Insider Selling: Arista Networks Inc. (ANET) VP Sells 5,000 Shares of Stock
Arista Networks Inc. (NYSE:ANET) VP Mark Stephen Smith sold 5,000 shares of Arista Networks stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $87.86, for a total value of $439,300.00. Following the sale, the vice president now owns 1,620 shares in the company, valued at approximately $142,333.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Mark Stephen Smith also recently made the following trade(s):
- On Monday, October 17th, Mark Stephen Smith sold 11,150 shares of Arista Networks stock. The stock was sold at an average price of $82.52, for a total value of $920,098.00.
Shares of Arista Networks Inc. (NYSE:ANET) traded up 0.32% on Wednesday, reaching $88.07. The company’s stock had a trading volume of 461,470 shares. Arista Networks Inc. has a 1-year low of $52.51 and a 1-year high of $88.88. The stock has a market capitalization of $6.18 billion, a PE ratio of 38.09 and a beta of 1.12. The stock has a 50-day moving average of $84.29 and a 200 day moving average of $76.05.
Arista Networks (NYSE:ANET) last issued its earnings results on Thursday, November 3rd. The company reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.10. The firm earned $290.26 million during the quarter, compared to analysts’ expectations of $283.33 million. Arista Networks had a net margin of 16.15% and a return on equity of 20.69%. The firm’s revenue for the quarter was up 33.4% compared to the same quarter last year. During the same period last year, the firm posted $0.59 earnings per share. On average, equities analysts forecast that Arista Networks Inc. will post $3.08 EPS for the current year.
A number of institutional investors have recently bought and sold shares of ANET. BlackRock Inc. raised its position in Arista Networks by 315.7% in the first quarter. BlackRock Inc. now owns 3,999 shares of the company’s stock worth $252,000 after buying an additional 3,037 shares in the last quarter. BlackRock Group LTD raised its position in Arista Networks by 29.8% in the first quarter. BlackRock Group LTD now owns 21,310 shares of the company’s stock worth $1,344,000 after buying an additional 4,887 shares in the last quarter. State Street Corp raised its position in Arista Networks by 5.5% in the first quarter. State Street Corp now owns 635,968 shares of the company’s stock worth $40,130,000 after buying an additional 32,964 shares in the last quarter. Geode Capital Management LLC raised its position in Arista Networks by 13.1% in the first quarter. Geode Capital Management LLC now owns 232,489 shares of the company’s stock worth $14,669,000 after buying an additional 26,949 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in Arista Networks by 150.6% in the first quarter. Renaissance Technologies LLC now owns 194,700 shares of the company’s stock worth $12,286,000 after buying an additional 117,000 shares in the last quarter. 54.37% of the stock is owned by hedge funds and other institutional investors.
ANET has been the topic of several recent research reports. MKM Partners cut Arista Networks from a “buy” rating to a “neutral” rating and dropped their price target for the company from $81.00 to $79.00 in a research report on Monday, September 19th. BMO Capital Markets initiated coverage on Arista Networks in a research report on Thursday, August 18th. They issued an “outperform” rating and a $90.00 price target on the stock. Needham & Company LLC restated a “buy” rating and issued a $105.00 price target on shares of Arista Networks in a research report on Monday, August 8th. Citigroup Inc. boosted their price target on Arista Networks from $62.00 to $65.00 and gave the company a “neutral” rating in a research report on Friday, August 26th. Finally, Jefferies Group restated a “sell” rating and issued a $40.25 price target on shares of Arista Networks in a research report on Friday, August 5th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $85.62.
About Arista Networks
Arista Networks, Inc is a supplier of cloud networking solutions that address the needs of Internet companies, cloud service providers and next-generation data centers for enterprises. The Company’s cloud networking solutions consist of its Extensible Operating System (EOS), which is a set of network applications and its 10/25/40/50/100 Gigabit Ethernet switches.
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