Arista Networks, Inc. (NYSE:ANET) insider Anshul Sadana sold 12,000 shares of the business’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $154.51, for a total value of $1,854,120.00. Following the completion of the sale, the insider now directly owns 99,841 shares of the company’s stock, valued at approximately $15,426,432.91. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Shares of Arista Networks, Inc. (NYSE:ANET) opened at 157.63 on Thursday. Arista Networks, Inc. has a 52 week low of $68.75 and a 52 week high of $162.97. The firm’s 50-day moving average price is $153.09 and its 200 day moving average price is $129.92. The stock has a market capitalization of $11.35 billion, a P/E ratio of 50.91 and a beta of 1.35.
Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Thursday, May 4th. The technology company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.09. The business had revenue of $335.48 million for the quarter, compared to the consensus estimate of $326.19 million. Arista Networks had a return on equity of 20.94% and a net margin of 18.95%. The business’s quarterly revenue was up 38.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.68 earnings per share. Analysts expect that Arista Networks, Inc. will post $3.96 earnings per share for the current year.
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A number of equities research analysts have recently weighed in on ANET shares. Goldman Sachs Group, Inc. (The) raised Arista Networks from a “sell” rating to a “neutral” rating and boosted their target price for the company from $68.00 to $125.00 in a research note on Monday, March 27th. Credit Suisse Group lowered Arista Networks from an “outperform” rating to a “neutral” rating and set a $140.00 price target for the company. in a research report on Thursday, April 27th. They noted that the move was a valuation call. Citigroup Inc. upped their price target on Arista Networks from $115.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, March 24th. JMP Securities upped their price target on Arista Networks from $145.00 to $155.00 and gave the company an “outperform” rating in a research report on Monday, May 15th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $162.00 price target (up previously from $150.00) on shares of Arista Networks in a research report on Friday, May 5th. Sixteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Arista Networks currently has an average rating of “Buy” and a consensus target price of $139.65.
Large investors have recently made changes to their positions in the stock. LS Investment Advisors LLC bought a new stake in shares of Arista Networks during the second quarter worth $119,000. SG Americas Securities LLC bought a new stake in shares of Arista Networks during the first quarter worth $164,000. Financial Architects Inc raised its stake in shares of Arista Networks by 232.0% in the first quarter. Financial Architects Inc now owns 1,255 shares of the technology company’s stock worth $166,000 after buying an additional 877 shares during the period. Comerica Bank bought a new stake in shares of Arista Networks during the fourth quarter worth $205,000. Finally, Clinton Group Inc. bought a new stake in shares of Arista Networks during the first quarter worth $205,000. 60.61% of the stock is currently owned by hedge funds and other institutional investors.
About Arista Networks
Arista Networks, Inc is a supplier of cloud networking solutions that use software innovations to address the needs of Internet companies, cloud service providers and data centers for enterprise support. It develops, markets and sells cloud networking solutions, which consist of its Gigabit Ethernet switches and related software.
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