Insider Selling: Arista Networks, Inc. (NYSE:ANET) Insider Sells 416 Shares of Stock

Arista Networks, Inc. (NYSE:ANET) insider John F. Mccool sold 416 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $254.54, for a total value of $105,888.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Arista Networks Stock Performance

Shares of NYSE:ANET opened at $274.38 on Friday. The business’s fifty day moving average price is $278.94 and its two-hundred day moving average price is $248.71. The stock has a market cap of $86.05 billion, a PE ratio of 41.76, a price-to-earnings-growth ratio of 2.18 and a beta of 1.13. Arista Networks, Inc. has a one year low of $131.68 and a one year high of $307.74.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter last year, the company earned $1.25 earnings per share. The business’s revenue for the quarter was up 20.8% compared to the same quarter last year. As a group, equities research analysts predict that Arista Networks, Inc. will post 6.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ANET. Oppenheimer reaffirmed a “market perform” rating on shares of Arista Networks in a report on Tuesday, February 13th. Rosenblatt Securities reaffirmed a “sell” rating and issued a $210.00 target price on shares of Arista Networks in a report on Friday, April 12th. Wells Fargo & Company increased their price objective on Arista Networks from $225.00 to $310.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Jefferies Financial Group upgraded shares of Arista Networks from a “hold” rating to a “buy” rating and raised their target price for the stock from $240.00 to $320.00 in a research note on Friday. Finally, JPMorgan Chase & Co. boosted their price target on shares of Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, Arista Networks has a consensus rating of “Moderate Buy” and a consensus price target of $285.53.

Hedge Funds Weigh In On Arista Networks

A number of institutional investors have recently modified their holdings of ANET. FMR LLC boosted its stake in Arista Networks by 32.2% in the 3rd quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock worth $1,897,906,000 after buying an additional 2,515,864 shares during the last quarter. Norges Bank acquired a new stake in shares of Arista Networks in the fourth quarter worth approximately $586,051,000. Vanguard Group Inc. grew its holdings in Arista Networks by 5.7% in the fourth quarter. Vanguard Group Inc. now owns 29,494,876 shares of the technology company’s stock valued at $6,946,338,000 after purchasing an additional 1,596,040 shares during the period. Schroder Investment Management Group increased its position in Arista Networks by 439.3% during the third quarter. Schroder Investment Management Group now owns 1,259,305 shares of the technology company’s stock worth $231,624,000 after purchasing an additional 1,025,815 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of Arista Networks by 25,188.0% in the 4th quarter. International Assets Investment Management LLC now owns 613,739 shares of the technology company’s stock valued at $1,445,420,000 after purchasing an additional 611,312 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

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.