Arista Networks, Inc. (NYSE:ANET) Director Sells $20,331.36 in Stock

Arista Networks, Inc. (NYSE:ANET) Director Yvonne Wassenaar sold 168 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $121.02, for a total value of $20,331.36. Following the transaction, the director now owns 13,428 shares of the company’s stock, valued at approximately $1,625,056.56. The trade was a 1.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Arista Networks Price Performance

Shares of NYSE:ANET traded down $0.86 during trading hours on Thursday, hitting $128.96. The company’s stock had a trading volume of 5,855,431 shares, compared to its average volume of 6,453,973. The firm’s fifty day moving average price is $109.32 and its 200 day moving average price is $97.69. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $131.18. The company has a market capitalization of $162.45 billion, a price-to-earnings ratio of 62.00, a P/E/G ratio of 3.26 and a beta of 1.08.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data 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. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.76 billion. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.41 earnings per share. On average, equities research analysts predict that Arista Networks, Inc. will post 1.97 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ANET shares. Rosenblatt Securities lifted their price objective on Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a research note on Friday, November 8th. Piper Sandler reaffirmed a “neutral” rating and set a $105.25 price target (up previously from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. StockNews.com lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Citigroup boosted their target price on shares of Arista Networks from $96.25 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, Evercore ISI increased their price target on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.83.

Hedge Funds Weigh In On Arista Networks

A number of large investors have recently made changes to their positions in ANET. Zions Bancorporation N.A. increased its position in shares of Arista Networks by 6.9% in the 3rd quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock valued at $160,000 after acquiring an additional 27 shares during the period. Intellectus Partners LLC grew its stake in Arista Networks by 1.4% during the 3rd quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock valued at $740,000 after purchasing an additional 27 shares during the last quarter. First Affirmative Financial Network increased its holdings in shares of Arista Networks by 4.3% in the third quarter. First Affirmative Financial Network now owns 682 shares of the technology company’s stock valued at $262,000 after purchasing an additional 28 shares during the period. Altman Advisors Inc. raised its stake in shares of Arista Networks by 0.5% in the third quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock worth $2,250,000 after purchasing an additional 28 shares during the last quarter. Finally, Everpar Advisors LLC lifted its holdings in shares of Arista Networks by 1.5% during the third quarter. Everpar Advisors LLC now owns 1,907 shares of the technology company’s stock worth $732,000 after purchasing an additional 29 shares during the period. 82.47% of the stock is owned by institutional investors and hedge funds.

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.