Arista Networks, Inc. (NYSE:ANET) Insider Andreas Bechtolsheim Sells 100,000 Shares

Arista Networks, Inc. (NYSE:ANETGet Rating) insider Andreas Bechtolsheim sold 100,000 shares of Arista Networks stock in a transaction that occurred on Thursday, May 26th. The stock was sold at an average price of $102.95, for a total transaction of $10,295,000.00. Following the completion of the sale, the insider now owns 46,520,000 shares of the company’s stock, valued at $4,789,234,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Andreas Bechtolsheim also recently made the following trade(s):

  • On Wednesday, March 9th, Andreas Bechtolsheim sold 100,000 shares of Arista Networks stock. The stock was sold at an average price of $119.85, for a total transaction of $11,985,000.00.
  • On Monday, March 7th, Andreas Bechtolsheim sold 100,000 shares of Arista Networks stock. The stock was sold at an average price of $115.74, for a total transaction of $11,574,000.00.
  • On Friday, March 4th, Andreas Bechtolsheim sold 100,000 shares of Arista Networks stock. The stock was sold at an average price of $118.51, for a total transaction of $11,851,000.00.
  • On Wednesday, March 2nd, Andreas Bechtolsheim sold 100,000 shares of Arista Networks stock. The stock was sold at an average price of $121.73, for a total transaction of $12,173,000.00.
  • On Monday, February 28th, Andreas Bechtolsheim sold 100,000 shares of Arista Networks stock. The stock was sold at an average price of $121.73, for a total transaction of $12,173,000.00.

Shares of ANET opened at $105.87 on Friday. The company’s fifty day moving average is $120.50 and its 200 day moving average is $127.98. Arista Networks, Inc. has a fifty-two week low of $82.94 and a fifty-two week high of $148.57. The stock has a market capitalization of $32.64 billion, a PE ratio of 36.26, a P/E/G ratio of 2.02 and a beta of 1.28.

Arista Networks (NYSE:ANETGet Rating) last announced its quarterly earnings results on Monday, May 2nd. The technology company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.03. Arista Networks had a net margin of 29.54% and a return on equity of 21.16%. During the same period in the previous year, the firm earned $0.57 EPS. Analysts anticipate that Arista Networks, Inc. will post 3.18 earnings per share for the current year.

A number of equities analysts recently issued reports on ANET shares. KeyCorp raised their price objective on shares of Arista Networks from $165.00 to $172.00 and gave the stock an “overweight” rating in a report on Tuesday, February 15th. Morgan Stanley lifted their price target on shares of Arista Networks from $138.00 to $144.00 and gave the company an “equal weight” rating in a report on Tuesday, February 15th. UBS Group lifted their price target on shares of Arista Networks from $133.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, February 15th. Citigroup lifted their price target on shares of Arista Networks from $150.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, February 15th. Finally, Barclays lowered their price target on shares of Arista Networks from $140.00 to $138.00 in a report on Tuesday, May 3rd. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $153.61.

Institutional investors and hedge funds have recently made changes to their positions in the stock. ACG Wealth increased its position in Arista Networks by 145.1% during the fourth quarter. ACG Wealth now owns 12,291 shares of the technology company’s stock valued at $1,767,000 after acquiring an additional 7,276 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in Arista Networks by 527.3% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 51,825 shares of the technology company’s stock valued at $7,450,000 after acquiring an additional 43,563 shares during the last quarter. Avantax Advisory Services Inc. bought a new position in Arista Networks during the fourth quarter valued at $1,847,000. JJJ Advisors Inc. increased its position in Arista Networks by 300.0% during the fourth quarter. JJJ Advisors Inc. now owns 196 shares of the technology company’s stock valued at $28,000 after acquiring an additional 147 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in Arista Networks by 326.5% during the fourth quarter. Van ECK Associates Corp now owns 21,795 shares of the technology company’s stock valued at $3,133,000 after acquiring an additional 16,685 shares during the last quarter. Institutional investors own 67.10% of the company’s stock.

About Arista Networks (Get Rating)

Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms.

Further Reading

Insider Buying and Selling by Quarter for Arista Networks (NYSE:ANET)

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