Insider Selling: Arista Networks, Inc. (NYSE:ANET) Insider Sells $11,436.32 in Stock

Arista Networks, Inc. (NYSE:ANET) insider John F. Mccool sold 112 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $102.11, for a total value of $11,436.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Arista Networks Stock Down 4.9 %

NYSE:ANET opened at $98.31 on Monday. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.57. The firm has a market capitalization of $123.97 billion, a price-to-earnings ratio of 44.28, a price-to-earnings-growth ratio of 3.27 and a beta of 1.09. The stock’s 50 day moving average price is $113.66 and its two-hundred day moving average price is $102.01.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. As a group, analysts anticipate that Arista Networks, Inc. will post 2.19 earnings per share for the current year.

Institutional Investors Weigh In On Arista Networks

A number of institutional investors and hedge funds have recently modified their holdings of ANET. Vanguard Group Inc. increased its position in Arista Networks by 304.2% during the fourth quarter. Vanguard Group Inc. now owns 96,084,951 shares of the technology company’s stock worth $10,620,270,000 after buying an additional 72,311,318 shares during the last quarter. FMR LLC increased its holdings in shares of Arista Networks by 330.9% during the 4th quarter. FMR LLC now owns 57,648,129 shares of the technology company’s stock worth $6,371,848,000 after acquiring an additional 44,269,572 shares during the last quarter. Cresset Asset Management LLC raised its stake in Arista Networks by 277.5% in the 4th quarter. Cresset Asset Management LLC now owns 27,288,583 shares of the technology company’s stock valued at $3,016,207,000 after acquiring an additional 20,059,303 shares during the period. Geode Capital Management LLC lifted its holdings in Arista Networks by 311.6% during the 4th quarter. Geode Capital Management LLC now owns 24,165,355 shares of the technology company’s stock valued at $2,665,829,000 after purchasing an additional 18,293,874 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its position in Arista Networks by 218.5% during the fourth quarter. Alliancebernstein L.P. now owns 21,070,016 shares of the technology company’s stock worth $2,328,869,000 after purchasing an additional 14,454,822 shares during the period. 82.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on ANET. Evercore ISI increased their target price on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Rosenblatt Securities reissued a “sell” rating and set a $80.00 price objective on shares of Arista Networks in a research report on Tuesday, February 18th. Wells Fargo & Company boosted their price objective on shares of Arista Networks from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Barclays increased their target price on Arista Networks from $125.00 to $126.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Finally, Piper Sandler restated a “neutral” rating and issued a $108.00 price target (up from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Arista Networks has a consensus rating of “Moderate Buy” and an average target price of $113.79.

About Arista Networks

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.