Key Points
- Director Charles Giancarlo sold 8,000 shares of Arista Networks on Dec. 1 at an average price of $128.09 for a total of $1,024,720, reducing his stake by 23.68 to 25,784 shares (≈$3.30M).
- Arista recently reported stronger-than-expected results, posting $0.75 EPS vs. $0.72 consensus and revenue of $2.31B (up 27.5% YoY), with a net margin near 39.7%; analysts collectively rate the stock a "Moderate Buy" with a $164.31 consensus price target.
- Institutional ownership is high (≈82.5%) and several hedge funds/institutions increased positions in the latest quarter, while the company carries a market cap of about $161B and a 52-week range of $59.43–$164.94.
Arista Networks, Inc. (NYSE:ANET - Get Free Report) Director Charles Giancarlo sold 8,000 shares of the company's stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $128.09, for a total transaction of $1,024,720.00. Following the completion of the transaction, the director owned 25,784 shares of the company's stock, valued at approximately $3,302,672.56. This trade represents a 23.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Arista Networks Stock Performance
Shares of NYSE:ANET opened at $127.87 on Thursday. The firm has a market cap of $161.02 billion, a PE ratio of 48.62, a price-to-earnings-growth ratio of 2.46 and a beta of 1.41. The firm's fifty day moving average is $141.08 and its 200-day moving average is $124.90. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $164.94.
Arista Networks (NYSE:ANET - Get Free Report) last posted its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.72 by $0.03. The business had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.26 billion. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.Arista Networks's quarterly revenue was up 27.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.40 earnings per share. Sell-side analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current year.
Hedge Funds Weigh In On Arista Networks
A number of institutional investors and hedge funds have recently modified their holdings of ANET. IFP Advisors Inc grew its position in shares of Arista Networks by 8.3% during the 3rd quarter. IFP Advisors Inc now owns 7,659 shares of the technology company's stock worth $1,116,000 after buying an additional 584 shares during the period. Swiss Life Asset Management Ltd boosted its stake in Arista Networks by 8.8% during the third quarter. Swiss Life Asset Management Ltd now owns 421,851 shares of the technology company's stock worth $61,468,000 after acquiring an additional 34,258 shares in the last quarter. Tevis Investment Management grew its holdings in Arista Networks by 10.9% in the third quarter. Tevis Investment Management now owns 4,697 shares of the technology company's stock worth $684,000 after purchasing an additional 461 shares during the period. Cantor Fitzgerald L. P. increased its stake in Arista Networks by 139.3% in the third quarter. Cantor Fitzgerald L. P. now owns 21,250 shares of the technology company's stock valued at $3,096,000 after purchasing an additional 12,370 shares in the last quarter. Finally, Investment Research Partners LLC acquired a new position in shares of Arista Networks during the third quarter valued at about $194,000. 82.47% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on the company. Wolfe Research raised their price objective on Arista Networks from $160.00 to $185.00 and gave the stock an "outperform" rating in a research report on Friday, September 12th. UBS Group restated a "buy" rating and set a $155.00 price target on shares of Arista Networks in a report on Wednesday. JPMorgan Chase & Co. boosted their price target on shares of Arista Networks from $150.00 to $175.00 and gave the stock an "overweight" rating in a research report on Friday, September 12th. Needham & Company LLC upped their price objective on shares of Arista Networks from $155.00 to $160.00 and gave the company a "buy" rating in a research note on Tuesday, September 16th. Finally, KeyCorp increased their price objective on shares of Arista Networks from $115.00 to $145.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 6th. Eighteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Arista Networks presently has a consensus rating of "Moderate Buy" and a consensus price target of $164.31.
Check Out Our Latest Stock Report on Arista Networks
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.
Further Reading
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