Arista Networks, Inc. (NYSE:ANET) Director Charles H. Giancarlo Sells 2,000 Shares

Arista Networks, Inc. (NYSE:ANET) Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $255.83, for a total value of $511,660.00. Following the completion of the transaction, the director now directly owns 56,946 shares in the company, valued at approximately $14,568,495.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Arista Networks Trading Up 4.8 %

Shares of ANET stock traded up $12.52 during mid-day trading on Friday, reaching $274.38. The stock had a trading volume of 2,883,165 shares, compared to its average volume of 2,455,522. Arista Networks, Inc. has a 12-month low of $131.68 and a 12-month high of $307.74. The business has a 50-day simple moving average of $278.94 and a 200 day simple moving average of $248.71. The company has a market cap of $86.05 billion, a P/E ratio of 41.76, a price-to-earnings-growth ratio of 2.18 and a beta of 1.13.

Arista Networks (NYSE:ANET) last announced its earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.38. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The firm’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.25 earnings per share. Research analysts anticipate that Arista Networks, Inc. will post 6.7 EPS for the current year.

Institutional Investors Weigh In On Arista Networks

A number of institutional investors and hedge funds have recently bought and sold shares of ANET. Vanguard Group Inc. raised its holdings in shares of Arista Networks by 5.7% in the fourth quarter. Vanguard Group Inc. now owns 29,494,876 shares of the technology company’s stock worth $6,946,338,000 after acquiring an additional 1,596,040 shares during the last quarter. FMR LLC increased its position in Arista Networks by 32.2% during the 3rd quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock worth $1,897,906,000 after purchasing an additional 2,515,864 shares in the last quarter. Capital World Investors raised its stake in Arista Networks by 0.5% in the 4th quarter. Capital World Investors now owns 10,136,348 shares of the technology company’s stock valued at $2,387,211,000 after purchasing an additional 55,312 shares during the last quarter. WCM Investment Management LLC lifted its holdings in Arista Networks by 0.8% in the 1st quarter. WCM Investment Management LLC now owns 3,049,416 shares of the technology company’s stock valued at $884,270,000 after purchasing an additional 25,196 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Arista Networks during the 4th quarter worth about $586,051,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

ANET has been the topic of a number of analyst reports. Rosenblatt Securities reiterated a “sell” rating and issued a $210.00 price objective on shares of Arista Networks in a research report on Friday, April 12th. KeyCorp lifted their target price on shares of Arista Networks from $232.00 to $287.00 and gave the company an “overweight” rating in a report on Thursday, January 18th. Barclays increased their price target on shares of Arista Networks from $272.00 to $311.00 and gave the stock an “overweight” rating in a report on Tuesday, February 13th. Melius raised Arista Networks from a “hold” rating to a “buy” rating in a report on Monday, January 8th. Finally, Jefferies Financial Group raised Arista Networks from a “hold” rating to a “buy” rating and increased their target price for the stock from $240.00 to $320.00 in a research note on Friday. One analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, Arista Networks currently has an average rating of “Moderate Buy” and an average price target of $285.53.

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.