Yvonne Wassenaar Sells 168 Shares of Arista Networks, Inc. (NYSE:ANET) Stock

Arista Networks, Inc. (NYSE:ANET) Director Yvonne Wassenaar sold 168 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $121.02, for a total value of $20,331.36. Following the sale, the director now owns 13,428 shares in the company, valued at approximately $1,625,056.56. This represents a 1.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Arista Networks Price Performance

Shares of NYSE ANET opened at $129.09 on Friday. The stock has a market capitalization of $162.63 billion, a P/E ratio of 62.06, a PEG ratio of 3.49 and a beta of 1.08. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.58. The firm’s 50 day simple moving average is $110.68 and its two-hundred day simple moving average is $98.16.

Arista Networks (NYSE:ANET) last released its earnings results 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 company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.76 billion. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The firm’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.41 EPS. As a group, equities analysts expect that Arista Networks, Inc. will post 1.97 earnings per share for the current fiscal year.

Analyst Ratings Changes

ANET has been the topic of a number of recent research reports. Piper Sandler reissued a “neutral” rating and set a $105.25 price objective (up previously from $86.25) on shares of Arista Networks in a report on Friday, November 8th. The Goldman Sachs Group raised their price objective on shares of Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Citigroup upped their target price on shares of Arista Networks from $96.25 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Rosenblatt Securities increased their price objective on Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a research report on Friday, November 8th. Finally, Barclays dropped their price objective on Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $105.83.

Institutional Investors Weigh In On Arista Networks

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Cranbrook Wealth Management LLC increased its stake in Arista Networks by 300.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock worth $29,000 after purchasing an additional 198 shares during the period. Trust Co. of Vermont raised its holdings in Arista Networks by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after buying an additional 198 shares during the last quarter. New Millennium Group LLC boosted its position in Arista Networks by 300.0% during the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after buying an additional 195 shares during the period. Westside Investment Management Inc. grew its holdings in Arista Networks by 1,012.0% in the 4th quarter. Westside Investment Management Inc. now owns 278 shares of the technology company’s stock worth $31,000 after acquiring an additional 253 shares during the last quarter. Finally, Costello Asset Management INC increased its position in shares of Arista Networks by 300.0% in the fourth quarter. Costello Asset Management INC now owns 300 shares of the technology company’s stock valued at $33,000 after acquiring an additional 225 shares during the period. Institutional investors own 82.47% of the company’s stock.

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.