Charles H. Giancarlo Sells 2,000 Shares of Arista Networks, Inc. (NYSE:ANET) Stock

Arista Networks, Inc. (NYSE:ANET) Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $393.18, for a total value of $786,360.00. Following the transaction, the director now owns 44,946 shares in the company, valued at approximately $17,671,868.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Arista Networks Stock Performance

NYSE ANET opened at $422.85 on Thursday. The firm has a market capitalization of $132.84 billion, a PE ratio of 54.84, a price-to-earnings-growth ratio of 3.47 and a beta of 1.08. Arista Networks, Inc. has a one year low of $203.19 and a one year high of $424.01. The company has a 50-day simple moving average of $379.96 and a 200-day simple moving average of $342.48.

Institutional Trading of Arista Networks

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. GQG Partners LLC acquired a new stake in Arista Networks in the first quarter worth $881,848,000. Swedbank AB bought a new position in shares of Arista Networks during the first quarter worth about $521,767,000. Ameriprise Financial Inc. lifted its position in Arista Networks by 97.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company’s stock valued at $628,966,000 after purchasing an additional 884,703 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Arista Networks by 39,841.1% during the 3rd quarter. International Assets Investment Management LLC now owns 875,110 shares of the technology company’s stock valued at $3,358,850,000 after purchasing an additional 872,919 shares during the period. Finally, 1832 Asset Management L.P. boosted its stake in Arista Networks by 4,160.9% during the 2nd quarter. 1832 Asset Management L.P. now owns 515,700 shares of the technology company’s stock valued at $180,743,000 after purchasing an additional 503,597 shares during the period. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on ANET. Jefferies Financial Group boosted their price target on Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $375.00 price target on shares of Arista Networks in a report on Wednesday, July 31st. Piper Sandler boosted their price objective on shares of Arista Networks from $302.00 to $345.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. The Goldman Sachs Group raised their target price on Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Finally, Barclays boosted their price target on Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $373.88.

Arista Networks Company Profile

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.