Arista Networks, Inc. (NYSE:ANET) SVP Marc Taxay Sells 624 Shares

Arista Networks, Inc. (NYSE:ANET) SVP Marc Taxay sold 624 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $388.37, for a total value of $242,342.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Marc Taxay also recently made the following trade(s):

• On Tuesday, September 3rd, Marc Taxay sold 4,497 shares of Arista Networks stock. The shares were sold at an average price of $336.32, for a total value of $1,512,431.04.
• On Thursday, August 1st, Marc Taxay sold 628 shares of Arista Networks stock. The shares were sold at an average price of $350.50, for a total transaction of $220,114.00.

Arista Networks Trading Up 0.1 %

ANET stock traded up $0.30 during trading on Thursday, reaching $389.92. 1,130,988 shares of the stock were exchanged, compared to its average volume of 2,269,743. Arista Networks, Inc. has a twelve month low of $168.25 and a twelve month high of $395.82. The company has a market capitalization of $122.19 billion, a P/E ratio of 54.31, a price-to-earnings-growth ratio of 3.04 and a beta of 1.07. The stock has a 50 day simple moving average of $350.01 and a 200-day simple moving average of $323.05.

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Citigroup upped their price target on Arista Networks from $330.00 to $385.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. JPMorgan Chase & Co. increased their price target on shares of Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Piper Sandler boosted their price objective on shares of Arista Networks from $302.00 to $345.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. UBS Group increased their target price on shares of Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Finally, Needham & Company LLC restated a “buy” rating and set a $375.00 price target on shares of Arista Networks in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $364.81.

Institutional Trading of Arista Networks

Large investors have recently added to or reduced their stakes in the company. FCG Investment Co raised its holdings in shares of Arista Networks by 2.3% in the second quarter. FCG Investment Co now owns 1,271 shares of the technology company’s stock valued at $445,000 after buying an additional 29 shares during the last quarter. Old Port Advisors lifted its position in shares of Arista Networks by 3.5% during the first quarter. Old Port Advisors now owns 955 shares of the technology company’s stock worth $277,000 after purchasing an additional 32 shares in the last quarter. Fortitude Family Office LLC lifted its position in shares of Arista Networks by 33.3% during the second quarter. Fortitude Family Office LLC now owns 132 shares of the technology company’s stock worth $46,000 after purchasing an additional 33 shares in the last quarter. Resonant Capital Advisors LLC increased its holdings in shares of Arista Networks by 4.1% in the second quarter. Resonant Capital Advisors LLC now owns 870 shares of the technology company’s stock valued at $305,000 after purchasing an additional 34 shares in the last quarter. Finally, Modera Wealth Management LLC raised its position in Arista Networks by 2.1% in the 2nd quarter. Modera Wealth Management LLC now owns 1,782 shares of the technology company’s stock worth $625,000 after purchasing an additional 37 shares during the last quarter. 82.47% of the stock is owned by institutional investors.

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.