Arista Networks, Inc. (NYSE:ANET) Director Yvonne Wassenaar Sells 168 Shares

Arista Networks, Inc. (NYSE:ANET) Director Yvonne Wassenaar sold 168 shares of Arista Networks stock in a transaction on 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 in the company, valued at $1,625,056.56. This trade represents a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Arista Networks Trading Down 0.7 %

ANET opened at $128.96 on Friday. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $131.18. The stock has a 50-day moving average of $109.32 and a 200 day moving average of $97.69. The firm has a market cap of $162.45 billion, a P/E ratio of 62.00, a P/E/G ratio of 3.26 and a beta of 1.08.

Arista Networks (NYSE:ANET) last released its earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.08. The firm 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 company’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 EPS. On average, research analysts forecast that Arista Networks, Inc. will post 1.97 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ANET. The Goldman Sachs Group lifted their price objective on Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, January 17th. 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 report on Friday, November 8th. UBS Group increased their price objective on shares of Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research note on Friday, November 8th. StockNews.com cut shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Finally, Morgan Stanley increased their price target on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $105.83.

Institutional Investors Weigh In On Arista Networks

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Cranbrook Wealth Management LLC grew its holdings in Arista Networks by 300.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after purchasing an additional 198 shares during the last quarter. Trust Co. of Vermont grew its stake in shares of Arista Networks by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after buying an additional 198 shares during the last quarter. Westside Investment Management Inc. raised its holdings in shares of Arista Networks by 1,012.0% in the fourth quarter. Westside Investment Management Inc. now owns 278 shares of the technology company’s stock worth $31,000 after buying an additional 253 shares during the period. Anchor Investment Management LLC bought a new stake in shares of Arista Networks during the 2nd quarter worth approximately $35,000. Finally, Sound Income Strategies LLC purchased a new position in Arista Networks during the 4th quarter valued at $35,000. Hedge funds and other institutional investors 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.