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

Arista Networks, Inc. (NYSE:ANET) Director Kelly Bodnar Battles sold 372 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $356.74, for a total value of $132,707.28. Following the completion of the sale, the director now directly owns 2,565 shares of the company’s stock, valued at approximately $915,038.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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 stock was sold at an average price of $324.02, for a total value of $69,988.32.

Arista Networks Price Performance

Shares of NYSE:ANET opened at $379.36 on Friday. Arista Networks, Inc. has a 1 year low of $168.25 and a 1 year high of $380.54. The company has a market capitalization of $118.88 billion, a PE ratio of 52.84, a price-to-earnings-growth ratio of 2.70 and a beta of 1.07. The business has a fifty day moving average price of $341.09 and a two-hundred day moving average price of $315.79.

Arista Networks (NYSE:ANET) last issued 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 company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the previous year, the firm earned $1.41 EPS. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. Sell-side analysts anticipate that Arista Networks, Inc. will post 7.38 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Sanctuary Advisors LLC bought a new position in Arista Networks during the second quarter valued at $9,858,000. NCP Inc. purchased a new position in shares of Arista Networks during the 2nd quarter valued at $105,000. Kestra Investment Management LLC purchased a new position in shares of Arista Networks during the 2nd quarter valued at $707,000. Clearbridge Investments LLC grew its stake in shares of Arista Networks by 2.0% during the 2nd quarter. Clearbridge Investments LLC now owns 344,222 shares of the technology company’s stock worth $120,643,000 after acquiring an additional 6,638 shares during the period. Finally, Dana Investment Advisors Inc. increased its holdings in Arista Networks by 3.4% in the 2nd quarter. Dana Investment Advisors Inc. now owns 3,195 shares of the technology company’s stock worth $1,120,000 after acquiring an additional 105 shares during the last quarter. 82.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ANET has been the subject of a number of recent research reports. Needham & Company LLC restated a “buy” rating and set a $375.00 price target on shares of Arista Networks in a research note on Wednesday, July 31st. Rosenblatt Securities boosted their target price on shares of Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a research report on Wednesday, July 31st. Evercore ISI reaffirmed an “outperform” rating and issued a $400.00 price target on shares of Arista Networks in a research report on Friday, September 13th. Bank of America lifted their price target on Arista Networks from $320.00 to $380.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Finally, Citigroup increased their price objective on Arista Networks from $330.00 to $385.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given 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 $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.