Arista Networks (NYSE:ANET) Director Yvonne Wassenaar Sells 1,395 Shares

Arista Networks, Inc. (NYSE:ANET) Director Yvonne Wassenaar sold 1,395 shares of the stock in a transaction on Monday, March 16th. The shares were sold at an average price of $134.34, for a total transaction of $187,404.30. Following the transaction, the director directly owned 11,179 shares in the company, valued at approximately $1,501,786.86. The trade was a 11.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Yvonne Wassenaar also recently made the following trade(s):

• On Wednesday, February 25th, Yvonne Wassenaar sold 1,815 shares of Arista Networks stock. The stock was sold at an average price of $132.44, for a total value of $240,378.60.

Arista Networks Stock Performance

NYSE ANET opened at $136.15 on Thursday. The business has a fifty day moving average price of $134.95 and a 200 day moving average price of $137.31. The company has a market cap of $171.08 billion, a P/E ratio of 49.33, a P/E/G ratio of 2.36 and a beta of 1.46. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $164.94.

Arista Networks (NYSE:ANET) last released its earnings results on Thursday, February 12th. The technology company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.07. The business had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.38 billion. Arista Networks had a net margin of 38.99% and a return on equity of 30.37%. The company’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.66 earnings per share. As a group, sell-side analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Arista Networks

Several institutional investors and hedge funds have recently modified their holdings of ANET. Brighton Jones LLC lifted its position in shares of Arista Networks by 321.7% during the fourth quarter. Brighton Jones LLC now owns 7,806 shares of the technology company’s stock worth $863,000 after purchasing an additional 5,955 shares in the last quarter. Revolve Wealth Partners LLC acquired a new position in shares of Arista Networks in the fourth quarter valued at approximately $202,000. Bison Wealth LLC purchased a new stake in Arista Networks during the 4th quarter worth approximately $251,000. Sivia Capital Partners LLC lifted its holdings in Arista Networks by 48.4% during the 2nd quarter. Sivia Capital Partners LLC now owns 10,723 shares of the technology company’s stock worth $1,097,000 after buying an additional 3,496 shares in the last quarter. Finally, Foundations Investment Advisors LLC lifted its holdings in Arista Networks by 67.0% during the 2nd quarter. Foundations Investment Advisors LLC now owns 11,787 shares of the technology company’s stock worth $1,206,000 after buying an additional 4,728 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. UBS Group set a $200.00 price target on Arista Networks in a report on Tuesday, February 24th. The Goldman Sachs Group restated a “buy” rating and issued a $188.00 target price (up from $165.00) on shares of Arista Networks in a report on Friday, February 13th. TD Cowen began coverage on Arista Networks in a research note on Thursday, March 12th. They issued a “buy” rating and a $170.00 target price for the company. Piper Sandler reiterated an “overweight” rating and set a $175.00 price target (up from $159.00) on shares of Arista Networks in a report on Friday, February 13th. Finally, Rosenblatt Securities upped their price objective on shares of Arista Networks from $140.00 to $165.00 and gave the company a “neutral” rating in a report on Tuesday, February 10th. Eighteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $176.47.

About Arista Networks

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.