Charles H. Giancarlo Sells 2,000 Shares of Arista Networks, Inc. (NYSE:ANET) Stock

Arista Networks, Inc. (NYSE:ANET) Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $393.18, for a total value of $786,360.00. Following the completion of the transaction, the director now owns 44,946 shares of the company’s stock, valued at $17,671,868.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Arista Networks Stock Performance

NYSE:ANET opened at $431.56 on Friday. The stock has a market cap of $135.57 billion, a price-to-earnings ratio of 55.97, a PEG ratio of 3.48 and a beta of 1.08. Arista Networks, Inc. has a 1 year low of $203.19 and a 1 year high of $431.97. The business has a fifty day moving average of $379.96 and a 200-day moving average of $342.48.

Arista Networks’s stock is going to split on the morning of Wednesday, December 4th. The 4-1 split was announced on Thursday, November 7th. The newly created shares will be payable to shareholders after the closing bell on Tuesday, December 3rd.

Hedge Funds Weigh In On Arista Networks

Large investors have recently bought and sold shares of the stock. GQG Partners LLC acquired a new stake in shares of Arista Networks in the 1st quarter worth approximately $881,848,000. Swedbank AB bought a new stake in Arista Networks during the first quarter worth approximately $521,767,000. Ameriprise Financial Inc. raised its holdings in Arista Networks by 97.2% during the second quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company’s stock worth $628,966,000 after purchasing an additional 884,703 shares in the last quarter. International Assets Investment Management LLC lifted its position in Arista Networks by 39,841.1% in the third quarter. International Assets Investment Management LLC now owns 875,110 shares of the technology company’s stock worth $3,358,850,000 after purchasing an additional 872,919 shares during the period. Finally, 1832 Asset Management L.P. boosted its stake in Arista Networks by 4,160.9% during the 2nd quarter. 1832 Asset Management L.P. now owns 515,700 shares of the technology company’s stock valued at $180,743,000 after purchasing an additional 503,597 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Rosenblatt Securities lifted their target price on Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a research report on Wednesday, July 31st. Barclays lifted their price objective on shares of Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Citigroup increased their target price on shares of Arista Networks from $385.00 to $460.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $375.00 price target on shares of Arista Networks in a report on Wednesday, July 31st. Finally, KeyCorp increased their price objective on shares of Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $373.88.

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.