Arista Networks, Inc. (NYSE:ANET) Director Kelly Bodnar Battles Sells 372 Shares

Arista Networks, Inc. (NYSE:ANET) Director Kelly Bodnar Battles sold 372 shares of Arista Networks stock in a transaction on Monday, September 16th. The shares were sold at an average price of $356.74, for a total value of $132,707.28. Following the completion of the sale, the director now directly owns 2,565 shares of the company’s stock, valued at $915,038.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Kelly Bodnar Battles also recently made the following trade(s):

• On Tuesday, August 6th, Kelly Bodnar Battles sold 216 shares of Arista Networks stock. The shares were sold at an average price of $324.02, for a total value of $69,988.32.

Arista Networks Stock Up 1.4 %

Shares of ANET stock opened at $384.46 on Friday. Arista Networks, Inc. has a 12-month low of $168.25 and a 12-month high of $385.50. The firm has a fifty day moving average of $341.55 and a 200-day moving average of $316.46. The company has a market capitalization of $120.48 billion, a price-to-earnings ratio of 53.55, a P/E/G ratio of 2.70 and a beta of 1.07.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.38. The firm had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The company’s revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.41 EPS. On average, equities analysts expect that Arista Networks, Inc. will post 7.38 EPS for the current year.

Institutional Investors Weigh In On Arista Networks

A number of hedge funds and other institutional investors have recently bought and sold shares of ANET. FCG Investment Co grew its stake in shares of Arista Networks by 2.3% during the 2nd quarter. FCG Investment Co now owns 1,271 shares of the technology company’s stock worth $445,000 after acquiring an additional 29 shares in the last quarter. Old Port Advisors boosted its holdings in Arista Networks by 3.5% during the first quarter. Old Port Advisors now owns 955 shares of the technology company’s stock worth $277,000 after purchasing an additional 32 shares during the last quarter. Fortitude Family Office LLC grew its position in Arista Networks by 33.3% in the second quarter. Fortitude Family Office LLC now owns 132 shares of the technology company’s stock valued at $46,000 after purchasing an additional 33 shares in the last quarter. Resonant Capital Advisors LLC increased its stake in Arista Networks by 4.1% in the 2nd quarter. Resonant Capital Advisors LLC now owns 870 shares of the technology company’s stock valued at $305,000 after buying an additional 34 shares during the last quarter. Finally, Modera Wealth Management LLC lifted its position in Arista Networks by 2.1% during the 2nd quarter. Modera Wealth Management LLC now owns 1,782 shares of the technology company’s stock worth $625,000 after buying an additional 37 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on ANET shares. Bank of America upped their target price on shares of Arista Networks from $320.00 to $380.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. JPMorgan Chase & Co. increased their price objective on shares of Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. KeyCorp lifted their target price on shares of Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Barclays upped their target price on shares of Arista Networks from $320.00 to $341.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, Jefferies Financial Group raised their price target on Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, Arista Networks currently has a consensus rating of “Moderate Buy” and an average price target of $358.63.

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.