Insider Selling: Arista Networks, Inc. (NYSE:ANET) Insider Sells 2,824 Shares of Stock

Arista Networks, Inc. (NYSE:ANET – Get Rating) insider John F. Mccool sold 2,824 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $142.07, for a total value of $401,205.68. Following the completion of the transaction, the insider now directly owns 72 shares in the company, valued at $10,229.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Arista Networks Stock Up 10.6 %

NYSE ANET opened at $156.20 on Friday. The stock has a market capitalization of $48.15 billion, a PE ratio of 32.54, a price-to-earnings-growth ratio of 1.79 and a beta of 1.26. The firm has a 50 day moving average of $154.14 and a two-hundred day moving average of $138.49. Arista Networks, Inc. has a 52 week low of $89.11 and a 52 week high of $171.44.

Arista Networks (NYSE:ANET – Get Rating) last posted its earnings results on Monday, May 1st. The technology company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Arista Networks had a return on equity of 31.33% and a net margin of 31.24%. The business’s revenue was up 54.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.78 earnings per share. On average, equities research analysts expect that Arista Networks, Inc. will post 5.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arista Networks

Several institutional investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. grew its holdings in Arista Networks by 36.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 261,360 shares of the technology company’s stock valued at $31,716,000 after purchasing an additional 70,034 shares during the last quarter. Metis Global Partners LLC raised its position in Arista Networks by 39.8% during the fourth quarter. Metis Global Partners LLC now owns 5,119 shares of the technology company’s stock worth $621,000 after acquiring an additional 1,457 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Arista Networks in the fourth quarter valued at about $118,000. Clarius Group LLC grew its position in shares of Arista Networks by 4.7% in the fourth quarter. Clarius Group LLC now owns 1,979 shares of the technology company’s stock valued at $240,000 after purchasing an additional 89 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its stake in shares of Arista Networks by 70.1% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 12,449 shares of the technology company’s stock worth $1,511,000 after purchasing an additional 5,132 shares in the last quarter. 64.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ANET has been the subject of several research analyst reports. Wells Fargo & Company raised their price target on Arista Networks from $170.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, March 22nd. Argus upped their price target on shares of Arista Networks from $175.00 to $195.00 in a research note on Tuesday, May 2nd. StockNews.com started coverage on Arista Networks in a research report on Thursday, May 18th. They set a “hold” rating for the company. Cowen lifted their price target on shares of Arista Networks from $212.00 to $225.00 and gave the company an “outperform” rating in a research note on Tuesday, February 14th. Finally, The Goldman Sachs Group raised their target price on shares of Arista Networks from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, April 5th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Arista Networks presently has a consensus rating of “Moderate Buy” and an average target price of $173.85.

Arista Networks Company Profile

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Arista Networks, Inc engages in the business of developing, marketing, and selling cloud networking solutions. The firm is also involved in switching and routing platforms and related network applications. The company was founded by Andreas Bechtolsheim, David Cheriton, and Kenneth Duda in November 2004 and is headquartered in Santa Clara, CA.