Arista Networks, Inc. (NYSE:ANET) Director Sells $20,331.36 in Stock

Arista Networks, Inc. (NYSE:ANET) Director Yvonne Wassenaar sold 168 shares of Arista Networks stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $121.02, for a total value of $20,331.36. Following the transaction, the director now owns 13,428 shares in the company, valued at approximately $1,625,056.56. This represents a 1.24 % 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 Trading Down 0.0 %

Shares of ANET opened at $129.09 on Friday. The company’s fifty day simple moving average is $109.97 and its 200 day simple moving average is $97.91. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.58. The company has a market cap of $162.63 billion, a price-to-earnings ratio of 62.06, a PEG ratio of 3.49 and a beta of 1.08.

Arista Networks (NYSE:ANET) last issued its earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period last year, the business posted $0.41 EPS. Arista Networks’s revenue was up 20.0% on a year-over-year basis. As a group, research analysts forecast that Arista Networks, Inc. will post 1.97 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ANET. Evercore ISI boosted their price objective on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. UBS Group upped their price target on shares of Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a report on Friday, November 8th. Piper Sandler restated a “neutral” rating and set a $105.25 price objective (up from $86.25) on shares of Arista Networks in a report on Friday, November 8th. Barclays reduced their target price 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. Finally, The Goldman Sachs Group upped their price objective on Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $105.83.

Institutional Inflows and Outflows

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

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.