Arista Networks, Inc. (NYSE:ANET) Director Sells $147,887.04 in Stock

Arista Networks, Inc. (NYSE:ANET) Director Kelly Bodnar Battles sold 373 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $396.48, for a total transaction of $147,887.04. Following the sale, the director now directly owns 2,192 shares in the company, valued at $869,084.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Kelly Bodnar Battles also recently made the following trade(s):

• On Monday, September 16th, Kelly Bodnar Battles sold 372 shares of Arista Networks stock. The stock was sold at an average price of $356.74, for a total transaction of $132,707.28.
• On Tuesday, August 6th, Kelly Bodnar Battles sold 216 shares of Arista Networks stock. The stock was sold at an average price of $324.02, for a total transaction of $69,988.32.

Arista Networks Stock Performance

ANET stock traded up $1.53 during midday trading on Thursday, reaching $395.57. 1,113,209 shares of the company were exchanged, compared to its average volume of 2,225,495. Arista Networks, Inc. has a 1-year low of $168.25 and a 1-year high of $422.73. The stock’s 50-day simple moving average is $370.52 and its 200 day simple moving average is $333.77. The company has a market cap of $123.96 billion, a price-to-earnings ratio of 55.11, a price-to-earnings-growth ratio of 3.21 and a beta of 1.07.

Arista Networks (NYSE:ANET) last announced its earnings results on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.38. The business had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.66 billion. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The company’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.41 EPS. On average, research analysts anticipate that Arista Networks, Inc. will post 7.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Wells Fargo & Company upped their price objective on shares of Arista Networks from $340.00 to $390.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $375.00 target price on shares of Arista Networks in a research note on Wednesday, July 31st. Rosenblatt Securities increased their target price on shares of Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. raised their target price on shares of Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, Evercore ISI raised their target price on shares of Arista Networks from $400.00 to $425.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $369.50.

Hedge Funds Weigh In On Arista Networks

Hedge funds and other institutional investors have recently bought and sold shares of the company. Beacon Capital Management LLC grew its position in Arista Networks by 500.0% in the 2nd quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after buying an additional 65 shares during the last quarter. LGT Financial Advisors LLC purchased a new stake in shares of Arista Networks during the 2nd quarter worth $27,000. Byrne Asset Management LLC purchased a new stake in shares of Arista Networks during the 2nd quarter worth $33,000. Sugarloaf Wealth Management LLC purchased a new stake in shares of Arista Networks during the 2nd quarter worth $35,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Arista Networks during the 2nd quarter worth $35,000. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

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.