Insider Selling: Arista Networks, Inc. (NYSE:ANET) SVP Sells 51,848 Shares of Stock

Arista Networks, Inc. (NYSE:ANET) SVP Marc Taxay sold 51,848 shares of Arista Networks stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $88.59, for a total value of $4,593,214.32. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Arista Networks Stock Up 2.7 %

Shares of ANET stock opened at $87.83 on Thursday. The firm has a market cap of $110.76 billion, a price-to-earnings ratio of 39.56, a PEG ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.57. The stock has a 50-day moving average price of $110.13 and a 200 day moving average price of $102.14.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. The company had revenue of $1.93 billion during 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%. Sell-side analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arista Networks

Several institutional investors have recently modified their holdings of the stock. Zions Bancorporation N.A. grew its position in shares of Arista Networks by 6.9% during the 3rd quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock worth $160,000 after buying an additional 27 shares during the period. Intellectus Partners LLC grew its position in shares of Arista Networks by 1.4% in the 3rd quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock valued at $740,000 after purchasing an additional 27 shares during the period. Altman Advisors Inc. grew its position in shares of Arista Networks by 0.5% in the 3rd quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock valued at $2,250,000 after purchasing an additional 28 shares during the period. Beacon Financial Advisory LLC grew its position in shares of Arista Networks by 4.9% in the 3rd quarter. Beacon Financial Advisory LLC now owns 640 shares of the technology company’s stock valued at $246,000 after purchasing an additional 30 shares during the period. Finally, Forum Financial Management LP grew its position in shares of Arista Networks by 1.5% in the 3rd quarter. Forum Financial Management LP now owns 2,268 shares of the technology company’s stock valued at $871,000 after purchasing an additional 33 shares during the period. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. The Goldman Sachs Group lifted their price target on Arista Networks from $135.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Needham & Company LLC reaffirmed a “buy” rating and issued a $145.00 price target on shares of Arista Networks in a report on Wednesday, February 19th. Rosenblatt Securities reaffirmed a “sell” rating and issued a $80.00 price target on shares of Arista Networks in a report on Tuesday, February 18th. Barclays lifted their price target on Arista Networks from $125.00 to $126.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Finally, Wells Fargo & Company lifted their price target on Arista Networks from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.00.

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.