Arista Networks, Inc. (NYSE:ANET) Insider John F. Mccool Sells 1,585 Shares

Arista Networks, Inc. (NYSE:ANET) insider John F. Mccool sold 1,585 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $394.33, for a total transaction of $625,013.05. Following the transaction, the insider now directly owns 72 shares in the company, valued at $28,391.76. This trade represents a 95.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Arista Networks Stock Performance

NYSE ANET opened at $402.26 on Thursday. The stock has a fifty day moving average of $395.77 and a 200-day moving average of $355.65. The stock has a market capitalization of $126.69 billion, a P/E ratio of 48.35, a price-to-earnings-growth ratio of 3.22 and a beta of 1.08. Arista Networks, Inc. has a 52 week low of $210.69 and a 52 week high of $431.97.

Shares of Arista Networks are scheduled to split on Wednesday, December 4th. The 4-1 split was announced on Thursday, November 7th. The newly issued shares will be issued to shareholders after the market closes on Tuesday, December 3rd.

Arista Networks (NYSE:ANET) last released its earnings results on Thursday, November 7th. The technology company reported $2.40 EPS for the quarter, beating the consensus estimate of $2.08 by $0.32. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same period last year, the firm earned $1.63 EPS. The business’s revenue for the quarter was up 20.0% on a year-over-year basis. Equities research analysts forecast that Arista Networks, Inc. will post 7.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arista Networks

A number of institutional investors have recently made changes to their positions in the stock. Zions Bancorporation N.A. grew its stake in shares of Arista Networks by 6.9% during the third quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock worth $160,000 after purchasing an additional 27 shares during the period. Intellectus Partners LLC grew its stake in shares of Arista Networks by 1.4% during the third quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock worth $740,000 after purchasing an additional 27 shares during the period. First Affirmative Financial Network grew its stake in shares of Arista Networks by 4.3% during the third quarter. First Affirmative Financial Network now owns 682 shares of the technology company’s stock worth $262,000 after purchasing an additional 28 shares during the period. Altman Advisors Inc. grew its stake in shares of Arista Networks by 0.5% during the third quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock worth $2,250,000 after purchasing an additional 28 shares during the period. Finally, FCG Investment Co grew its stake in Arista Networks by 2.3% in the second quarter. FCG Investment Co now owns 1,271 shares of the technology company’s stock valued at $445,000 after acquiring an additional 29 shares during the period. 82.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Citigroup boosted their price target on shares of Arista Networks from $385.00 to $460.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Piper Sandler reissued a “neutral” rating and issued a $421.00 price target (up previously from $345.00) on shares of Arista Networks in a report on Friday, November 8th. Rosenblatt Securities boosted their price target on shares of Arista Networks from $265.00 to $320.00 and gave the company a “sell” rating in a report on Friday, November 8th. Finally, The Goldman Sachs Group boosted their price target on shares of Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $395.19.

Arista Networks Company Profile

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.