Charles H. Giancarlo Sells 8,000 Shares of Arista Networks, Inc. (NYSE:ANET) Stock

Arista Networks, Inc. (NYSE:ANET) Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $77.55, for a total transaction of $620,400.00. Following the transaction, the director now owns 139,784 shares in the company, valued at $10,840,249.20. This represents a 5.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Arista Networks Stock Performance

Arista Networks stock opened at $64.28 on Friday. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.58. The firm has a market capitalization of $81.07 billion, a price-to-earnings ratio of 28.96, a P/E/G ratio of 3.10 and a beta of 1.30. The company has a 50 day moving average price of $94.01 and a 200 day moving average price of $101.21.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. The business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. Equities analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. UBS Group upgraded Arista Networks from a “neutral” rating to a “buy” rating and lifted their price target for the company from $112.00 to $115.00 in a research report on Wednesday, March 5th. Citigroup lifted their target price on Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. The Goldman Sachs Group reissued a “buy” rating on shares of Arista Networks in a report on Monday, March 3rd. Erste Group Bank cut shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 17th. Finally, Barclays reiterated an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $114.00.

Hedge Funds Weigh In On Arista Networks

Large investors have recently made changes to their positions in the business. Benjamin Edwards Inc. grew its position in Arista Networks by 12,994.4% during the third quarter. Benjamin Edwards Inc. now owns 11,785 shares of the technology company’s stock valued at $4,523,000 after purchasing an additional 11,695 shares in the last quarter. Hilltop Holdings Inc. purchased a new position in shares of Arista Networks during the 3rd quarter valued at $1,153,000. Janus Henderson Group PLC raised its holdings in shares of Arista Networks by 0.8% during the third quarter. Janus Henderson Group PLC now owns 357,064 shares of the technology company’s stock worth $137,004,000 after acquiring an additional 2,851 shares in the last quarter. IHT Wealth Management LLC raised its stake in shares of Arista Networks by 94.0% during the 3rd quarter. IHT Wealth Management LLC now owns 13,399 shares of the technology company’s stock worth $5,132,000 after purchasing an additional 6,491 shares in the last quarter. Finally, Motley Fool Asset Management LLC lifted its holdings in shares of Arista Networks by 5.4% during the 3rd quarter. Motley Fool Asset Management LLC now owns 14,232 shares of the technology company’s stock valued at $5,434,000 after buying an additional 734 shares during the last quarter. Institutional investors and hedge funds 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.