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

Arista Networks, Inc. (NYSE:ANET) Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $111.51, for a total transaction of $892,080.00. Following the completion of the sale, the director now owns 163,784 shares of the company’s stock, valued at approximately $18,263,553.84. This represents a 4.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Arista Networks Price Performance

Shares of NYSE ANET opened at $118.94 on Tuesday. The business has a fifty day moving average price of $105.14 and a two-hundred day moving average price of $95.19. The stock has a market capitalization of $149.84 billion, a PE ratio of 57.18, a P/E/G ratio of 3.21 and a beta of 1.08. Arista Networks, Inc. has a fifty-two week low of $58.75 and a fifty-two week high of $119.53.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Thursday, November 7th. The technology company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the previous year, the firm earned $0.41 earnings per share. Arista Networks’s revenue for the quarter was up 20.0% compared to the same quarter last year. On average, equities analysts expect that Arista Networks, Inc. will post 1.96 EPS for the current year.

Wall Street Analysts Forecast Growth

ANET has been the subject of several recent analyst reports. StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Piper Sandler reaffirmed a “neutral” rating and issued a $105.25 price objective (up from $86.25) on shares of Arista Networks in a research report on Friday, November 8th. Morgan Stanley lifted their target price on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Citigroup increased their price target on Arista Networks from $96.25 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Finally, The Goldman Sachs Group lifted their price objective on shares of Arista Networks from $97.50 to $107.50 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $100.70.

Institutional Trading of Arista Networks

Large investors have recently made changes to their positions in the company. GW Henssler & Associates Ltd. lifted its stake in Arista Networks by 3.6% during the third quarter. GW Henssler & Associates Ltd. now owns 63,244 shares of the technology company’s stock worth $24,274,000 after purchasing an additional 2,219 shares during the last quarter. Deepwater Asset Management LLC bought a new stake in shares of Arista Networks during the 2nd quarter worth $15,084,000. Sumitomo Life Insurance Co. boosted its stake in Arista Networks by 69.8% in the third quarter. Sumitomo Life Insurance Co. now owns 9,028 shares of the technology company’s stock valued at $3,465,000 after buying an additional 3,711 shares in the last quarter. Walkner Condon Financial Advisors LLC bought a new position in Arista Networks in the third quarter valued at about $2,318,000. Finally, Greenleaf Trust raised its stake in Arista Networks by 20.1% during the third quarter. Greenleaf Trust now owns 13,224 shares of the technology company’s stock worth $5,076,000 after acquiring an additional 2,216 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

About Arista Networks

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.