Marc Taxay Sells 4,497 Shares of Arista Networks, Inc. (NYSE:ANET) Stock

Arista Networks, Inc. (NYSE:ANET) SVP Marc Taxay sold 4,497 shares of Arista Networks stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $336.32, for a total transaction of $1,512,431.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Marc Taxay also recently made the following trade(s):

• On Thursday, August 1st, Marc Taxay sold 628 shares of Arista Networks stock. The stock was sold at an average price of $350.50, for a total transaction of $220,114.00.
• On Monday, July 1st, Marc Taxay sold 624 shares of Arista Networks stock. The stock was sold at an average price of $354.71, for a total transaction of $221,339.04.

Arista Networks Stock Performance

Shares of ANET stock traded up $2.32 on Thursday, hitting $328.37. 1,612,709 shares of the company’s stock traded hands, compared to its average volume of 2,362,582. Arista Networks, Inc. has a one year low of $168.25 and a one year high of $376.50. The company’s fifty day simple moving average is $344.20 and its 200 day simple moving average is $310.18. The stock has a market capitalization of $102.90 billion, a price-to-earnings ratio of 45.73, a P/E/G ratio of 2.78 and a beta of 1.11.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, beating the consensus estimate of $1.72 by $0.38. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter last year, the firm earned $1.41 EPS. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Arista Networks, Inc. will post 7.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arista Networks

Large investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its stake in shares of Arista Networks by 7.4% during the 4th quarter. International Assets Investment Management LLC now owns 2,606 shares of the technology company’s stock valued at $614,000 after purchasing an additional 179 shares in the last quarter. Fisher Asset Management LLC lifted its position in Arista Networks by 15.2% during the 4th quarter. Fisher Asset Management LLC now owns 8,134 shares of the technology company’s stock valued at $1,916,000 after acquiring an additional 1,075 shares during the period. 9258 Wealth Management LLC purchased a new position in Arista Networks during the 4th quarter valued at about $240,000. Merit Financial Group LLC lifted its position in Arista Networks by 8.1% during the 4th quarter. Merit Financial Group LLC now owns 2,244 shares of the technology company’s stock valued at $528,000 after acquiring an additional 168 shares during the period. Finally, Summit Trail Advisors LLC lifted its position in Arista Networks by 6.6% during the 4th quarter. Summit Trail Advisors LLC now owns 1,606 shares of the technology company’s stock valued at $378,000 after acquiring an additional 100 shares during the period. Institutional investors own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ANET. Jefferies Financial Group lifted their target price on shares of Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Morgan Stanley increased their target price on shares of Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. increased their target price on shares of Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Citigroup increased their target price on shares of Arista Networks from $330.00 to $385.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Finally, Wells Fargo & Company increased their target price on shares of Arista Networks from $340.00 to $390.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Arista Networks presently has an average rating of “Moderate Buy” and a consensus target price of $358.63.

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.