Arista Networks, Inc. (NYSE:ANET) CFO Ita M. Brennan sold 3,700 shares of the company’s stock in a transaction on Thursday, August 12th. The stock was sold at an average price of $366.65, for a total value of $1,356,605.00. Following the transaction, the chief financial officer now directly owns 7,709 shares in the company, valued at approximately $2,826,504.85. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Shares of NYSE:ANET opened at $364.63 on Wednesday. Arista Networks, Inc. has a 52-week low of $192.96 and a 52-week high of $384.00. The firm has a market cap of $27.97 billion, a P/E ratio of 39.76, a P/E/G ratio of 3.12 and a beta of 1.15. The firm has a 50-day moving average price of $369.58.
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Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Sunday, August 1st. The technology company reported $2.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.54 by $0.18. The firm had revenue of $707.30 million during the quarter, compared to the consensus estimate of $688.89 million. Arista Networks had a net margin of 27.72% and a return on equity of 20.92%. The business’s revenue for the quarter was up 30.8% compared to the same quarter last year. During the same period last year, the business posted $2.11 earnings per share. Research analysts expect that Arista Networks, Inc. will post 9.06 EPS for the current year.
A number of hedge funds have recently modified their holdings of the business. Massmutual Trust Co. FSB ADV lifted its position in Arista Networks by 56.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 78 shares of the technology company’s stock worth $28,000 after acquiring an additional 28 shares during the last quarter. NEXT Financial Group Inc lifted its position in Arista Networks by 2.2% during the second quarter. NEXT Financial Group Inc now owns 1,376 shares of the technology company’s stock worth $499,000 after acquiring an additional 29 shares during the last quarter. Kistler Tiffany Companies LLC increased its holdings in shares of Arista Networks by 40.3% during the second quarter. Kistler Tiffany Companies LLC now owns 108 shares of the technology company’s stock worth $39,000 after purchasing an additional 31 shares during the period. Colony Capital Inc. increased its holdings in shares of Arista Networks by 0.8% during the first quarter. Colony Capital Inc. now owns 4,249 shares of the technology company’s stock worth $1,283,000 after purchasing an additional 33 shares during the period. Finally, Ellevest Inc. increased its holdings in shares of Arista Networks by 13.3% during the first quarter. Ellevest Inc. now owns 290 shares of the technology company’s stock worth $88,000 after purchasing an additional 34 shares during the period. Hedge funds and other institutional investors own 55.55% of the company’s stock.
Several research analysts have issued reports on the company. JMP Securities upped their price objective on Arista Networks from $340.00 to $415.00 and gave the stock a “market outperform” rating in a report on Tuesday, July 27th. Wells Fargo & Company increased their price target on Arista Networks from $340.00 to $375.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 3rd. UBS Group increased their price target on Arista Networks from $370.00 to $420.00 and gave the company a “buy” rating in a research note on Tuesday, August 3rd. MKM Partners increased their price target on Arista Networks from $363.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, August 3rd. Finally, Barclays upped their price objective on shares of Arista Networks from $330.00 to $378.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 3rd. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $381.33.
About Arista Networks
Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms.
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