Insider Selling: Arista Networks, Inc. (NYSE:ANET) SVP Sells 624 Shares of Stock

Arista Networks, Inc. (NYSE:ANET) SVP Marc Taxay sold 624 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $387.33, for a total transaction of $241,693.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, October 1st, Marc Taxay sold 624 shares of Arista Networks stock. The shares were sold at an average price of $388.37, for a total value of $242,342.88.
• On Tuesday, September 3rd, Marc Taxay sold 4,497 shares of Arista Networks stock. The stock was sold at an average price of $336.32, for a total transaction of $1,512,431.04.

Arista Networks Stock Performance

ANET traded up $10.40 during trading on Tuesday, hitting $405.28. The stock had a trading volume of 1,146,689 shares, compared to its average volume of 2,190,792. Arista Networks, Inc. has a twelve month low of $203.19 and a twelve month high of $422.73. The firm has a market capitalization of $127.32 billion, a P/E ratio of 51.75, a PEG ratio of 3.47 and a beta of 1.08. The company’s 50-day moving average price is $377.14 and its 200 day moving average price is $340.79.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Beacon Capital Management LLC grew its stake in Arista Networks by 500.0% in the 2nd quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after acquiring an additional 65 shares during the last quarter. LGT Financial Advisors LLC purchased a new stake in shares of Arista Networks in the second quarter valued at $27,000. Byrne Asset Management LLC acquired a new stake in shares of Arista Networks during the second quarter valued at $33,000. Sugarloaf Wealth Management LLC acquired a new position in Arista Networks in the 2nd quarter valued at about $35,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Arista Networks during the second quarter valued at approximately $35,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on ANET shares. Piper Sandler lifted their price objective on shares of Arista Networks from $302.00 to $345.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Citigroup increased their price objective on Arista Networks from $385.00 to $460.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. UBS Group upped their target price on shares of Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Needham & Company LLC reissued a “buy” rating and issued a $375.00 price objective on shares of Arista Networks in a research note on Wednesday, July 31st. Finally, KeyCorp upped their target price 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 equities research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $373.88.

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.