Insider Selling: Arista Networks, Inc. (NYSE:ANET) Insider Sells 112 Shares of Stock

Arista Networks, Inc. (NYSE:ANET) insider John F. Mccool sold 112 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $102.11, for a total value of $11,436.32. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Arista Networks Price Performance

Shares of Arista Networks stock traded down $5.10 during trading on Friday, reaching $98.31. 13,984,341 shares of the company traded hands, compared to its average volume of 10,062,921. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.57. The company has a 50 day moving average price of $113.94 and a 200-day moving average price of $101.57. The firm has a market capitalization of $123.84 billion, a PE ratio of 44.28, a P/E/G ratio of 2.79 and a beta of 1.09.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.02. The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. Equities research analysts expect that Arista Networks, Inc. will post 2.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ANET has been the topic of a number of recent analyst reports. Rosenblatt Securities reissued a “sell” rating and set a $80.00 price target on shares of Arista Networks in a research note on Tuesday. Barclays upped their price objective on Arista Networks from $125.00 to $126.00 and gave the stock an “overweight” rating in a report on Wednesday. The Goldman Sachs Group increased their price target on Arista Networks from $135.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday. UBS Group raised their target price on Arista Networks from $106.00 to $112.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Morgan Stanley raised their target price on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Arista Networks has an average rating of “Moderate Buy” and an average target price of $113.79.

Hedge Funds Weigh In On Arista Networks

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Foundations Investment Advisors LLC raised its stake in Arista Networks by 5.0% in the third quarter. Foundations Investment Advisors LLC now owns 653 shares of the technology company’s stock valued at $251,000 after purchasing an additional 31 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in Arista Networks by 5.6% in the third quarter. Sequoia Financial Advisors LLC now owns 5,917 shares of the technology company’s stock valued at $2,271,000 after purchasing an additional 316 shares in the last quarter. Waldron Private Wealth LLC purchased a new stake in Arista Networks in the third quarter valued at approximately $203,000. Private Advisor Group LLC raised its stake in Arista Networks by 14.4% in the third quarter. Private Advisor Group LLC now owns 14,868 shares of the technology company’s stock valued at $5,706,000 after purchasing an additional 1,867 shares in the last quarter. Finally, International Assets Investment Management LLC raised its stake in Arista Networks by 39,841.1% in the third quarter. International Assets Investment Management LLC now owns 875,110 shares of the technology company’s stock valued at $3,358,850,000 after purchasing an additional 872,919 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

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.