Arista Networks (NYSE:ANET) Director Sells $1,024,720.00 in Stock

Arista Networks, Inc. (NYSE:ANET) Director Charles Giancarlo sold 8,000 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $128.09, for a total transaction of $1,024,720.00. Following the transaction, the director owned 25,784 shares in the company, valued at approximately $3,302,672.56. This trade represents a 23.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Arista Networks Stock Performance

Shares of ANET stock traded up $0.65 during mid-day trading on Wednesday, reaching $127.87. 5,282,685 shares of the company’s stock traded hands, compared to its average volume of 9,952,436. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $164.94. The firm has a 50 day moving average price of $141.38 and a two-hundred day moving average price of $124.88. The firm has a market capitalization of $161.02 billion, a PE ratio of 48.62, a price-to-earnings-growth ratio of 2.46 and a beta of 1.41.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, November 4th. The technology company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.The business had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same quarter in the prior year, the business posted $2.40 earnings per share. The business’s quarterly revenue was up 27.5% on a year-over-year basis. As a group, equities analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arista Networks

Institutional investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC lifted its position in Arista Networks by 321.7% in the fourth quarter. Brighton Jones LLC now owns 7,806 shares of the technology company’s stock valued at $863,000 after purchasing an additional 5,955 shares during the period. Revolve Wealth Partners LLC purchased a new stake in shares of Arista Networks during the fourth quarter worth about $202,000. Bison Wealth LLC purchased a new position in Arista Networks during the fourth quarter worth about $251,000. Harbour Investments Inc. grew its stake in shares of Arista Networks by 9.4% during the 1st quarter. Harbour Investments Inc. now owns 1,624 shares of the technology company’s stock valued at $126,000 after buying an additional 139 shares during the period. Finally, IFG Advisory LLC grew its holdings in shares of Arista Networks by 5.7% during the 1st quarter. IFG Advisory LLC now owns 3,684 shares of the technology company’s stock worth $285,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on ANET shares. Rosenblatt Securities restated a “neutral” rating and set a $140.00 price objective on shares of Arista Networks in a research report on Monday, November 24th. BNP Paribas Exane upgraded Arista Networks from a “neutral” rating to an “outperform” rating and set a $172.00 price target for the company in a research report on Thursday, September 25th. Erste Group Bank downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Monday, November 10th. Weiss Ratings upgraded Arista Networks from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. Finally, Evercore ISI boosted their target price on shares of Arista Networks from $150.00 to $175.00 and gave the company an “outperform” rating in a research note on Friday, September 12th. Eighteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Arista Networks presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.31.

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.