the technology company’s stock worth $518,000 after acquiring an additional 80 shares during the period. Fulcrum Equity Management raised its stake in shares of Arista Networks by 93.0% during the fourth quarter. Fulcrum Equity Management now owns 3,061 shares of the technology company’s stock valued at $401,000 after acquiring an additional 1,475 shares in the last quarter. Avior Wealth Management LLC raised its stake in shares of Arista Networks by 35.0% during the fourth quarter. Avior Wealth Management LLC now owns 1,992 shares of the technology company’s stock valued at $261,000 after acquiring an additional 516 shares in the last quarter. Finally, Board of the Pension Protection Fund purchased a new stake in shares of Arista Networks in the fourth quarter valued at approximately $26,000. 82.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ANET shares. BNP Paribas Exane raised Arista Networks from a “neutral” rating to an “outperform” rating and set a $172.00 target price on the stock in a research report on Thursday, September 25th. Citigroup lifted their price objective on shares of Arista Networks from $136.00 to $176.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Rosenblatt Securities reiterated a “neutral” rating and set a $140.00 price objective on shares of Arista Networks in a research report on Monday, November 24th. Zacks Research lowered shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Finally, William Blair reaffirmed an “outperform” rating on shares of Arista Networks in a research note on Friday, September 12th. Eighteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and an average price target of $164.44.

About Arista Networks

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.