Insider Selling: Arista Networks Inc (ANET) Insider Sells 24,000 Shares of Stock

Arista Networks Inc (NYSE:ANET) insider Anshul Sadana sold 24,000 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $256.25, for a total transaction of $6,150,000.00. Following the completion of the transaction, the insider now directly owns 80,972 shares in the company, valued at approximately $20,749,075. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Arista Networks Inc (NYSE ANET) opened at $270.84 on Friday. Arista Networks Inc has a one year low of $87.54 and a one year high of $271.87. The firm has a market cap of $19,800.00, a P/E ratio of 56.19, a P/E/G ratio of 2.01 and a beta of 1.38. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.07 and a current ratio of 3.66.

Arista Networks (NYSE:ANET) last announced its earnings results on Thursday, November 2nd. The technology company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.04 by $0.33. Arista Networks had a net margin of 25.10% and a return on equity of 24.76%. analysts forecast that Arista Networks Inc will post 4.63 earnings per share for the current fiscal year.

Several research analysts have recently issued reports on ANET shares. JMP Securities raised their target price on shares of Arista Networks from $185.00 to $230.00 and gave the company a “market perform” rating in a research note on Thursday, October 26th. Deutsche Bank reaffirmed a “buy” rating and issued a $210.00 target price (up previously from $185.00) on shares of Arista Networks in a research note on Monday, October 9th. BMO Capital Markets raised their target price on shares of Arista Networks from $190.00 to $205.00 and gave the company a “market perform” rating in a research note on Friday, November 3rd. They noted that the move was a valuation call. BidaskClub raised shares of Arista Networks from a “hold” rating to a “buy” rating in a research note on Saturday, September 23rd. Finally, Royal Bank of Canada raised shares of Arista Networks from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, November 8th. Fourteen research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $205.66.

A number of hedge funds have recently made changes to their positions in ANET. Schwab Charles Investment Management Inc. raised its holdings in Arista Networks by 6.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 119,676 shares of the technology company’s stock worth $17,927,000 after buying an additional 7,361 shares during the period. Comerica Bank raised its holdings in Arista Networks by 22.0% during the 2nd quarter. Comerica Bank now owns 2,282 shares of the technology company’s stock worth $354,000 after buying an additional 411 shares during the period. Prudential Financial Inc. raised its holdings in Arista Networks by 60.2% during the 2nd quarter. Prudential Financial Inc. now owns 4,918 shares of the technology company’s stock worth $737,000 after buying an additional 1,848 shares during the period. Principal Financial Group Inc. raised its holdings in Arista Networks by 13.6% during the 2nd quarter. Principal Financial Group Inc. now owns 9,029 shares of the technology company’s stock worth $1,352,000 after buying an additional 1,084 shares during the period. Finally, Franklin Resources Inc. raised its holdings in Arista Networks by 99.3% during the 2nd quarter. Franklin Resources Inc. now owns 60,200 shares of the technology company’s stock worth $9,017,000 after buying an additional 30,000 shares during the period. Hedge funds and other institutional investors own 57.96% of the company’s stock.

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About Arista Networks

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.

Insider Buying and Selling by Quarter for Arista Networks (NYSE:ANET)

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