Charles H. Giancarlo Sells 8,000 Shares of Arista Networks, Inc. (NYSE:ANET) Stock

Arista Networks, Inc. (NYSE:ANET) Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $111.51, for a total transaction of $892,080.00. Following the completion of the transaction, the director now owns 163,784 shares of the company’s stock, valued at approximately $18,263,553.84. This represents a 4.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Arista Networks Trading Down 3.0 %

Shares of ANET stock opened at $115.41 on Wednesday. The firm has a market capitalization of $145.39 billion, a price-to-earnings ratio of 55.49, a PEG ratio of 3.21 and a beta of 1.08. The firm’s 50 day moving average is $105.45 and its 200-day moving average is $95.40. Arista Networks, Inc. has a 1 year low of $58.75 and a 1 year high of $120.28.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Thursday, November 7th. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.08. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.76 billion. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.41 EPS. On average, equities research analysts forecast that Arista Networks, Inc. will post 1.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Piper Sandler reissued a “neutral” rating and issued a $105.25 target price (up previously from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. Rosenblatt Securities upped their price objective on Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a research note on Friday, November 8th. Barclays cut their target price on Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. StockNews.com cut Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Finally, The Goldman Sachs Group increased their price objective on Arista Networks from $97.50 to $107.50 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Arista Networks presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.70.

Hedge Funds Weigh In On Arista Networks

Hedge funds have recently added to or reduced their stakes in the company. Range Financial Group LLC boosted its stake in shares of Arista Networks by 1,599.0% in the 4th quarter. Range Financial Group LLC now owns 43,562 shares of the technology company’s stock valued at $4,815,000 after purchasing an additional 40,998 shares during the last quarter. Rise Advisors LLC lifted its holdings in Arista Networks by 132.0% in the fourth quarter. Rise Advisors LLC now owns 775 shares of the technology company’s stock valued at $86,000 after buying an additional 441 shares during the period. Diversified Trust Co grew its holdings in Arista Networks by 440.5% during the 4th quarter. Diversified Trust Co now owns 27,880 shares of the technology company’s stock worth $3,082,000 after acquiring an additional 22,722 shares during the period. Horizons Wealth Management grew its holdings in Arista Networks by 300.0% during the 4th quarter. Horizons Wealth Management now owns 800 shares of the technology company’s stock worth $88,000 after acquiring an additional 600 shares during the period. Finally, Capital Market Strategies LLC raised its position in shares of Arista Networks by 307.5% during the 4th quarter. Capital Market Strategies LLC now owns 5,294 shares of the technology company’s stock valued at $585,000 after acquiring an additional 3,995 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

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.