Charles H. Giancarlo Sells 8,000 Shares of Arista Networks, Inc. (NYSE:ANET) Stock

Arista Networks, Inc. (NYSE:ANET) Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $112.02, for a total transaction of $896,160.00. Following the transaction, the director now owns 155,784 shares in the company, valued at $17,450,923.68. The trade was a 4.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Arista Networks Stock Performance

ANET stock traded up $3.11 during mid-day trading on Wednesday, hitting $115.43. The company had a trading volume of 6,410,468 shares, compared to its average volume of 9,178,810. The firm has a market cap of $145.41 billion, a PE ratio of 55.49, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.57. The stock’s fifty day moving average price is $112.28 and its two-hundred day moving average price is $99.36.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Thursday, November 7th. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.52 by $0.08. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.76 billion. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. Arista Networks’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.41 earnings per share. Equities analysts anticipate that Arista Networks, Inc. will post 1.97 earnings per share for the current year.

Institutional Investors Weigh In On Arista Networks

Institutional investors have recently added to or reduced their stakes in the business. SRS Capital Advisors Inc. raised its holdings in Arista Networks by 356.1% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,300 shares of the technology company’s stock valued at $144,000 after acquiring an additional 1,015 shares during the period. Clifford Swan Investment Counsel LLC increased its holdings in shares of Arista Networks by 289.4% in the 4th quarter. Clifford Swan Investment Counsel LLC now owns 613,781 shares of the technology company’s stock worth $67,841,000 after buying an additional 456,148 shares during the last quarter. Norden Group LLC bought a new stake in Arista Networks during the fourth quarter worth about $270,000. Smartleaf Asset Management LLC grew its position in Arista Networks by 332.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 9,524 shares of the technology company’s stock valued at $1,062,000 after acquiring an additional 7,322 shares during the last quarter. Finally, Mitchell Capital Management Co. raised its position in Arista Networks by 293.5% in the 4th quarter. Mitchell Capital Management Co. now owns 104,724 shares of the technology company’s stock worth $11,575,000 after purchasing an additional 78,108 shares during the period. 82.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ANET shares. Evercore ISI increased their price objective on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Wells Fargo & Company raised their price objective on Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group increased their target price on Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, January 17th. UBS Group upped their price objective on shares of Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, Citigroup boosted their target price on shares of Arista Networks from $96.25 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $105.83.

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.