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

Arista Networks, Inc. (NYSE:ANET) insider John F. Mccool sold 1,585 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $394.33, for a total transaction of $625,013.05. Following the transaction, the insider now owns 72 shares in the company, valued at approximately $28,391.76. This trade represents a 95.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Arista Networks Trading Down 1.6 %

Shares of ANET stock opened at $399.79 on Tuesday. The company has a market capitalization of $125.91 billion, a P/E ratio of 48.05, a P/E/G ratio of 3.28 and a beta of 1.08. Arista Networks, Inc. has a 12-month low of $210.69 and a 12-month high of $431.97. The business’s 50 day moving average is $394.02 and its two-hundred day moving average is $354.66.

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

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Thursday, November 7th. The technology company reported $2.40 EPS for the quarter, topping the consensus estimate of $2.08 by $0.32. The company had revenue of $1.81 billion during 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 revenue was up 20.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.63 EPS. On average, research analysts predict that Arista Networks, Inc. will post 7.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on ANET. Barclays upped their price target on shares of Arista Networks from $341.00 to $495.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Piper Sandler restated a “neutral” rating and issued a $421.00 target price (up previously from $345.00) on shares of Arista Networks in a research note on Friday, November 8th. UBS Group boosted their price target on Arista Networks from $369.00 to $425.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Jefferies Financial Group raised their price objective on Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Citigroup increased their price target on shares of Arista Networks from $385.00 to $460.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, Arista Networks presently has an average rating of “Moderate Buy” and a consensus target price of $395.19.

Institutional Inflows and Outflows

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

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.