Arista Networks, Inc. (NYSE:ANET) Director Kelly Bodnar Battles Sells 373 Shares

Arista Networks, Inc. (NYSE:ANET) Director Kelly Bodnar Battles sold 373 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $396.48, for a total transaction of $147,887.04. Following the transaction, the director now directly owns 2,192 shares of the company’s stock, valued at $869,084.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Kelly Bodnar Battles also recently made the following trade(s):

• On Monday, September 16th, Kelly Bodnar Battles sold 372 shares of Arista Networks stock. The shares were sold at an average price of $356.74, for a total value of $132,707.28.
• On Tuesday, August 6th, Kelly Bodnar Battles sold 216 shares of Arista Networks stock. The shares were sold at an average price of $324.02, for a total value of $69,988.32.

Arista Networks Stock Down 0.4 %

Shares of NYSE:ANET opened at $394.09 on Friday. The company has a market cap of $123.49 billion, a P/E ratio of 54.89, a price-to-earnings-growth ratio of 3.21 and a beta of 1.07. The company’s fifty day moving average is $372.10 and its two-hundred day moving average is $335.14. Arista Networks, Inc. has a 12-month low of $168.25 and a 12-month high of $422.73.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.38. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the prior year, the business earned $1.41 EPS. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. Equities research analysts anticipate that Arista Networks, Inc. will post 7.38 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GQG Partners LLC purchased a new stake in Arista Networks in the 1st quarter worth approximately $881,848,000. Swedbank AB acquired a new position in shares of Arista Networks in the first quarter worth $521,767,000. Ameriprise Financial Inc. raised its holdings in shares of Arista Networks by 97.2% during the second quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company’s stock worth $628,966,000 after acquiring an additional 884,703 shares in the last quarter. International Assets Investment Management LLC boosted its position in Arista Networks by 39,841.1% during 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 during the last quarter. Finally, 1832 Asset Management L.P. grew its stake in Arista Networks by 4,160.9% in the second quarter. 1832 Asset Management L.P. now owns 515,700 shares of the technology company’s stock valued at $180,743,000 after purchasing an additional 503,597 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. KeyCorp raised their price target on Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Evercore ISI boosted their price target on shares of Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Wells Fargo & Company upped their price target on shares of Arista Networks from $340.00 to $390.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. boosted their target price on Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, Morgan Stanley increased their price target on Arista Networks from $325.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. One analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, Arista Networks presently has an average rating of “Moderate Buy” and a consensus target price of $369.50.

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.