Insider Selling: Arista Networks, Inc. (NYSE:ANET) Insider Sells 416 Shares of Stock

Arista Networks, Inc. (NYSE:ANET) insider John F. Mccool sold 416 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $254.54, for a total transaction of $105,888.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Arista Networks Trading Up 4.8 %

Arista Networks stock opened at $274.40 on Friday. The stock has a market cap of $85.79 billion, a price-to-earnings ratio of 41.77, a PEG ratio of 2.24 and a beta of 1.13. The company’s 50-day moving average price is $279.07 and its two-hundred day moving average price is $249.25. Arista Networks, Inc. has a 52 week low of $131.68 and a 52 week high of $307.74.

Arista Networks (NYSE:ANET) last released its earnings results on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.70 by $0.38. The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. Arista Networks’s quarterly revenue was up 20.8% on a year-over-year basis. During the same quarter last year, the company earned $1.25 EPS. Research analysts expect that Arista Networks, Inc. will post 6.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arista Networks

Several large investors have recently bought and sold shares of the stock. AXQ Capital LP acquired a new position in shares of Arista Networks in the 3rd quarter worth approximately $791,000. Advisor Resource Council grew its stake in shares of Arista Networks by 507.9% in the 4th quarter. Advisor Resource Council now owns 7,021 shares of the technology company’s stock worth $1,653,000 after purchasing an additional 5,866 shares during the last quarter. Bleakley Financial Group LLC grew its stake in shares of Arista Networks by 4.6% in the 4th quarter. Bleakley Financial Group LLC now owns 4,445 shares of the technology company’s stock worth $1,047,000 after purchasing an additional 194 shares during the last quarter. WCM Investment Management LLC grew its stake in shares of Arista Networks by 0.5% in the 4th quarter. WCM Investment Management LLC now owns 3,024,220 shares of the technology company’s stock worth $716,649,000 after purchasing an additional 16,081 shares during the last quarter. Finally, abrdn plc grew its stake in shares of Arista Networks by 62.7% in the 4th quarter. abrdn plc now owns 113,851 shares of the technology company’s stock worth $26,813,000 after purchasing an additional 43,889 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on ANET shares. Evercore ISI reiterated an “outperform” rating and set a $300.00 price objective on shares of Arista Networks in a research note on Wednesday, March 27th. Needham & Company LLC restated a “buy” rating and issued a $320.00 price target on shares of Arista Networks in a research report on Tuesday, February 13th. Barclays raised their price target on shares of Arista Networks from $272.00 to $311.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 13th. Rosenblatt Securities restated a “sell” rating and issued a $210.00 price target on shares of Arista Networks in a research report on Friday, April 12th. Finally, Oppenheimer restated a “market perform” rating on shares of Arista Networks in a research report on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $285.53.

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.