Arista Networks, Inc. (NYSE:ANET) Director Sells $415,500.00 in Stock

Arista Networks, Inc. (NYSE:ANET) Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $207.75, for a total value of $415,500.00. Following the completion of the transaction, the director now directly owns 68,946 shares of the company’s stock, valued at approximately $14,323,531.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Arista Networks Price Performance

ANET opened at $212.49 on Monday. Arista Networks, Inc. has a 12 month low of $107.57 and a 12 month high of $214.26. The stock has a market cap of $66.11 billion, a P/E ratio of 35.42, a P/E/G ratio of 1.88 and a beta of 1.12. The stock’s 50 day moving average price is $189.72 and its 200 day moving average price is $171.29.

Institutional Trading of Arista Networks

Large investors have recently added to or reduced their stakes in the business. RFP Financial Group LLC increased its position in Arista Networks by 169.2% in the 2nd quarter. RFP Financial Group LLC now owns 175 shares of the technology company’s stock valued at $28,000 after acquiring an additional 110 shares during the period. Larson Financial Group LLC acquired a new position in shares of Arista Networks during the 3rd quarter valued at $28,000. Hollencrest Capital Management acquired a new position in shares of Arista Networks during the 1st quarter valued at $30,000. TFC Financial Management Inc. increased its position in shares of Arista Networks by 131.0% during the 1st quarter. TFC Financial Management Inc. now owns 194 shares of the technology company’s stock valued at $33,000 after purchasing an additional 110 shares during the period. Finally, BluePath Capital Management LLC acquired a new position in shares of Arista Networks during the 3rd quarter valued at $33,000. 67.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on ANET. Needham & Company LLC increased their target price on Arista Networks from $210.00 to $215.00 and gave the stock a “buy” rating in a report on Tuesday, October 31st. JMP Securities increased their target price on Arista Networks from $200.00 to $215.00 and gave the stock a “market outperform” rating in a report on Tuesday, October 31st. Morgan Stanley raised Arista Networks from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $185.00 to $220.00 in a report on Tuesday, October 31st. Piper Sandler downgraded Arista Networks from an “overweight” rating to a “neutral” rating and set a $190.00 target price on the stock. in a report on Wednesday, October 11th. Finally, Citigroup raised Arista Networks from a “neutral” rating to a “buy” rating and increased their target price for the stock from $177.00 to $220.00 in a report on Thursday, August 31st. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $210.72.

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.