Insider Selling: Arista Networks, Inc. (NYSE:ANET) Insider Sells 1,585 Shares of Stock

Arista Networks, Inc. (NYSE:ANET) insider John F. Mccool sold 1,585 shares of Arista Networks stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $394.33, for a total transaction of $625,013.05. Following the completion of the sale, the insider now directly owns 72 shares of the company’s stock, valued at approximately $28,391.76. This trade represents a 95.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Arista Networks Price Performance

Shares of NYSE:ANET traded down $6.69 during trading on Monday, hitting $399.79. 2,400,336 shares of the company’s stock were exchanged, compared to its average volume of 2,239,958. The business’s 50-day simple moving average is $394.02 and its 200 day simple moving average is $354.66. The company has a market cap of $125.91 billion, a price-to-earnings ratio of 48.05, a PEG ratio of 3.28 and a beta of 1.08. Arista Networks, Inc. has a 52-week low of $210.69 and a 52-week high of $431.97.

Arista Networks’s stock is going to split before the market opens on Wednesday, December 4th. The 4-1 split was announced on Thursday, November 7th. The newly minted shares will be payable to shareholders after the market closes on Tuesday, December 3rd.

Arista Networks (NYSE:ANET) last issued its earnings results on Thursday, November 7th. The technology company reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.32. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.76 billion. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. Arista Networks’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.63 earnings per share. On average, sell-side analysts anticipate that Arista Networks, Inc. will post 7.75 EPS for the current fiscal year.

Institutional Investors Weigh In On Arista Networks

Large investors have recently made changes to their positions in the company. Beacon Capital Management LLC increased its position in Arista Networks by 500.0% in the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock worth $27,000 after purchasing an additional 65 shares during the last quarter. LGT Financial Advisors LLC bought a new position in shares of Arista Networks in the 2nd quarter valued at about $27,000. Byrne Asset Management LLC purchased a new position in Arista Networks in the second quarter worth about $33,000. Sugarloaf Wealth Management LLC purchased a new position in Arista Networks in the second quarter worth about $35,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Arista Networks during the second quarter worth approximately $35,000. 82.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Citigroup lifted their price objective on Arista Networks from $385.00 to $460.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. 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. Evercore ISI increased their price objective on shares of Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Wells Fargo & Company boosted their target price on shares of Arista Networks from $390.00 to $460.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $421.00 target price (up from $345.00) on shares of Arista Networks in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $395.19.

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.