Arista Networks, Inc. (NYSE:ANET) Insider John F. Mccool Sells 112 Shares

Arista Networks, Inc. (NYSE:ANET) insider John F. Mccool sold 112 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $102.11, for a total value of $11,436.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Arista Networks Stock Down 4.9 %

ANET opened at $98.31 on Friday. The firm has a market capitalization of $123.97 billion, a P/E ratio of 44.28, a price-to-earnings-growth ratio of 3.27 and a beta of 1.09. The stock’s 50 day moving average price is $113.66 and its two-hundred day moving average price is $101.85. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.57.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. As a group, analysts anticipate that Arista Networks, Inc. will post 2.19 earnings per share for the current year.

Institutional Trading of Arista Networks

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ANET. Foundations Investment Advisors LLC lifted its position in shares of Arista Networks by 5.0% in the 3rd quarter. Foundations Investment Advisors LLC now owns 653 shares of the technology company’s stock worth $251,000 after acquiring an additional 31 shares during the period. Sequoia Financial Advisors LLC lifted its position in shares of Arista Networks by 5.6% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,917 shares of the technology company’s stock worth $2,271,000 after acquiring an additional 316 shares during the period. Waldron Private Wealth LLC bought a new stake in shares of Arista Networks in the 3rd quarter worth approximately $203,000. Private Advisor Group LLC lifted its position in shares of Arista Networks by 14.4% in the 3rd quarter. Private Advisor Group LLC now owns 14,868 shares of the technology company’s stock worth $5,706,000 after acquiring an additional 1,867 shares during the period. Finally, International Assets Investment Management LLC lifted its position in shares of Arista Networks by 39,841.1% in the 3rd quarter. International Assets Investment Management LLC now owns 875,110 shares of the technology company’s stock worth $3,358,850,000 after acquiring an additional 872,919 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on ANET. Citigroup upped their target price on Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $145.00 target price on shares of Arista Networks in a research report on Wednesday. Rosenblatt Securities reaffirmed a “sell” rating and issued a $80.00 target price on shares of Arista Networks in a research report on Tuesday, February 18th. Piper Sandler reaffirmed a “neutral” rating and issued a $108.00 target price (up from $106.00) on shares of Arista Networks in a research report on Wednesday. Finally, Wells Fargo & Company increased their price objective on Arista Networks from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $113.79.

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.