Key Points
- Director Charles Giancarlo sold 8,000 shares of Arista on March 2 at an average price of $128.67, totaling about $1,029,360, leaving him with 1,784 shares (an 81.77% reduction); the trade is disclosed in an SEC filing.
- Arista recently beat quarterly estimates—EPS $0.82 vs. $0.75 and revenue $2.49B, up 28.9% year-over-year—and retains strong margins and ROE, while analysts hold a consensus "Moderate Buy" with an average target of about $176.88.
Arista Networks, Inc. (NYSE:ANET - Get Free Report) Director Charles Giancarlo sold 8,000 shares of the firm's stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $128.67, for a total transaction of $1,029,360.00. Following the sale, the director owned 1,784 shares in the company, valued at approximately $229,547.28. The trade was a 81.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Arista Networks Price Performance
Shares of NYSE ANET opened at $134.95 on Thursday. The stock has a market cap of $169.57 billion, a PE ratio of 48.89, a price-to-earnings-growth ratio of 2.21 and a beta of 1.46. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $164.94. The firm has a fifty day moving average price of $134.26 and a 200-day moving average price of $137.17.
Arista Networks (NYSE:ANET - Get Free Report) last posted its quarterly earnings results on Thursday, February 12th. The technology company reported $0.82 EPS for the quarter, beating analysts' consensus estimates of $0.75 by $0.07. The business had revenue of $2.49 billion for the quarter, compared to analysts' expectations of $2.38 billion. Arista Networks had a return on equity of 30.37% and a net margin of 38.99%.The business's quarterly revenue was up 28.9% on a year-over-year basis. During the same period last year, the firm earned $0.66 earnings per share. On average, research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.
Hedge Funds Weigh In On Arista Networks
A number of large investors have recently made changes to their positions in ANET. Pure Financial Advisors LLC lifted its stake in Arista Networks by 30.7% in the fourth quarter. Pure Financial Advisors LLC now owns 5,665 shares of the technology company's stock worth $742,000 after purchasing an additional 1,332 shares during the last quarter. SHP Wealth Management purchased a new stake in shares of Arista Networks in the fourth quarter worth approximately $110,000. Reflection Asset Management bought a new stake in shares of Arista Networks during the 4th quarter worth approximately $1,286,000. Sankala Group LLC purchased a new position in Arista Networks during the 4th quarter valued at $27,000. Finally, Clearwave Capital LLC bought a new position in Arista Networks in the 4th quarter valued at $2,557,000. 82.47% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts have issued reports on ANET shares. Wells Fargo & Company lifted their price target on shares of Arista Networks from $175.00 to $185.00 and gave the company an "overweight" rating in a report on Friday, February 13th. Morgan Stanley restated an "overweight" rating and set a $165.00 price objective on shares of Arista Networks in a research report on Friday, February 13th. UBS Group set a $200.00 target price on Arista Networks in a research report on Tuesday, February 24th. Evercore restated an "outperform" rating and set a $200.00 price target on shares of Arista Networks in a report on Friday, February 13th. Finally, KeyCorp reaffirmed an "overweight" rating and set a $178.00 price objective (up from $170.00) on shares of Arista Networks in a report on Friday, February 13th. Seventeen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Arista Networks presently has a consensus rating of "Moderate Buy" and an average target price of $176.88.
View Our Latest Research Report on ANET
Arista Networks Company Profile
(
Get Free Report)
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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