Arista Networks, Inc. (NYSE:ANET – Get Rating) – Stock analysts at William Blair increased their FY2022 earnings estimates for Arista Networks in a research report issued to clients and investors on Tuesday, August 2nd. William Blair analyst J. Ader now anticipates that the technology company will post earnings per share of $3.48 for the year, up from their previous estimate of $3.13. The consensus estimate for Arista Networks’ current full-year earnings is $3.18 per share.
Arista Networks (NYSE:ANET – Get Rating) last released its quarterly earnings results on Monday, August 1st. The technology company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.30. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $979.66 million. Arista Networks had a net margin of 29.55% and a return on equity of 24.03%. The company’s revenue for the quarter was up 48.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.56 earnings per share.
Arista Networks Stock Up 1.1 %
ANET opened at $123.06 on Thursday. Arista Networks has a twelve month low of $85.18 and a twelve month high of $148.57. The company has a fifty day moving average of $101.50 and a 200-day moving average of $114.69. The stock has a market cap of $37.93 billion, a PE ratio of 37.95, a price-to-earnings-growth ratio of 1.98 and a beta of 1.35.
Institutional Trading of Arista Networks
Hedge funds and other institutional investors have recently bought and sold shares of the company. Asset Dedication LLC bought a new position in shares of Arista Networks in the 1st quarter worth $25,000. Riverview Trust Co bought a new position in shares of Arista Networks in the 1st quarter worth $26,000. JJJ Advisors Inc. increased its holdings in shares of Arista Networks by 300.0% in the 4th quarter. JJJ Advisors Inc. now owns 196 shares of the technology company’s stock worth $28,000 after buying an additional 147 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Arista Networks by 300.0% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 200 shares of the technology company’s stock worth $29,000 after buying an additional 150 shares during the last quarter. Finally, Addison Advisors LLC bought a new position in shares of Arista Networks in the 1st quarter worth $28,000. Institutional investors own 67.10% of the company’s stock.
Insider Buying and Selling at Arista Networks
In other Arista Networks news, Director Charles H. Giancarlo sold 6,660 shares of the business’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $117.03, for a total value of $779,419.80. Following the transaction, the director now directly owns 98,946 shares in the company, valued at $11,579,650.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, May 13th. The shares were sold at an average price of $107.74, for a total transaction of $2,154,800.00. Following the sale, the senior vice president now directly owns 29,367 shares in the company, valued at approximately $3,164,000.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles H. Giancarlo sold 6,660 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $117.03, for a total transaction of $779,419.80. Following the sale, the director now owns 98,946 shares in the company, valued at $11,579,650.38. The disclosure for this sale can be found here. Insiders have sold a total of 530,320 shares of company stock worth $54,800,753 over the last three months. 19.59% of the stock is currently owned by insiders.
About Arista Networks
Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms.
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