Arista Networks, Inc. (NYSE:ANET – Get Rating) Director Charles H. Giancarlo sold 100 shares of the business's stock in a transaction on Thursday, January 26th. The shares were sold at an average price of $125.00, for a total transaction of $12,500.00. Following the sale, the director now owns 90,846 shares of the company's stock, valued at $11,355,750. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Arista Networks Price Performance
Shares of NYSE:ANET traded down $2.22 during trading on Monday, reaching $123.84. 1,773,857 shares of the company were exchanged, compared to its average volume of 2,168,083. The firm has a market capitalization of $37.84 billion, a PE ratio of 33.65, a P/E/G ratio of 1.58 and a beta of 1.30. The business's fifty day simple moving average is $124.04 and its 200-day simple moving average is $120.16. Arista Networks, Inc. has a 12-month low of $89.11 and a 12-month high of $143.57.
Get Arista Networks alerts:Arista Networks (NYSE:ANET – Get Rating) last issued its earnings results on Monday, October 31st. The technology company reported $1.13 EPS for the quarter, topping analysts' consensus estimates of $0.91 by $0.22. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.06 billion. Arista Networks had a net margin of 29.63% and a return on equity of 27.23%. The company's quarterly revenue was up 57.2% compared to the same quarter last year. During the same period last year, the company posted $0.60 earnings per share. On average, sell-side analysts anticipate that Arista Networks, Inc. will post 3.81 EPS for the current fiscal year.
Hedge Funds Weigh In On Arista Networks
Institutional investors have recently modified their holdings of the stock. Trifecta Capital Advisors LLC purchased a new position in Arista Networks during the fourth quarter valued at approximately $27,000. Janiczek Wealth Management LLC grew its holdings in Arista Networks by 73.0% in the third quarter. Janiczek Wealth Management LLC now owns 275 shares of the technology company's stock worth $30,000 after purchasing an additional 116 shares during the last quarter. MV Capital Management Inc. grew its holdings in Arista Networks by 172.7% in the third quarter. MV Capital Management Inc. now owns 270 shares of the technology company's stock worth $30,000 after purchasing an additional 171 shares during the last quarter. Clear Street Markets LLC grew its holdings in Arista Networks by 415.2% in the second quarter. Clear Street Markets LLC now owns 474 shares of the technology company's stock worth $44,000 after purchasing an additional 382 shares during the last quarter. Finally, CX Institutional purchased a new position in Arista Networks in the second quarter worth $58,000. 64.30% of the stock is owned by hedge funds and other institutional investors.Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on ANET shares. Needham & Company LLC boosted their target price on shares of Arista Networks from $140.00 to $155.00 and gave the company a "buy" rating in a research note on Friday, November 4th. Piper Sandler reduced their price objective on Arista Networks from $164.00 to $155.00 in a research note on Tuesday, January 17th. Barclays increased their price target on Arista Networks from $131.00 to $143.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 1st. Rosenblatt Securities increased their price target on Arista Networks from $160.00 to $175.00 and gave the stock a "buy" rating in a research note on Monday, November 21st. Finally, Cowen increased their price target on Arista Networks from $203.00 to $212.00 and gave the stock an "outperform" rating in a research note on Tuesday, December 13th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $167.79.
About Arista Networks
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Arista Networks, Inc engages in the development, marketing, and sale of cloud networking solutions. Its cloud networking solutions consist of Extensible Operating System (EOS), a set of network applications and Ethernet switching, and routing platforms. The company was founded by Andreas Bechtolsheim, David Cheriton, and Kenneth Duda in October 2004 and is headquartered in Santa Clara, CA.
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