Charles H. Giancarlo Sells 8,000 Shares of Arista Networks, Inc. (NYSE:ANET) Stock

Arista Networks, Inc. (NYSE:ANET) Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $77.55, for a total transaction of $620,400.00. Following the completion of the transaction, the director now directly owns 139,784 shares of the company’s stock, valued at approximately $10,840,249.20. The trade was a 5.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Arista Networks Stock Down 9.8 %

Shares of NYSE ANET opened at $64.28 on Friday. The stock has a market capitalization of $81.07 billion, a P/E ratio of 28.96, a P/E/G ratio of 3.10 and a beta of 1.30. The firm’s 50-day moving average price is $94.01 and its two-hundred day moving average price is $101.21. Arista Networks, Inc. has a 52-week low of $60.08 and a 52-week high of $133.58.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. As a group, equities research analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ANET shares. Morgan Stanley boosted their price target on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Rosenblatt Securities reiterated a “sell” rating and set a $80.00 target price on shares of Arista Networks in a research note on Tuesday, February 18th. The Goldman Sachs Group restated a “buy” rating on shares of Arista Networks in a research note on Monday, March 3rd. UBS Group upgraded shares of Arista Networks from a “neutral” rating to a “buy” rating and increased their price objective for the company from $112.00 to $115.00 in a research note on Wednesday, March 5th. Finally, Evercore ISI boosted their target price on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and an average target price of $114.00.

Institutional Trading of Arista Networks

A number of large investors have recently modified their holdings of ANET. Anchor Investment Management LLC increased its stake in shares of Arista Networks by 35.0% in the third quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock valued at $52,000 after purchasing an additional 35 shares during the period. Caitlin John LLC increased its position in Arista Networks by 174.7% in the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after acquiring an additional 152 shares during the period. Capital Advisors Ltd. LLC raised its stake in Arista Networks by 335.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock valued at $27,000 after acquiring an additional 191 shares in the last quarter. New Millennium Group LLC boosted its position in Arista Networks by 300.0% during the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock worth $29,000 after acquiring an additional 195 shares during the period. Finally, Quarry LP grew its stake in shares of Arista Networks by 381.5% in the fourth quarter. Quarry LP now owns 260 shares of the technology company’s stock worth $29,000 after purchasing an additional 206 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

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.