Marc Taxay Sells 1,044 Shares of Arista Networks, Inc. (NYSE:ANET) Stock

Arista Networks, Inc. (NYSE:ANET) SVP Marc Taxay sold 1,044 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $254.54, for a total transaction of $265,739.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Marc Taxay also recently made the following trade(s):

• On Monday, April 1st, Marc Taxay sold 1,040 shares of Arista Networks stock. The shares were sold at an average price of $292.28, for a total transaction of $303,971.20.
• On Friday, March 1st, Marc Taxay sold 11,650 shares of Arista Networks stock. The shares were sold at an average price of $286.28, for a total transaction of $3,335,162.00.

Arista Networks Stock Performance

Arista Networks stock opened at $274.40 on Monday. The firm’s fifty day moving average price is $279.07 and its 200-day moving average price is $250.02. The stock has a market cap of $85.79 billion, a P/E ratio of 41.77, a price-to-earnings-growth ratio of 2.34 and a beta of 1.13. Arista Networks, Inc. has a fifty-two week low of $131.68 and a fifty-two week high of $307.74.

Arista Networks (NYSE:ANET) last posted 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. The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The business’s quarterly revenue was up 20.8% on a year-over-year basis. During the same quarter last year, the company posted $1.25 EPS. On average, analysts predict that Arista Networks, Inc. will post 6.74 earnings per share for the current year.

Institutional Trading of Arista Networks

Institutional investors and hedge funds have recently made changes to their positions in the stock. Benjamin Edwards Inc. bought a new position in shares of Arista Networks during the 1st quarter valued at $26,000. Larson Financial Group LLC bought a new position in shares of Arista Networks during the 3rd quarter valued at $28,000. First Command Advisory Services Inc. bought a new position in shares of Arista Networks during the 3rd quarter valued at $29,000. Financial Synergies Wealth Advisors Inc. grew its holdings in shares of Arista Networks by 872.7% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock valued at $31,000 after purchasing an additional 96 shares during the last quarter. Finally, BluePath Capital Management LLC bought a new position in shares of Arista Networks during the 3rd quarter valued at $33,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on ANET shares. JMP Securities reissued a “market outperform” rating and set a $325.00 target price on shares of Arista Networks in a research report on Tuesday, February 13th. 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 research note on Thursday, April 11th. Jefferies Financial Group upgraded shares of Arista Networks from a “hold” rating to a “buy” rating and upped their price target for the company from $240.00 to $320.00 in a research note on Friday. Needham & Company LLC restated a “buy” rating and set a $320.00 price target on shares of Arista Networks in a research note on Tuesday, February 13th. Finally, Rosenblatt Securities restated a “sell” rating and set a $210.00 price target on shares of Arista Networks in a research note on Friday, April 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.