Arista Networks, Inc. (NYSE:ANET) Director Charles H. Giancarlo Sells 2,000 Shares

Arista Networks, Inc. (NYSE:ANET) Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $255.83, for a total value of $511,660.00. Following the completion of the sale, the director now directly owns 56,946 shares of the company’s stock, valued at $14,568,495.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Arista Networks Price Performance

NYSE:ANET opened at $274.38 on Friday. The company has a market capitalization of $86.05 billion, a P/E ratio of 41.76, a P/E/G ratio of 2.18 and a beta of 1.13. The business has a fifty day simple moving average of $278.94 and a two-hundred day simple moving average of $248.71. Arista Networks, Inc. has a 1 year low of $131.68 and a 1 year high of $307.74.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.38. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The firm’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.25 EPS. As a group, analysts anticipate that Arista Networks, Inc. will post 6.7 earnings per share for the current year.

Institutional Trading of Arista Networks

Several hedge funds and other institutional investors have recently modified their holdings of ANET. NBC Securities Inc. boosted its stake in Arista Networks by 21.5% in the 1st quarter. NBC Securities Inc. now owns 215 shares of the technology company’s stock worth $62,000 after purchasing an additional 38 shares during the period. Sandy Spring Bank lifted its holdings in shares of Arista Networks by 33.6% in the fourth quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock worth $37,000 after buying an additional 39 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Arista Networks by 6.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 694 shares of the technology company’s stock valued at $163,000 after acquiring an additional 39 shares in the last quarter. Fulton Breakefield Broenniman LLC increased its holdings in Arista Networks by 1.8% during the 4th quarter. Fulton Breakefield Broenniman LLC now owns 2,255 shares of the technology company’s stock worth $531,000 after acquiring an additional 40 shares during the period. Finally, West Family Investments Inc. increased its holdings in Arista Networks by 3.3% during the 4th quarter. West Family Investments Inc. now owns 1,267 shares of the technology company’s stock worth $298,000 after acquiring an additional 40 shares during the period. Institutional investors own 82.47% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on ANET shares. Melius raised Arista Networks from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. Rosenblatt Securities reiterated a “sell” rating and issued a $210.00 target price on shares of Arista Networks in a report on Friday, April 12th. Wells Fargo & Company raised their price target on shares of Arista Networks from $225.00 to $310.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Jefferies Financial Group raised shares of Arista Networks from a “hold” rating to a “buy” rating and upped their price objective for the stock from $240.00 to $320.00 in a research report on Friday. Finally, JPMorgan Chase & Co. lifted their target price on shares of Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $285.53.

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.