Arista Networks (NYSE:ANET) Director Sells $1,123,440.00 in Stock

Arista Networks, Inc. (NYSE:ANET) Director Charles Giancarlo sold 8,000 shares of Arista Networks stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $140.43, for a total value of $1,123,440.00. Following the transaction, the director owned 9,784 shares in the company, valued at approximately $1,373,967.12. This represents a 44.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Arista Networks Price Performance

NYSE ANET opened at $137.50 on Friday. The firm has a market cap of $173.15 billion, a P/E ratio of 52.28, a P/E/G ratio of 2.17 and a beta of 1.42. The stock’s 50-day moving average is $131.78 and its 200-day moving average is $135.93. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $164.94.

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

Analyst Ratings Changes

A number of brokerages recently commented on ANET. Morgan Stanley dropped their price objective on shares of Arista Networks from $171.00 to $159.00 and set an “overweight” rating on the stock in a report on Wednesday, December 17th. Piper Sandler upgraded Arista Networks from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $145.00 to $159.00 in a report on Monday, January 5th. Rosenblatt Securities reiterated a “neutral” rating and set a $140.00 price objective on shares of Arista Networks in a report on Monday, November 24th. Erste Group Bank lowered Arista Networks from a “buy” rating to a “hold” rating in a research report on Monday, November 10th. Finally, UBS Group reaffirmed a “buy” rating and set a $155.00 price target on shares of Arista Networks in a research report on Wednesday, December 3rd. Seventeen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Arista Networks presently has an average rating of “Moderate Buy” and a consensus price target of $164.44.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ANET. Bare Financial Services Inc raised its stake in Arista Networks by 2,118.2% in the second quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock valued at $25,000 after buying an additional 233 shares during the period. Board of the Pension Protection Fund bought a new stake in Arista Networks in the 4th quarter valued at $26,000. AdvisorNet Financial Inc boosted its position in Arista Networks by 56.7% during the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after purchasing an additional 72 shares during the period. Knuff & Co LLC acquired a new position in shares of Arista Networks in the third quarter valued at $29,000. Finally, Ameliora Wealth Management Ltd. bought a new position in shares of Arista Networks in the fourth quarter valued at about $30,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Arista Networks Company Profile

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.