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 the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $112.02, for a total value of $896,160.00. Following the completion of the transaction, the director now directly owns 155,784 shares in the company, valued at $17,450,923.68. This represents a 4.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Arista Networks Trading Down 0.3 %

NYSE ANET opened at $115.11 on Friday. The firm has a market cap of $145.01 billion, a price-to-earnings ratio of 55.34, a PEG ratio of 3.10 and a beta of 1.09. The company has a 50 day moving average of $112.58 and a 200-day moving average of $99.48. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.57.

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, topping the consensus estimate of $0.52 by $0.08. The company 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 last year, the business posted $0.41 earnings per share. On average, analysts forecast that Arista Networks, Inc. will post 1.97 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on ANET shares. Piper Sandler reaffirmed a “neutral” rating and issued a $105.25 price target (up previously from $86.25) on shares of Arista Networks in a report on Friday, November 8th. Wells Fargo & Company boosted their target price on shares of Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Morgan Stanley boosted their target price 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. Evercore ISI boosted their target price on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Finally, The Goldman Sachs Group boosted their target price on shares of Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $105.83.

Institutional Trading of Arista Networks

Hedge funds have recently modified their holdings of the company. Silver Oak Securities Incorporated increased its holdings in shares of Arista Networks by 395.8% during the fourth quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company’s stock worth $2,072,000 after buying an additional 14,843 shares in the last quarter. GW Henssler & Associates Ltd. increased its holdings in shares of Arista Networks by 3.6% in the third quarter. GW Henssler & Associates Ltd. now owns 63,244 shares of the technology company’s stock valued at $24,274,000 after purchasing an additional 2,219 shares in the last quarter. Sumitomo Life Insurance Co. increased its holdings in shares of Arista Networks by 69.8% in the third quarter. Sumitomo Life Insurance Co. now owns 9,028 shares of the technology company’s stock valued at $3,465,000 after purchasing an additional 3,711 shares in the last quarter. Walkner Condon Financial Advisors LLC acquired a new stake in shares of Arista Networks in the third quarter valued at approximately $2,318,000. Finally, Greenleaf Trust increased its holdings in shares of Arista Networks by 20.1% in the third quarter. Greenleaf Trust now owns 13,224 shares of the technology company’s stock valued at $5,076,000 after purchasing an additional 2,216 shares in the last quarter. Institutional investors and hedge funds 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.