Key Points
- Director Kelly Bodnar Battles sold 422 shares on Feb. 23 at an average price of $128.06 for $54,041, reducing her holding to 9,529 shares — a 4.24% decrease — as disclosed in an SEC filing.
- Arista stock slid about 3.3% to $128.52 on below-average intraday volume, despite the company beating Q4 estimates with $0.82 EPS (vs. $0.75) and $2.49B revenue (+28.9% YoY); analysts maintain a consensus "Moderate Buy" with an average price target of $176.88.
Arista Networks, Inc. (NYSE:ANET - Get Free Report) Director Kelly Bodnar Battles sold 422 shares of the stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $128.06, for a total transaction of $54,041.32. Following the transaction, the director directly owned 9,529 shares of the company's stock, valued at $1,220,283.74. This trade represents a 4.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Arista Networks Stock Down 3.3%
Arista Networks stock traded down $4.37 during midday trading on Thursday, reaching $128.52. 2,794,890 shares of the stock traded hands, compared to its average volume of 8,730,884. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $164.94. The stock's fifty day moving average is $134.19 and its 200-day moving average is $137.44. The stock has a market cap of $161.49 billion, a P/E ratio of 46.58, a PEG ratio of 2.28 and a beta of 1.42.
Arista Networks (NYSE:ANET - Get Free Report) last posted its earnings results on Thursday, February 12th. The technology company reported $0.82 earnings per share for the quarter, beating analysts' consensus estimates of $0.75 by $0.07. Arista Networks had a net margin of 38.99% and a return on equity of 30.37%. The firm had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.38 billion. During the same period last year, the firm posted $0.66 earnings per share. Arista Networks's revenue for the quarter was up 28.9% compared to the same quarter last year. On average, equities analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.
Institutional Investors Weigh In On Arista Networks
Institutional investors have recently bought and sold shares of the company. Bare Financial Services Inc raised its stake in Arista Networks by 2,118.2% in the 2nd quarter. Bare Financial Services Inc now owns 244 shares of the technology company's stock valued at $25,000 after purchasing an additional 233 shares during the last quarter. Board of the Pension Protection Fund acquired a new stake in shares of Arista Networks in the fourth quarter valued at about $26,000. Prosperity Bancshares Inc acquired a new position in Arista Networks during the fourth quarter worth about $28,000. AdvisorNet Financial Inc grew its stake in Arista Networks by 56.7% during the 3rd quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company's stock valued at $29,000 after acquiring an additional 72 shares in the last quarter. Finally, Knuff & Co LLC acquired a new stake in Arista Networks in the 3rd quarter valued at about $29,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on the company. Erste Group Bank cut Arista Networks from a "buy" rating to a "hold" rating in a research note on Monday, November 10th. Needham & Company LLC increased their target price on Arista Networks from $165.00 to $185.00 and gave the stock a "buy" rating in a research note on Friday, February 13th. UBS Group set a $200.00 price target on shares of Arista Networks in a research note on Tuesday. Wells Fargo & Company upped their target price on shares of Arista Networks from $175.00 to $185.00 and gave the stock an "overweight" rating in a research note on Friday, February 13th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $165.00 price target on shares of Arista Networks in a research note on Friday, February 13th. Seventeen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $176.88.
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Arista Networks Company Profile
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Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista's offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.
Central to Arista's product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company's hardware platforms.
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