John F. Mccool Sells 580 Shares of Arista Networks, Inc. (NYSE:ANET) Stock

Arista Networks, Inc. (NYSE:ANET) insider John F. Mccool sold 580 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $354.71, for a total value of $205,731.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Arista Networks Price Performance

Shares of Arista Networks stock traded up $8.41 during trading hours on Wednesday, reaching $365.42. The company’s stock had a trading volume of 1,209,628 shares, compared to its average volume of 2,498,926. The firm has a 50 day moving average price of $307.75 and a 200-day moving average price of $281.44. Arista Networks, Inc. has a one year low of $149.10 and a one year high of $365.42. The stock has a market cap of $114.51 billion, a P/E ratio of 50.89, a P/E/G ratio of 3.09 and a beta of 1.11.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, May 7th. The technology company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.56 by $0.24. Arista Networks had a net margin of 37.64% and a return on equity of 31.12%. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.55 billion. As a group, sell-side analysts forecast that Arista Networks, Inc. will post 7.05 EPS for the current fiscal year.

Arista Networks announced that its Board of Directors has authorized a stock buyback plan on Tuesday, May 7th that permits the company to repurchase $1.20 billion in shares. This repurchase authorization permits the technology company to repurchase up to 1.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several research firms have recently weighed in on ANET. Evercore ISI upped their price target on shares of Arista Networks from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Monday, May 20th. Citigroup raised their price objective on shares of Arista Networks from $330.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. The Goldman Sachs Group lifted their target price on shares of Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Jefferies Financial Group upgraded shares of Arista Networks from a “hold” rating to a “buy” rating and lifted their target price for the company from $240.00 to $320.00 in a report on Friday, May 3rd. Finally, UBS Group lifted their target price on shares of Arista Networks from $275.00 to $285.00 and gave the company a “neutral” rating in a report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $311.50.

Institutional Investors Weigh In On Arista Networks

Institutional investors and hedge funds have recently made changes to their positions in the stock. Benjamin Edwards Inc. acquired a new position in Arista Networks during the first quarter valued at $26,000. Financial Synergies Wealth Advisors Inc. increased its holdings in Arista Networks by 872.7% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock valued at $31,000 after buying an additional 96 shares in the last quarter. Alaska Permanent Fund Corp purchased a new stake in shares of Arista Networks during the first quarter worth about $37,000. Riverview Trust Co purchased a new stake in shares of Arista Networks during the first quarter worth about $40,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new position in Arista Networks during the first quarter worth about $42,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

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.