Insider Selling: Arista Networks (NYSE:ANET) Major Shareholder Sells $43,017,000.00 in Stock

Arista Networks, Inc. (NYSE:ANET) major shareholder Andreas Bechtolsheim sold 260,000 shares of Arista Networks stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $165.45, for a total transaction of $43,017,000.00. Following the transaction, the insider directly owned 179,755,156 shares of the company’s stock, valued at approximately $29,740,490,560.20. This represents a 0.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Andreas Bechtolsheim also recently made the following trade(s):

• On Friday, October 30th, Andreas Bechtolsheim sold 267,892 shares of Arista Networks stock. The stock was sold at an average price of $171.19, for a total transaction of $45,860,431.48.
• On Thursday, September 17th, Andreas Bechtolsheim sold 300,000 shares of Arista Networks stock. The stock was sold at an average price of $198.95, for a total transaction of $59,685,000.00.
• On Thursday, August 27th, Andreas Bechtolsheim sold 300,000 shares of Arista Networks stock. The stock was sold at an average price of $202.60, for a total transaction of $60,780,000.00.

Arista Networks Price Performance

Shares of NYSE:ANET opened at $196.81 on Thursday. Arista Networks, Inc. has a 1 year low of $114.52 and a 1 year high of $217.41. The business has a 50 day simple moving average of $192.35 and a two-hundred day simple moving average of $166.53. The firm has a market capitalization of $248.65 billion, a PE ratio of 52.91, a price-to-earnings-growth ratio of 1.65 and a beta of 1.61.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, November 3rd. The technology company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.12. Arista Networks had a return on equity of 32.20% and a net margin of 39.97%. The firm had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same period in the prior year, the business posted $0.75 earnings per share. The company’s revenue for the quarter was up 58.5% on a year-over-year basis. Equities research analysts expect that Arista Networks, Inc. will post 4.01 EPS for the current fiscal year.

Top Arista Networks Stories

These are some of the ANET stories that stood out recently:

• Positive Sentiment: An AI-cloud rebound lifted networking shares, and Arista’s fourth-quarter revenue guidance of $3.9 billion to $4.0 billion offered investors a concrete growth catalyst. Arista Networks Stocks Climb as AI Cloud Rebound Lifts Networking Leader
• Neutral Sentiment: Co-founder Andreas Bechtolsheim has sold about $668 million of shares since May, but reports say the transactions were made under a pre-arranged trading plan. He retains a very large stake, which may temper concerns that the sales signal a change in outlook. Arista’s Co-Founder Has Sold About $668 Million of Stock Since May
• Negative Sentiment: A wider AI-stock sell-off remains a near-term risk, and Arista underperformed some competitors despite rising in Wednesday’s session. Sector volatility could limit gains even as company-specific fundamentals remain strong. Arista Networks stock underperforms competitors despite gains

Analysts Set New Price Targets

A number of analysts have weighed in on ANET shares. Weiss Ratings lowered Arista Networks from a “buy (b)” rating to a “hold (c+)” rating in a research note on Wednesday, November 4th. Morgan Stanley reiterated an “overweight” rating and set a $230.00 target price (up from $220.00) on shares of Arista Networks in a research report on Wednesday, November 4th. Rosenblatt Securities reissued a “buy” rating and set a $280.00 target price on shares of Arista Networks in a research note on Wednesday, November 4th. Melius Research set a $305.00 target price on shares of Arista Networks in a research note on Wednesday, November 4th. Finally, Needham & Company LLC restated a “buy” rating and issued a $260.00 price target on shares of Arista Networks in a report on Wednesday, November 4th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Arista Networks presently has a consensus rating of “Buy” and a consensus target price of $240.24.

Institutional Trading of Arista Networks

Institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp grew its stake in Arista Networks by 159.4% in the second quarter. State Street Corp now owns 121,303,125 shares of the technology company’s stock worth $20,606,975,000 after purchasing an additional 74,541,134 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Arista Networks by 34.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 9,725,196 shares of the technology company’s stock worth $1,712,788,000 after purchasing an additional 2,497,275 shares during the period. Envestnet Asset Management Inc. increased its holdings in Arista Networks by 199.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 9,630,196 shares of the technology company’s stock worth $1,635,978,000 after purchasing an additional 6,409,612 shares during the period. Deutsche Bank AG raised its position in Arista Networks by 4.3% during the 2nd quarter. Deutsche Bank AG now owns 9,357,496 shares of the technology company’s stock valued at $1,589,651,000 after purchasing an additional 388,354 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in Arista Networks by 5.9% during the 2nd quarter. Wellington Management Group LLP now owns 8,440,963 shares of the technology company’s stock valued at $1,433,951,000 after purchasing an additional 470,451 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Arista Networks Company Profile

Arista Networks, Inc. develops software-driven networking products for large data centers, cloud environments, AI workloads, and enterprise campuses. Its offerings include Ethernet switches and routers, along with software and services for managing, monitoring, and securing networks. The company’s software portfolio includes its Extensible Operating System (EOS), which runs across its networking platforms, and CloudVision, a platform for network automation and management. Arista’s products are used by cloud providers, businesses, and other organizations to connect and manage computing infrastructure.