Arista Networks, Inc. (ANET) SVP Marc Taxay Sells 2,000 Shares
Arista Networks, Inc. (NYSE:ANET) SVP Marc Taxay sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $190.47, for a total transaction of $380,940.00. Following the transaction, the senior vice president now owns 13,002 shares in the company, valued at approximately $2,476,490.94. The sale was disclosed in a filing with the SEC, which is available at this link.
Marc Taxay also recently made the following trade(s):
- On Friday, September 1st, Marc Taxay sold 2,000 shares of Arista Networks stock. The shares were sold at an average price of $176.09, for a total transaction of $352,180.00.
- On Tuesday, August 1st, Marc Taxay sold 2,000 shares of Arista Networks stock. The shares were sold at an average price of $150.43, for a total transaction of $300,860.00.
Arista Networks, Inc. (ANET) opened at 189.42 on Wednesday. Arista Networks, Inc. has a 12-month low of $78.82 and a 12-month high of $193.24. The firm has a 50-day moving average of $178.41 and a 200 day moving average of $154.81. The firm has a market capitalization of $13.74 billion, a price-to-earnings ratio of 48.88 and a beta of 1.31.
Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Thursday, August 3rd. The technology company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.15. The business had revenue of $405.21 million for the quarter, compared to analyst estimates of $361.02 million. Arista Networks had a return on equity of 22.64% and a net margin of 21.74%. The business’s revenue for the quarter was up 50.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.74 earnings per share. On average, equities analysts predict that Arista Networks, Inc. will post $4.70 EPS for the current year.
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Several research firms have weighed in on ANET. BMO Capital Markets reiterated an “outperform” rating and set a $190.00 price target (up previously from $167.00) on shares of Arista Networks in a research note on Friday, August 4th. J P Morgan Chase & Co upgraded Arista Networks from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $144.00 to $186.00 in a research note on Friday, August 4th. Argus restated a “buy” rating on shares of Arista Networks in a research note on Monday, August 7th. Needham & Company LLC restated a “buy” rating and issued a $175.00 price objective on shares of Arista Networks in a research note on Tuesday, September 12th. Finally, Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $180.00 target price (up previously from $160.00) on shares of Arista Networks in a report on Wednesday, August 9th. Fifteen analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $164.14.
Several hedge funds and other institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. raised its position in shares of Arista Networks by 20.5% in the second quarter. PNC Financial Services Group Inc. now owns 740 shares of the technology company’s stock valued at $111,000 after buying an additional 126 shares during the last quarter. LS Investment Advisors LLC purchased a new stake in Arista Networks in the 2nd quarter worth approximately $119,000. D.A. Davidson & CO. grew its stake in Arista Networks by 3.2% in the 2nd quarter. D.A. Davidson & CO. now owns 982 shares of the technology company’s stock worth $147,000 after acquiring an additional 30 shares during the period. SG Americas Securities LLC purchased a new stake in Arista Networks in the 1st quarter worth approximately $164,000. Finally, Daiwa Securities Group Inc. purchased a new stake in Arista Networks in the 2nd quarter worth approximately $202,000. Institutional investors and hedge funds own 59.34% of the company’s stock.
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.
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