Insider Selling: Arista Networks, Inc. (NYSE:ANET) Insider Sells 12,988 Shares of Stock

Posted by on Jun 10th, 2022

Arista Networks, Inc. (NYSE:ANET – Get Rating) insider Andreas Bechtolsheim sold 12,988 shares of Arista Networks stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $103.80, for a total transaction of $1,348,154.40. Following the completion of the sale, the insider now owns 45,807,012 shares in the company, valued at approximately $4,754,767,845.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

  • On Monday, June 6th, Andreas Bechtolsheim sold 100,000 shares of Arista Networks stock. The shares were sold at an average price of $103.88, for a total transaction of $10,388,000.00.
  • On Thursday, June 2nd, Andreas Bechtolsheim sold 100,000 shares of Arista Networks stock. The shares were sold at an average price of $104.56, for a total transaction of $10,456,000.00.
  • On Tuesday, May 31st, Andreas Bechtolsheim sold 100,000 shares of Arista Networks stock. The shares were sold at an average price of $103.23, for a total transaction of $10,323,000.00.
  • 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.

Shares of Arista Networks stock traded down $4.64 on Thursday, reaching $98.41. The company had a trading volume of 2,130,974 shares, compared to its average volume of 2,046,702. The firm’s 50 day moving average price is $115.14 and its two-hundred day moving average price is $123.70. The firm has a market cap of $30.34 billion, a PE ratio of 33.70, a PEG ratio of 2.08 and a beta of 1.29. Arista Networks, Inc. has a 52-week low of $85.18 and a 52-week high of $148.57.

Arista Networks (NYSE:ANET – Get Rating) last released its quarterly earnings results on Monday, May 2nd. The technology company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the business posted $0.57 EPS. Analysts anticipate that Arista Networks, Inc. will post 3.18 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the company. American Trust purchased a new stake in shares of Arista Networks in the 1st quarter valued at approximately $498,000. Teachers Retirement System of The State of Kentucky increased its stake in Arista Networks by 978.8% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 176,916 shares of the technology company’s stock worth $24,588,000 after buying an additional 160,516 shares during the period. Bank of America Corp DE increased its stake in Arista Networks by 30.3% during the 1st quarter. Bank of America Corp DE now owns 1,293,132 shares of the technology company’s stock worth $179,718,000 after buying an additional 300,504 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Arista Networks by 20.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 67,889 shares of the technology company’s stock worth $9,435,000 after buying an additional 11,678 shares during the period. Finally, Walleye Capital LLC purchased a new stake in Arista Networks during the 1st quarter worth approximately $1,105,000. 67.10% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company upgraded shares of Arista Networks from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $142.00 to $160.00 in a research report on Thursday, March 10th. Morgan Stanley boosted their price target on shares of Arista Networks from $138.00 to $144.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 15th. Oppenheimer restated a “market perform” rating and set a $305.00 price target on shares of Arista Networks in a research report on Wednesday, May 4th. The Goldman Sachs Group boosted their price target on shares of Arista Networks from $135.50 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, March 1st. Finally, Loop Capital boosted their price target on shares of Arista Networks from $157.00 to $170.00 in a research report on Tuesday, February 15th. Eight research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $153.61.

Arista Networks Company Profile (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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