Arista Networks, Inc. (NYSE:ANET) SVP Marc Taxay Sells 1,044 Shares

Arista Networks, Inc. (NYSE:ANET) SVP Marc Taxay sold 1,044 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $254.54, for a total transaction of $265,739.76. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Marc Taxay also recently made the following trade(s):

• On Monday, April 1st, Marc Taxay sold 1,040 shares of Arista Networks stock. The shares were sold at an average price of $292.28, for a total transaction of $303,971.20.
• On Friday, March 1st, Marc Taxay sold 11,650 shares of Arista Networks stock. The shares were sold at an average price of $286.28, for a total transaction of $3,335,162.00.

Arista Networks Price Performance

ANET opened at $274.38 on Friday. The company’s 50 day simple moving average is $278.94 and its 200-day simple moving average is $248.71. Arista Networks, Inc. has a one year low of $131.68 and a one year high of $307.74. The stock has a market capitalization of $86.05 billion, a P/E ratio of 41.76, a price-to-earnings-growth ratio of 2.18 and a beta of 1.13.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same period last year, the company earned $1.25 earnings per share. The company’s revenue was up 20.8% on a year-over-year basis. As a group, analysts anticipate that Arista Networks, Inc. will post 6.7 EPS for the current year.

Hedge Funds Weigh In On Arista Networks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Valley Wealth Managers Inc. increased its position in shares of Arista Networks by 51.2% in the 1st quarter. Valley Wealth Managers Inc. now owns 2,084 shares of the technology company’s stock valued at $604,000 after buying an additional 706 shares in the last quarter. Catalina Capital Group LLC bought a new stake in shares of Arista Networks in the first quarter worth about $254,000. Mediolanum International Funds Ltd acquired a new stake in shares of Arista Networks during the first quarter worth about $6,357,000. Larson Financial Group LLC lifted its holdings in shares of Arista Networks by 373.4% during the 1st quarter. Larson Financial Group LLC now owns 942 shares of the technology company’s stock valued at $273,000 after purchasing an additional 743 shares in the last quarter. Finally, Rehmann Capital Advisory Group acquired a new position in shares of Arista Networks in the 1st quarter valued at approximately $317,000. Institutional investors own 82.47% of the company’s stock.

Analyst Upgrades and Downgrades

ANET has been the subject of several research reports. KeyCorp increased their price objective on Arista Networks from $232.00 to $287.00 and gave the company an “overweight” rating in a research report on Thursday, January 18th. Rosenblatt Securities restated a “sell” rating and issued a $210.00 price target on shares of Arista Networks in a research report on Friday, April 12th. Oppenheimer reaffirmed a “market perform” rating on shares of Arista Networks in a research report on Tuesday, February 13th. Piper Sandler lifted their target price on Arista Networks from $254.00 to $268.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 13th. Finally, Barclays upped their price target on Arista Networks from $272.00 to $311.00 and gave the company an “overweight” rating in a report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $285.53.

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.