Arista Networks, Inc. (NYSE:ANET) COO Anshul Sadana Sells 43,225 Shares

Posted by Adam Dyson on Mar 18th, 2023

Arista Networks, Inc. (NYSE:ANET – Get Rating) COO Anshul Sadana sold 43,225 shares of Arista Networks stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $152.43, for a total value of $6,588,786.75. Following the completion of the transaction, the chief operating officer now directly owns 81,043 shares in the company, valued at $12,353,384.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Anshul Sadana also recently made the following trade(s):

On Thursday, March 9th, Anshul Sadana sold 10,000 shares of Arista Networks stock. The shares were sold at an average price of $150.03, for a total value of $1,500,300.00.

Arista Networks Trading Up 0.4 %

Shares of Arista Networks stock opened at $163.26 on Friday. The stock has a fifty day simple moving average of $133.22 and a 200 day simple moving average of $125.41. Arista Networks, Inc. has a 12-month low of $89.11 and a 12-month high of $164.26. The company has a market capitalization of $50.02 billion, a P/E ratio of 38.23, a price-to-earnings-growth ratio of 2.10 and a beta of 1.24.

Arista Networks (NYSE:ANET – Get Rating) last announced its quarterly earnings results on Monday, February 13th. The technology company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.20. Arista Networks had a return on equity of 30.00% and a net margin of 30.87%. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the prior year, the company posted $0.66 earnings per share. Arista Networks’s revenue was up 54.7% compared to the same quarter last year. On average, analysts predict that Arista Networks, Inc. will post 5.16 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ANET. Piper Sandler dropped their price target on Arista Networks from $164.00 to $155.00 in a research note on Tuesday, January 17th. JMP Securities boosted their price target on Arista Networks from $135.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, February 14th. Cowen boosted their price target on Arista Networks from $203.00 to $212.00 and gave the company an “outperform” rating in a research note on Tuesday, December 13th. Cowen boosted their price target on Arista Networks from $212.00 to $225.00 and gave the company an “outperform” rating in a research note on Tuesday, February 14th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $175.00 price target on shares of Arista Networks in a research note on Tuesday, February 14th. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $173.89.

Institutional Investors Weigh In On Arista Networks

Several institutional investors have recently bought and sold shares of ANET. Trifecta Capital Advisors LLC bought a new stake in Arista Networks during the fourth quarter worth $27,000. Janiczek Wealth Management LLC grew its stake in Arista Networks by 73.0% in the 3rd quarter. Janiczek Wealth Management LLC now owns 275 shares of the technology company’s stock valued at $30,000 after purchasing an additional 116 shares during the period. MV Capital Management Inc. grew its stake in Arista Networks by 172.7% in the 3rd quarter. MV Capital Management Inc. now owns 270 shares of the technology company’s stock valued at $30,000 after purchasing an additional 171 shares during the period. TCI Wealth Advisors Inc. grew its stake in Arista Networks by 126.7% in the 4th quarter. TCI Wealth Advisors Inc. now owns 297 shares of the technology company’s stock valued at $36,000 after purchasing an additional 166 shares during the period. Finally, Coppell Advisory Solutions Corp. bought a new position in Arista Networks in the 4th quarter valued at $43,000. Institutional investors own 64.30% of the company’s stock.

Arista Networks Company Profile

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Arista Networks, Inc engages in the business of developing, marketing, and selling cloud networking solutions. The firm is also involved in switching and routing platforms and related network applications. The company was founded by Andreas Bechtolsheim, David Cheriton, and Kenneth Duda in November 2004 and is headquartered in Santa Clara, CA.