John F. Mccool Sells 1,585 Shares of Arista Networks, Inc. (NYSE:ANET) Stock

Arista Networks, Inc. (NYSE:ANET) insider John F. Mccool sold 1,585 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $394.33, for a total transaction of $625,013.05. Following the sale, the insider now directly owns 72 shares in the company, valued at $28,391.76. This trade represents a 95.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Arista Networks Trading Up 2.1 %

NYSE ANET opened at $408.24 on Wednesday. The company has a market cap of $128.57 billion, a price-to-earnings ratio of 49.07, a PEG ratio of 3.28 and a beta of 1.08. The company has a 50 day moving average of $394.96 and a 200-day moving average of $355.32. Arista Networks, Inc. has a 1-year low of $210.69 and a 1-year high of $431.97.

Shares of Arista Networks are set to split on Wednesday, December 4th. The 4-1 split was announced on Thursday, November 7th. The newly created shares will be payable to shareholders after the market closes on Tuesday, December 3rd.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Thursday, November 7th. The technology company reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.32. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The company had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter last year, the business earned $1.63 earnings per share. Arista Networks’s revenue was up 20.0% on a year-over-year basis. On average, equities research analysts forecast that Arista Networks, Inc. will post 7.75 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Barclays raised their target price on shares of Arista Networks from $341.00 to $495.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Rosenblatt Securities raised their price objective on Arista Networks from $265.00 to $320.00 and gave the company a “sell” rating in a research report on Friday, November 8th. Piper Sandler reissued a “neutral” rating and set a $421.00 target price (up from $345.00) on shares of Arista Networks in a report on Friday, November 8th. Jefferies Financial Group lifted their price objective on shares of Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company increased their price objective on shares of Arista Networks from $390.00 to $460.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $395.19.

Hedge Funds Weigh In On Arista Networks

Hedge funds and other institutional investors have recently made changes to their positions in the company. Beacon Capital Management LLC raised its position in Arista Networks by 500.0% during the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after purchasing an additional 65 shares in the last quarter. LGT Financial Advisors LLC acquired a new position in shares of Arista Networks during the 2nd quarter worth $27,000. Byrne Asset Management LLC acquired a new stake in Arista Networks in the second quarter valued at about $33,000. Sugarloaf Wealth Management LLC bought a new position in Arista Networks in the second quarter valued at about $35,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in Arista Networks during the second quarter worth about $35,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

About Arista Networks

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.