Arista Networks, Inc. (NYSE:ANET) Director Kelly Bodnar Battles Sells 356 Shares

Arista Networks, Inc. (NYSE:ANET) Director Kelly Bodnar Battles sold 356 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $274.91, for a total value of $97,867.96. Following the completion of the sale, the director now owns 2,570 shares of the company’s stock, valued at approximately $706,518.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Kelly Bodnar Battles also recently made the following trade(s):

• On Tuesday, February 13th, Kelly Bodnar Battles sold 278 shares of Arista Networks stock. The shares were sold at an average price of $265.81, for a total transaction of $73,895.18.

Arista Networks Stock Performance

Shares of ANET traded up $13.05 during trading hours on Friday, hitting $309.12. 960,783 shares of the company were exchanged, compared to its average volume of 2,506,217. Arista Networks, Inc. has a 52 week low of $133.42 and a 52 week high of $311.43. The company has a market cap of $96.64 billion, a PE ratio of 45.08, a PEG ratio of 2.33 and a beta of 1.13. The firm’s 50 day moving average is $279.59 and its 200-day moving average is $251.54.

Arista Networks (NYSE:ANET) last released its earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the previous year, the business earned $1.25 EPS. The business’s revenue was up 20.8% on a year-over-year basis. As a group, equities analysts forecast that Arista Networks, Inc. will post 6.74 earnings per share for the current fiscal year.

Arista Networks declared that its Board of Directors has approved a share buyback plan on Tuesday, May 7th that authorizes the company to buyback $1.20 billion in shares. This buyback authorization authorizes the technology company to reacquire up to 1.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Barclays upped their price target on Arista Networks from $311.00 to $320.00 and gave the company an “overweight” rating in a report on Thursday. JPMorgan Chase & Co. increased their price target on Arista Networks from $297.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Rosenblatt Securities reaffirmed a “sell” rating and set a $210.00 price objective on shares of Arista Networks in a research note on Friday, April 12th. JMP Securities reissued a “market outperform” rating and issued a $325.00 target price on shares of Arista Networks in a research report on Tuesday, February 13th. Finally, UBS Group raised their price objective on shares of Arista Networks from $275.00 to $285.00 and gave the stock a “neutral” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, Arista Networks presently has an average rating of “Moderate Buy” and an average price target of $293.00.

Institutional Investors Weigh In On Arista Networks

Several hedge funds have recently made changes to their positions in ANET. Benjamin Edwards Inc. acquired a new stake in shares of Arista Networks during the 1st quarter worth approximately $26,000. Larson Financial Group LLC acquired a new position in shares of Arista Networks in the 3rd quarter valued at $28,000. First Command Advisory Services Inc. bought a new position in shares of Arista Networks during the 3rd quarter worth about $29,000. Financial Synergies Wealth Advisors Inc. boosted its position in shares of Arista Networks by 872.7% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock valued at $31,000 after acquiring an additional 96 shares in the last quarter. Finally, NBC Securities Inc. acquired a new position in Arista Networks in the third quarter worth about $33,000. Institutional investors own 82.47% of the company’s stock.

Arista Networks Company Profile

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.