John F. Mccool Sells 416 Shares of Arista Networks, Inc. (NYSE:ANET) Stock

Arista Networks, Inc. (NYSE:ANET) insider John F. Mccool sold 416 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $254.54, for a total value of $105,888.64. The transaction was disclosed in a filing with the SEC, which is available at this link.

Arista Networks Stock Up 4.8 %

Shares of NYSE ANET opened at $274.40 on Monday. Arista Networks, Inc. has a twelve month low of $131.68 and a twelve month high of $307.74. The business has a fifty day simple moving average of $279.07 and a two-hundred day simple moving average of $250.02. The firm has a market cap of $85.79 billion, a PE ratio of 41.77, a price-to-earnings-growth ratio of 2.34 and a beta of 1.13.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.38. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the previous year, the company posted $1.25 earnings per share. The firm’s quarterly revenue was up 20.8% on a year-over-year basis. On average, research analysts expect that Arista Networks, Inc. will post 6.74 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ANET shares. Melius Research upgraded shares of Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a report on Monday, January 8th. Rosenblatt Securities reaffirmed a “sell” rating and set a $210.00 price objective on shares of Arista Networks in a research note on Friday, April 12th. KeyCorp increased their target price on shares of Arista Networks from $232.00 to $287.00 and gave the company an “overweight” rating in a research note on Thursday, January 18th. Wells Fargo & Company raised their target price on shares of Arista Networks from $225.00 to $310.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. Finally, JPMorgan Chase & Co. upped their price target on shares of Arista Networks from $297.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have given 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 $285.53.

Hedge Funds Weigh In On Arista Networks

Hedge funds and other institutional investors have recently modified their holdings of the business. Benjamin Edwards Inc. purchased a new position in shares of Arista Networks in the 1st quarter valued at $26,000. Larson Financial Group LLC bought a new stake in Arista Networks during the third quarter valued at about $28,000. First Command Advisory Services Inc. bought a new position in Arista Networks in the third quarter worth about $29,000. Financial Synergies Wealth Advisors Inc. raised its holdings in Arista Networks by 872.7% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock worth $31,000 after purchasing an additional 96 shares in the last quarter. Finally, BluePath Capital Management LLC purchased a new stake in shares of Arista Networks during the third quarter valued at about $33,000. 82.47% of the stock is currently owned by institutional investors.

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.