Arista Networks Inc (NYSE:ANET) insider Anshul Sadana sold 24,000 shares of the company’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $256.25, for a total value of $6,150,000.00. Following the sale, the insider now owns 80,972 shares of the company’s stock, valued at approximately $20,749,075. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Arista Networks Inc (NYSE ANET) traded up $2.38 during midday trading on Friday, hitting $265.19. The stock had a trading volume of 642,400 shares, compared to its average volume of 823,492. Arista Networks Inc has a 1 year low of $87.54 and a 1 year high of $268.12. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.66 and a quick ratio of 3.07. The stock has a market cap of $19,570.00, a PE ratio of 55.02, a PEG ratio of 2.01 and a beta of 1.38.
Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Thursday, November 2nd. The technology company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.33. Arista Networks had a return on equity of 24.76% and a net margin of 25.10%. research analysts forecast that Arista Networks Inc will post 4.63 earnings per share for the current fiscal year.
A number of brokerages have issued reports on ANET. Needham & Company LLC upped their price objective on Arista Networks from $230.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. Bank of America upped their price objective on Arista Networks from $210.00 to $250.00 and gave the company a “neutral” rating in a research note on Wednesday, November 29th. Oppenheimer upped their price objective on Arista Networks from $200.00 to $270.00 and gave the company an “outperform” rating in a research note on Monday, January 8th. Morgan Stanley upped their price objective on Arista Networks from $210.00 to $260.00 and gave the company an “overweight” rating in a research note on Thursday, December 21st. Finally, Citigroup upped their price objective on Arista Networks to $250.00 and gave the company a “buy” rating in a research note on Friday, December 1st. Fourteen analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Arista Networks currently has an average rating of “Buy” and a consensus price target of $205.66.
Several hedge funds and other institutional investors have recently modified their holdings of ANET. State of Alaska Department of Revenue purchased a new stake in Arista Networks during the 4th quarter worth about $918,000. Acadian Asset Management LLC lifted its holdings in Arista Networks by 1,368.7% during the 4th quarter. Acadian Asset Management LLC now owns 101,944 shares of the technology company’s stock worth $24,016,000 after purchasing an additional 95,003 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in Arista Networks by 8.3% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 87,998 shares of the technology company’s stock worth $20,731,000 after purchasing an additional 6,772 shares in the last quarter. Gateway Investment Advisers LLC lifted its holdings in Arista Networks by 107.5% during the 4th quarter. Gateway Investment Advisers LLC now owns 25,670 shares of the technology company’s stock worth $6,047,000 after purchasing an additional 13,297 shares in the last quarter. Finally, CrestPoint Capital Management LLC purchased a new stake in Arista Networks during the 4th quarter worth about $212,000. 57.96% of the stock is currently owned by hedge funds and other institutional investors.
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Arista Networks Company Profile
Arista Networks, Inc is a supplier of cloud networking solutions that use software innovations to address the needs of Internet companies, cloud service providers and data centers for enterprise support. It develops, markets and sells cloud networking solutions, which consist of its Gigabit Ethernet switches and related software.
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