John F. Mccool Sells 288 Shares of Arista Networks, Inc. (NYSE:ANET) Stock

Arista Networks, Inc. (NYSE:ANET) insider John F. Mccool sold 288 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $108.70, for a total transaction of $31,305.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Arista Networks Price Performance

Shares of NYSE ANET traded up $2.47 on Wednesday, hitting $107.25. The company’s stock had a trading volume of 4,755,792 shares, compared to its average volume of 8,848,114. The stock has a 50 day moving average of $100.46 and a 200-day moving average of $90.61. The company has a market capitalization of $135.11 billion, a price-to-earnings ratio of 51.60, a price-to-earnings-growth ratio of 3.24 and a beta of 1.10. Arista Networks, Inc. has a 12-month low of $56.34 and a 12-month high of $110.74.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Thursday, November 7th. The technology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.41 earnings per share. Sell-side analysts expect that Arista Networks, Inc. will post 1.96 EPS for the current fiscal year.

Institutional Trading of Arista Networks

Institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp lifted its position in Arista Networks by 3.8% during the third quarter. State Street Corp now owns 11,237,635 shares of the technology company’s stock valued at $4,313,229,000 after buying an additional 411,109 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Arista Networks by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 5,871,481 shares of the technology company’s stock valued at $2,246,705,000 after acquiring an additional 236,151 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Arista Networks by 22.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,660,695 shares of the technology company’s stock valued at $1,021,228,000 after acquiring an additional 492,615 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Arista Networks by 4.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,283,573 shares of the technology company’s stock worth $876,481,000 after purchasing an additional 99,790 shares during the period. Finally, Legal & General Group Plc increased its holdings in Arista Networks by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 2,195,733 shares of the technology company’s stock valued at $769,560,000 after purchasing an additional 20,278 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ANET has been the subject of a number of recent research reports. The Goldman Sachs Group increased their price objective on Arista Networks from $97.50 to $107.50 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Piper Sandler reaffirmed a “neutral” rating and set a $105.25 price target (up from $86.25) on shares of Arista Networks in a report on Friday, November 8th. Barclays dropped their price objective on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. Citigroup raised their target price on shares of Arista Networks from $96.25 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, UBS Group boosted their price target on shares of Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, Arista Networks presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.88.

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.