Marc Taxay Sells 1,044 Shares of Arista Networks, Inc. (NYSE:ANET) Stock

Arista Networks, Inc. (NYSE:ANET) SVP Marc Taxay sold 1,044 shares of Arista Networks stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $254.54, for a total transaction of $265,739.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Marc Taxay also recently made the following trade(s):

• On Monday, April 1st, Marc Taxay sold 1,040 shares of Arista Networks stock. The shares were sold at an average price of $292.28, for a total transaction of $303,971.20.
• On Friday, March 1st, Marc Taxay sold 11,650 shares of Arista Networks stock. The shares were sold at an average price of $286.28, for a total value of $3,335,162.00.

Arista Networks Price Performance

NYSE ANET opened at $274.40 on Friday. The stock has a market capitalization of $85.79 billion, a PE ratio of 41.77, a PEG ratio of 2.24 and a beta of 1.13. Arista Networks, Inc. has a 1 year low of $131.68 and a 1 year high of $307.74. The business’s 50-day moving average is $279.07 and its 200 day moving average is $249.25.

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

Hedge Funds Weigh In On Arista Networks

Several hedge funds and other institutional investors have recently modified their holdings of ANET. FMR LLC boosted its position in Arista Networks by 32.2% during the 3rd quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock valued at $1,897,906,000 after acquiring an additional 2,515,864 shares in the last quarter. Norges Bank purchased a new position in shares of Arista Networks in the 4th quarter valued at approximately $586,051,000. Vanguard Group Inc. grew its stake in Arista Networks by 5.7% in the fourth quarter. Vanguard Group Inc. now owns 29,494,876 shares of the technology company’s stock worth $6,946,338,000 after purchasing an additional 1,596,040 shares during the period. Schroder Investment Management Group raised its holdings in Arista Networks by 439.3% in the third quarter. Schroder Investment Management Group now owns 1,259,305 shares of the technology company’s stock worth $231,624,000 after purchasing an additional 1,025,815 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in Arista Networks by 25,188.0% during the fourth quarter. International Assets Investment Management LLC now owns 613,739 shares of the technology company’s stock valued at $1,445,420,000 after buying an additional 611,312 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Piper Sandler upped their target price on shares of Arista Networks from $254.00 to $268.00 and gave the stock a “neutral” rating in a report on Tuesday, February 13th. Barclays lifted their price objective on Arista Networks from $272.00 to $311.00 and gave the company an “overweight” rating in a research note on Tuesday, February 13th. Rosenblatt Securities reaffirmed a “sell” rating and issued a $210.00 price target on shares of Arista Networks in a report on Friday, April 12th. JPMorgan Chase & Co. boosted their price objective on Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Finally, Melius raised shares of Arista Networks from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $285.53.

Arista Networks Company Profile

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.