Insider Selling: Arista Networks, Inc. (NYSE:ANET) Director Sells $159,409.44 in Stock

Arista Networks, Inc. (NYSE:ANET) Director Kelly Bodnar Battles sold 1,488 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $107.13, for a total transaction of $159,409.44. Following the transaction, the director now directly owns 8,128 shares in the company, valued at approximately $870,752.64. This represents a 15.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Arista Networks Price Performance

Arista Networks stock traded up $4.18 during trading hours on Tuesday, reaching $111.05. The stock had a trading volume of 20,565,694 shares, compared to its average volume of 9,419,350. The company has a fifty day simple moving average of $113.95 and a 200-day simple moving average of $101.32. The stock has a market cap of $139.89 billion, a PE ratio of 53.39, a PEG ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.57.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. Research analysts predict that Arista Networks, Inc. will post 1.97 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arista Networks

Large investors have recently made changes to their positions in the company. Caitlin John LLC increased its holdings in Arista Networks by 174.7% during the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after buying an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC increased its holdings in Arista Networks by 335.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock worth $27,000 after acquiring an additional 191 shares in the last quarter. Cranbrook Wealth Management LLC lifted its holdings in Arista Networks by 300.0% during the fourth 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 in the last quarter. Trust Co. of Vermont boosted its position in shares of Arista Networks by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock worth $29,000 after purchasing an additional 198 shares during the period. Finally, New Millennium Group LLC increased its stake in shares of Arista Networks by 300.0% in the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock worth $29,000 after purchasing an additional 195 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on ANET shares. The Goldman Sachs Group lifted their target price on Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Evercore ISI boosted their price target on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Piper Sandler restated a “neutral” rating and set a $105.25 price objective (up previously from $86.25) on shares of Arista Networks in a report on Friday, November 8th. UBS Group boosted their target price on shares of Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, Barclays decreased their price target on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Arista Networks presently has a consensus rating of “Moderate Buy” and an average target price of $107.59.

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.