Arista Networks, Inc. (NYSE:ANET - Get Free Report) insider John F. Mccool sold 580 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $292.28, for a total transaction of $169,522.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Arista Networks Trading Up 2.7 %
ANET stock opened at $298.79 on Thursday. Arista Networks, Inc. has a 12 month low of $131.68 and a 12 month high of $307.74. The company has a 50-day moving average price of $277.66 and a 200 day moving average price of $236.63. The stock has a market cap of $93.41 billion, a PE ratio of 45.48, a P/E/G ratio of 2.59 and a beta of 1.09.
Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, topping analysts' consensus estimates of $1.70 by $0.38. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The firm had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.53 billion. During the same period in the previous year, the company earned $1.25 EPS. The firm's revenue for the quarter was up 20.8% compared to the same quarter last year. Sell-side analysts forecast that Arista Networks, Inc. will post 6.63 EPS for the current year.
Institutional Investors Weigh In On Arista Networks
The “Next Bitcoin”? 10 CENT Crypto Set to Explode
From True Market Insiders | Ad
The man who bought Bitcoin and Ethereum in 2017… and has spotted 44 different coins that have returned over 100%...
Is now exposing a 10-cent coin that just partnered with Amazon…
Click For My #1 FREE Crypto for 2024
Several large investors have recently added to or reduced their stakes in ANET. Morgan Stanley lifted its position in shares of Arista Networks by 162.2% in the 4th quarter. Morgan Stanley now owns 5,549,335 shares of the technology company's stock worth $673,412,000 after purchasing an additional 3,432,952 shares during the period. Norges Bank purchased a new stake in shares of Arista Networks in the 4th quarter worth approximately $308,885,000. FMR LLC lifted its position in shares of Arista Networks by 32.2% in the 3rd quarter. FMR LLC now owns 10,318,633 shares of the technology company's stock worth $1,897,906,000 after purchasing an additional 2,515,864 shares during the period. Vanguard Group Inc. lifted its position in shares of Arista Networks by 5.7% in the 4th quarter. Vanguard Group Inc. now owns 29,494,876 shares of the technology company's stock worth $6,946,338,000 after purchasing an additional 1,596,040 shares during the period. Finally, Schroder Investment Management Group lifted its position in shares of Arista Networks by 439.3% in the 3rd quarter. Schroder Investment Management Group now owns 1,259,305 shares of the technology company's stock worth $231,624,000 after purchasing an additional 1,025,815 shares during the period. 82.47% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research analysts have recently weighed in on ANET shares. Piper Sandler lifted their price target on shares of Arista Networks from $254.00 to $268.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 13th. Citigroup lifted their target price on shares of Arista Networks from $220.00 to $300.00 and gave the company a "buy" rating in a research note on Thursday, December 14th. KeyCorp lifted their target price on shares of Arista Networks from $232.00 to $287.00 and gave the company an "overweight" rating in a research note on Thursday, January 18th. Barclays lifted their target price on shares of Arista Networks from $272.00 to $311.00 and gave the company an "overweight" rating in a research note on Tuesday, February 13th. Finally, Wells Fargo & Company lifted their target price on shares of Arista Networks from $225.00 to $310.00 and gave the company an "overweight" rating in a research note on Wednesday, February 7th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $275.59.
Check Out Our Latest Analysis on ANET
Arista Networks Company Profile
(
Get Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. This story was reviewed by InsiderTrades.com's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
