Arista Networks (NYSE:ANET) Director Kelly Bodnar Battles Sells 422 Shares

Arista Networks, Inc. (NYSE:ANET) Director Kelly Bodnar Battles sold 422 shares of the company’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $128.06, for a total transaction of $54,041.32. Following the sale, the director directly owned 9,529 shares in the company, valued at approximately $1,220,283.74. The trade was a 4.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Arista Networks Stock Up 3.2%

ANET stock traded up $4.13 during midday trading on Wednesday, hitting $132.90. The company’s stock had a trading volume of 7,186,168 shares, compared to its average volume of 8,990,663. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $164.94. The firm has a market capitalization of $167.00 billion, a P/E ratio of 48.15, a PEG ratio of 2.28 and a beta of 1.42. The firm has a 50-day simple moving average of $133.98 and a 200-day simple moving average of $137.47.

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

Hedge Funds Weigh In On Arista Networks

Hedge funds have recently added to or reduced their stakes in the stock. Tempo Wealth LLC purchased a new stake in shares of Arista Networks during the 4th quarter worth approximately $499,000. MidFirst Bank purchased a new stake in Arista Networks in the fourth quarter valued at $363,000. SG Trading Solutions LLC acquired a new position in Arista Networks in the fourth quarter valued at $1,250,000. Pacer Advisors Inc. grew its holdings in shares of Arista Networks by 11.6% during the fourth quarter. Pacer Advisors Inc. now owns 583,521 shares of the technology company’s stock worth $76,459,000 after purchasing an additional 60,516 shares during the last quarter. Finally, Kera Capital Partners Inc. increased its position in shares of Arista Networks by 11.7% during the fourth quarter. Kera Capital Partners Inc. now owns 80,987 shares of the technology company’s stock worth $11,479,000 after purchasing an additional 8,469 shares in the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ANET has been the topic of a number of analyst reports. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $188.00 price target (up from $165.00) on shares of Arista Networks in a research report on Friday, February 13th. Weiss Ratings restated a “hold (c+)” rating on shares of Arista Networks in a research note on Monday, December 29th. Evercore reiterated an “outperform” rating and issued a $200.00 price target on shares of Arista Networks in a research note on Friday, February 13th. Erste Group Bank cut shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Monday, November 10th. Finally, Wells Fargo & Company increased their price objective on shares of Arista Networks from $175.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, February 13th. Seventeen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $176.88.

Arista Networks Company Profile

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.