Arista Networks, Inc. (NYSE:ANET) SVP Marc Taxay Sells 4,497 Shares of Stock

Arista Networks, Inc. (NYSE:ANET) SVP Marc Taxay sold 4,497 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $336.32, for a total value of $1,512,431.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Marc Taxay also recently made the following trade(s):

• On Thursday, August 1st, Marc Taxay sold 628 shares of Arista Networks stock. The stock was sold at an average price of $350.50, for a total transaction of $220,114.00.
• On Monday, July 1st, Marc Taxay sold 624 shares of Arista Networks stock. The shares were sold at an average price of $354.71, for a total transaction of $221,339.04.

Arista Networks Stock Up 0.7 %

Arista Networks stock opened at $328.37 on Friday. The company has a fifty day simple moving average of $343.81 and a 200-day simple moving average of $310.31. The firm has a market capitalization of $102.90 billion, a price-to-earnings ratio of 45.73, a PEG ratio of 2.78 and a beta of 1.11. Arista Networks, Inc. has a 52-week low of $168.25 and a 52-week high of $376.50.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.38. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The company had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the prior year, the company earned $1.41 EPS. Arista Networks’s revenue was up 15.9% compared to the same quarter last year. On average, research analysts anticipate that Arista Networks, Inc. will post 7.38 EPS for the current fiscal year.

Institutional Investors Weigh In On Arista Networks

Several hedge funds and other institutional investors have recently made changes to their positions in ANET. Sanctuary Advisors LLC purchased a new stake in shares of Arista Networks in the second quarter valued at about $9,858,000. NCP Inc. purchased a new stake in shares of Arista Networks in the 2nd quarter valued at approximately $105,000. Kestra Investment Management LLC purchased a new stake in shares of Arista Networks in the 2nd quarter valued at approximately $707,000. Clearbridge Investments LLC increased its holdings in shares of Arista Networks by 2.0% during the 2nd quarter. Clearbridge Investments LLC now owns 344,222 shares of the technology company’s stock worth $120,643,000 after buying an additional 6,638 shares during the last quarter. Finally, Dana Investment Advisors Inc. raised its position in shares of Arista Networks by 3.4% during the 2nd quarter. Dana Investment Advisors Inc. now owns 3,195 shares of the technology company’s stock valued at $1,120,000 after buying an additional 105 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Bank of America lifted their price objective on shares of Arista Networks from $320.00 to $380.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Wells Fargo & Company boosted their price target on Arista Networks from $340.00 to $390.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Erste Group Bank reaffirmed a “buy” rating on shares of Arista Networks in a research report on Friday, June 14th. Evercore ISI upped their target price on Arista Networks from $340.00 to $400.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Finally, Jefferies Financial Group raised their price target on shares of Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Arista Networks has an average rating of “Moderate Buy” and a consensus target price of $358.63.

About Arista Networks

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.