Arista Networks, Inc. (NYSE:ANET) Insider John F. Mccool Sells 288 Shares

Arista Networks, Inc. (NYSE:ANET) insider John F. Mccool sold 288 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $108.70, for a total value of $31,305.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Arista Networks Stock Performance

NYSE:ANET traded up $2.47 during mid-day trading on Wednesday, reaching $107.25. The stock had a trading volume of 4,755,792 shares, compared to its average volume of 8,848,114. Arista Networks, Inc. has a twelve month low of $56.34 and a twelve month high of $110.74. The business has a 50 day simple moving average of $100.46 and a 200 day simple moving average of $90.61. The firm has a market capitalization of $135.11 billion, a price-to-earnings ratio of 51.60, a PEG ratio of 3.24 and a beta of 1.10.

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

Institutional Trading of Arista Networks

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Piper Sandler reaffirmed a “neutral” rating and issued a $105.25 target price (up previously from $86.25) on shares of Arista Networks in a report on Friday, November 8th. Rosenblatt Securities boosted their target price on Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a research note on Friday, November 8th. Citigroup upped their price objective on shares of Arista Networks from $96.25 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Barclays cut their target price on Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. Finally, StockNews.com raised Arista Networks from a “hold” rating to a “buy” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Arista Networks has a consensus rating of “Moderate Buy” and a consensus target price of $98.88.

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.