Arista Networks, Inc. (NYSE:ANET) Insider Sells $625,013.05 in Stock

Arista Networks, Inc. (NYSE:ANET) insider John F. Mccool sold 1,585 shares of Arista Networks stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $394.33, for a total transaction of $625,013.05. Following the completion of the sale, the insider now owns 72 shares in the company, valued at approximately $28,391.76. This represents a 95.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Arista Networks Stock Down 1.5 %

NYSE ANET opened at $402.26 on Thursday. The stock has a market capitalization of $126.69 billion, a PE ratio of 48.35, a price-to-earnings-growth ratio of 3.22 and a beta of 1.08. The company has a 50 day moving average price of $395.77 and a two-hundred day moving average price of $355.65. Arista Networks, Inc. has a 12-month low of $210.69 and a 12-month high of $431.97.

Shares of Arista Networks are scheduled to split before the market opens on Wednesday, December 4th. The 4-1 split was announced on Thursday, November 7th. The newly minted shares will be distributed to shareholders after the market closes on Tuesday, December 3rd.

Arista Networks (NYSE:ANET) last posted its earnings results on Thursday, November 7th. The technology company reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.32. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The company’s revenue was up 20.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.63 earnings per share. As a group, equities analysts anticipate that Arista Networks, Inc. will post 7.75 EPS for the current year.

Institutional Trading of Arista Networks

A number of institutional investors and hedge funds have recently modified their holdings of ANET. Beacon Capital Management LLC lifted its stake in shares of Arista Networks by 500.0% in the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock worth $27,000 after buying an additional 65 shares during the last quarter. LGT Financial Advisors LLC acquired a new stake in shares of Arista Networks in the second quarter worth $27,000. Byrne Asset Management LLC acquired a new stake in shares of Arista Networks in the second quarter worth $33,000. Sugarloaf Wealth Management LLC acquired a new stake in shares of Arista Networks in the second quarter worth $35,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in Arista Networks during the second quarter worth $35,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Barclays lifted their price objective on shares of Arista Networks from $341.00 to $495.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. lifted their price objective on shares of Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Evercore ISI raised their target price on shares of Arista Networks from $400.00 to $425.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. UBS Group raised their target price on shares of Arista Networks from $369.00 to $425.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, Jefferies Financial Group raised their target price on shares of Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $395.19.

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.