Arista Networks, Inc. (NYSE:ANET) Director Kelly Bodnar Battles Sells 372 Shares of Stock

Arista Networks, Inc. (NYSE:ANET) Director Kelly Bodnar Battles sold 372 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $356.74, for a total transaction of $132,707.28. Following the transaction, the director now owns 2,565 shares of the company’s stock, valued at $915,038.10. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Kelly Bodnar Battles also recently made the following trade(s):

• On Tuesday, August 6th, Kelly Bodnar Battles sold 216 shares of Arista Networks stock. The shares were sold at an average price of $324.02, for a total transaction of $69,988.32.

Arista Networks Trading Up 0.2 %

Shares of ANET opened at $361.70 on Thursday. Arista Networks, Inc. has a 1 year low of $168.25 and a 1 year high of $376.50. The stock has a market cap of $113.34 billion, a P/E ratio of 50.38, a price-to-earnings-growth ratio of 2.70 and a beta of 1.07. The stock’s 50-day moving average price is $340.70 and its two-hundred day moving average price is $315.34.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.38. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The business had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the previous year, the business posted $1.41 EPS. Arista Networks’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, equities analysts forecast that Arista Networks, Inc. will post 7.38 EPS for the current year.

Hedge Funds Weigh In On Arista Networks

Several institutional investors have recently modified their holdings of ANET. Vanguard Group Inc. lifted its stake in Arista Networks by 5.7% in the 4th quarter. Vanguard Group Inc. now owns 29,494,876 shares of the technology company’s stock valued at $6,946,338,000 after acquiring an additional 1,596,040 shares in the last quarter. Capital World Investors raised its stake in shares of Arista Networks by 0.5% during the 4th quarter. Capital World Investors now owns 10,136,348 shares of the technology company’s stock worth $2,387,211,000 after purchasing an additional 55,312 shares in the last quarter. WCM Investment Management LLC raised its stake in shares of Arista Networks by 0.8% during the 1st quarter. WCM Investment Management LLC now owns 3,049,416 shares of the technology company’s stock worth $884,270,000 after purchasing an additional 25,196 shares in the last quarter. GQG Partners LLC bought a new stake in shares of Arista Networks during the 1st quarter worth approximately $881,848,000. Finally, Legal & General Group Plc raised its stake in shares of Arista Networks by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 2,195,733 shares of the technology company’s stock worth $769,560,000 after purchasing an additional 20,278 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Analysts Set New Price Targets

ANET has been the subject of several recent research reports. Morgan Stanley raised their target price on shares of Arista Networks from $325.00 to $355.00 and gave the company an “overweight” rating in a report on Thursday, July 18th. Bank of America raised their target price on shares of Arista Networks from $320.00 to $380.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Rosenblatt Securities raised their price target on shares of Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a research note on Wednesday, July 31st. Barclays raised their price target on shares of Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, UBS Group raised their price target on shares of Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $358.63.

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.