Charles H. Giancarlo Sells 2,000 Shares of Arista Networks, Inc. (NYSE:ANET) Stock

Arista Networks, Inc. (NYSE:ANET) Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $255.83, for a total transaction of $511,660.00. Following the completion of the sale, the director now directly owns 56,946 shares of the company’s stock, valued at $14,568,495.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Arista Networks Trading Up 4.8 %

Shares of ANET opened at $274.40 on Monday. The stock has a 50 day moving average of $279.07 and a 200 day moving average of $250.02. The company has a market capitalization of $85.79 billion, a price-to-earnings ratio of 41.77, a PEG ratio of 2.34 and a beta of 1.13. Arista Networks, Inc. has a 12 month low of $131.68 and a 12 month high of $307.74.

Arista Networks (NYSE:ANET) last announced its earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.38. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The business’s revenue was up 20.8% compared to the same quarter last year. During the same period last year, the firm posted $1.25 EPS. As a group, equities research analysts predict that Arista Networks, Inc. will post 6.74 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC increased its stake in shares of Arista Networks by 32.2% during the 3rd quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock worth $1,897,906,000 after purchasing an additional 2,515,864 shares during the last quarter. Norges Bank purchased a new stake in Arista Networks in the fourth quarter worth $586,051,000. Vanguard Group Inc. raised its stake in shares of 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 buying an additional 1,596,040 shares during the period. Schroder Investment Management Group lifted its position in shares of Arista Networks by 439.3% during the 3rd quarter. Schroder Investment Management Group now owns 1,259,305 shares of the technology company’s stock valued at $231,624,000 after buying an additional 1,025,815 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in shares of Arista Networks by 25,188.0% during the 4th quarter. International Assets Investment Management LLC now owns 613,739 shares of the technology company’s stock worth $1,445,420,000 after acquiring an additional 611,312 shares during the period. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ANET. JPMorgan Chase & Co. boosted their target price on Arista Networks from $297.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Barclays upped their target price on Arista Networks from $272.00 to $311.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 13th. Melius Research raised shares of Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a research report on Monday, January 8th. Needham & Company LLC restated a “buy” rating and set a $320.00 price objective on shares of Arista Networks in a report on Tuesday, February 13th. Finally, Wells Fargo & Company raised their price objective on shares of Arista Networks from $225.00 to $310.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $285.53.

About Arista Networks

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.