Arista Networks, Inc. (NYSE:ANET) Insider John F. Mccool Sells 112 Shares

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

Arista Networks Trading Down 4.9 %

NYSE ANET opened at $98.31 on Monday. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.57. The company has a market capitalization of $123.97 billion, a PE ratio of 44.28, a P/E/G ratio of 3.27 and a beta of 1.09. The stock has a 50-day simple moving average of $113.66 and a 200 day simple moving average of $102.01.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, beating 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, sell-side analysts predict that Arista Networks, Inc. will post 2.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Piper Sandler reissued a “neutral” rating and issued a $108.00 target price (up from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. Needham & Company LLC restated a “buy” rating and set a $145.00 target price on shares of Arista Networks in a report on Wednesday, February 19th. Evercore ISI lifted their price target on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Rosenblatt Securities reissued a “sell” rating and set a $80.00 price objective on shares of Arista Networks in a report on Tuesday, February 18th. Finally, UBS Group boosted their target price on shares of Arista Networks from $106.00 to $112.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $113.79.

Hedge Funds Weigh In On Arista Networks

A number of hedge funds and other institutional investors have recently made changes to their positions in ANET. Foundations Investment Advisors LLC grew its stake in Arista Networks by 5.0% in the third quarter. Foundations Investment Advisors LLC now owns 653 shares of the technology company’s stock valued at $251,000 after acquiring an additional 31 shares during the period. Sequoia Financial Advisors LLC grew its position in shares of Arista Networks by 5.6% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,917 shares of the technology company’s stock valued at $2,271,000 after purchasing an additional 316 shares during the period. Waldron Private Wealth LLC bought a new stake in Arista Networks during the 3rd quarter worth approximately $203,000. Private Advisor Group LLC raised its holdings in Arista Networks by 14.4% during the 3rd quarter. Private Advisor Group LLC now owns 14,868 shares of the technology company’s stock worth $5,706,000 after buying an additional 1,867 shares during the period. Finally, International Assets Investment Management LLC lifted its stake in Arista Networks by 39,841.1% in the third quarter. International Assets Investment Management LLC now owns 875,110 shares of the technology company’s stock valued at $3,358,850,000 after buying an additional 872,919 shares in the last quarter. 82.47% of the stock is owned by institutional investors.

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.