Arista Networks, Inc. (NYSE:ANET) Insider Andreas Bechtolsheim Sells 100,000 Shares

Posted by on Jun 2nd, 2022

Arista Networks, Inc. (NYSE:ANET – Get Rating) insider Andreas Bechtolsheim sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 31st. The stock was sold at an average price of $103.23, for a total transaction of $10,323,000.00. Following the transaction, the insider now directly owns 46,320,000 shares of the company’s stock, valued at approximately $4,781,613,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Andreas Bechtolsheim also recently made the following trade(s):

  • On Thursday, May 26th, Andreas Bechtolsheim sold 100,000 shares of Arista Networks stock. The shares were sold at an average price of $102.95, for a total transaction of $10,295,000.00.
  • On Wednesday, March 9th, Andreas Bechtolsheim sold 100,000 shares of Arista Networks stock. The shares were sold at an average price of $119.85, for a total transaction of $11,985,000.00.
  • On Monday, March 7th, Andreas Bechtolsheim sold 100,000 shares of Arista Networks stock. The shares were sold at an average price of $115.74, for a total transaction of $11,574,000.00.
  • On Friday, March 4th, Andreas Bechtolsheim sold 100,000 shares of Arista Networks stock. The stock was sold at an average price of $118.51, for a total transaction of $11,851,000.00.

Shares of NYSE:ANET traded down $0.61 during trading hours on Wednesday, hitting $101.67. 1,912,268 shares of the company’s stock traded hands, compared to its average volume of 2,084,764. Arista Networks, Inc. has a 52 week low of $82.94 and a 52 week high of $148.57. The company’s fifty day simple moving average is $118.67 and its two-hundred day simple moving average is $127.41. The company has a market cap of $31.34 billion, a price-to-earnings ratio of 34.82, a price-to-earnings-growth ratio of 2.11 and a beta of 1.28.

Arista Networks (NYSE:ANET – Get Rating) last posted its quarterly earnings data on Monday, May 2nd. The technology company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.03. Arista Networks had a net margin of 29.54% and a return on equity of 21.16%. During the same quarter last year, the business posted $0.57 earnings per share. Analysts expect that Arista Networks, Inc. will post 3.18 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Rockefeller Capital Management L.P. boosted its holdings in shares of Arista Networks by 3.8% during the third quarter. Rockefeller Capital Management L.P. now owns 2,670 shares of the technology company’s stock worth $917,000 after purchasing an additional 97 shares during the period. Schroder Investment Management Group raised its position in Arista Networks by 16.1% during the third quarter. Schroder Investment Management Group now owns 2,369 shares of the technology company’s stock valued at $814,000 after acquiring an additional 329 shares in the last quarter. Ontario Teachers Pension Plan Board bought a new position in shares of Arista Networks in the third quarter valued at approximately $439,000. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Arista Networks by 12.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 14,349 shares of the technology company’s stock valued at $4,931,000 after purchasing an additional 1,600 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of Arista Networks by 598.3% in the third quarter. Renaissance Technologies LLC now owns 219,900 shares of the technology company’s stock valued at $75,566,000 after purchasing an additional 188,410 shares during the period. Institutional investors own 67.10% of the company’s stock.

A number of research analysts have recently issued reports on ANET shares. Barclays reduced their price target on shares of Arista Networks from $140.00 to $138.00 in a research report on Tuesday, May 3rd. Piper Sandler dropped their price objective on shares of Arista Networks from $139.00 to $133.00 in a report on Tuesday, May 3rd. Morgan Stanley increased their price objective on shares of Arista Networks from $138.00 to $144.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 15th. Loop Capital increased their price objective on shares of Arista Networks from $157.00 to $170.00 in a report on Tuesday, February 15th. Finally, Wells Fargo & Company raised shares of Arista Networks from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $142.00 to $160.00 in a report on Thursday, March 10th. Eight research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $153.61.

About Arista Networks (Get Rating)

Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms.

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