Insider Selling: Arista Networks, Inc. (NYSE:ANET) Insider Sells 580 Shares of Stock

Arista Networks, Inc. (NYSE:ANET) insider John F. Mccool sold 580 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $388.37, for a total value of $225,254.60. Following the completion of the sale, the insider now directly owns 72 shares of the company’s stock, valued at $27,962.64. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Arista Networks Stock Up 0.1 %

Shares of NYSE ANET traded up $0.30 during midday trading on Thursday, hitting $389.92. The company had a trading volume of 1,130,988 shares, compared to its average volume of 2,269,743. The firm has a market capitalization of $122.19 billion, a price-to-earnings ratio of 54.31, a price-to-earnings-growth ratio of 3.04 and a beta of 1.07. Arista Networks, Inc. has a twelve month low of $168.25 and a twelve month high of $395.82. The business has a 50-day simple moving average of $350.01 and a two-hundred day simple moving average of $323.05.

Arista Networks (NYSE:ANET) last released 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. The business had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.66 billion. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The company’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.41 EPS. On average, equities analysts forecast that Arista Networks, Inc. will post 7.38 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ANET shares. Rosenblatt Securities increased their price objective on Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a report on Wednesday, July 31st. Wells Fargo & Company increased their price target on shares of Arista Networks from $340.00 to $390.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Evercore ISI lifted their price objective on shares of Arista Networks from $400.00 to $425.00 and gave the company an “outperform” rating in a research note on Tuesday. KeyCorp raised their price target on Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Finally, Barclays increased their price objective on Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $364.81.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Benjamin Edwards Inc. acquired a new stake in shares of Arista Networks during the first quarter valued at $26,000. Beacon Capital Management LLC lifted its holdings in Arista Networks by 500.0% in the 2nd quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after purchasing an additional 65 shares in the last quarter. LGT Financial Advisors LLC acquired a new stake in shares of Arista Networks during the 2nd quarter worth about $27,000. Financial Synergies Wealth Advisors Inc. raised its position in shares of Arista Networks by 872.7% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock valued at $31,000 after buying an additional 96 shares during the last quarter. Finally, Byrne Asset Management LLC acquired a new stake in Arista Networks during the second quarter worth approximately $33,000. Hedge funds and other 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.