Arista Networks, Inc. (NYSE:ANET) Director Sells $892,080.00 in 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 stock was sold at an average price of $111.51, for a total transaction of $892,080.00. Following the completion of the sale, the director now owns 163,784 shares in the company, valued at approximately $18,263,553.84. This trade represents a 4.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Arista Networks Price Performance

Arista Networks stock opened at $115.41 on Wednesday. The firm has a 50-day moving average of $105.45 and a 200-day moving average of $95.40. The company has a market cap of $145.39 billion, a price-to-earnings ratio of 55.49, a P/E/G ratio of 3.21 and a beta of 1.08. Arista Networks, Inc. has a one year low of $58.75 and a one year high of $120.28.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period last year, the company earned $0.41 earnings per share. The business’s revenue was up 20.0% compared to the same quarter last year. As a group, sell-side analysts expect that Arista Networks, Inc. will post 1.96 earnings per share for the current year.

Hedge Funds Weigh In On Arista Networks

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ANET shares. StockNews.com cut shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Evercore ISI increased their price target on Arista Networks from $100.00 to $106.25 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Rosenblatt Securities lifted their price objective on Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a report on Friday, November 8th. The Goldman Sachs Group increased their target price on Arista Networks from $97.50 to $107.50 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Finally, Wells Fargo & Company lifted their price target on shares of Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $100.70.

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.