Charles H. Giancarlo Sells 8,000 Shares of Arista Networks, Inc. (NYSE:ANET) Stock

Arista Networks, Inc. (NYSE:ANET) Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $89.03, for a total transaction of $712,240.00. Following the completion of the sale, the director now directly owns 147,784 shares of the company’s stock, valued at approximately $13,157,209.52. This trade represents a 5.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Arista Networks Stock Performance

Arista Networks stock opened at $87.83 on Thursday. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.57. The firm’s 50-day simple moving average is $110.13 and its 200 day simple moving average is $102.14. The stock has a market cap of $110.76 billion, a PE ratio of 39.56, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09.

Arista Networks (NYSE:ANET) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. As a group, analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on the company. The Goldman Sachs Group boosted their target price on Arista Networks from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Citigroup upped their target price on Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Wells Fargo & Company increased their target price on Arista Networks from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. StockNews.com lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Finally, Morgan Stanley raised their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $114.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ANET. Zions Bancorporation N.A. boosted its holdings in shares of Arista Networks by 6.9% in the 3rd quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock worth $160,000 after buying an additional 27 shares during the last quarter. Intellectus Partners LLC boosted its stake in 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 acquiring an additional 27 shares during the last quarter. Altman Advisors Inc. grew its position 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 valued at $2,250,000 after acquiring an additional 28 shares during the period. Beacon Financial Advisory LLC grew its position in shares of Arista Networks by 4.9% during the 3rd quarter. Beacon Financial Advisory LLC now owns 640 shares of the technology company’s stock valued at $246,000 after acquiring an additional 30 shares during the period. Finally, Forum Financial Management LP increased its stake in shares of Arista Networks by 1.5% during the 3rd quarter. Forum Financial Management LP now owns 2,268 shares of the technology company’s stock worth $871,000 after purchasing an additional 33 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

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.