Arista Networks, Inc. (NYSE:ANET) Insider John F. Mccool Sells 1,291 Shares of Stock

Arista Networks, Inc. (NYSE:ANET) insider John F. Mccool sold 1,291 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $315.81, for a total value of $407,710.71. Following the sale, the insider now owns 1,291 shares in the company, valued at approximately $407,710.71. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Arista Networks Stock Up 0.7 %

Arista Networks stock opened at $303.58 on Friday. The company has a market capitalization of $95.13 billion, a PE ratio of 41.98, a PEG ratio of 2.86 and a beta of 1.13. Arista Networks, Inc. has a 12-month low of $148.32 and a 12-month high of $329.04. The firm’s fifty day moving average is $286.76 and its 200 day moving average is $260.44.

Arista Networks declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, May 7th that authorizes the company to buyback $1.20 billion in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 1.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On Arista Networks

Several institutional investors have recently made changes to their positions in ANET. Private Advisor Group LLC grew its position in Arista Networks by 2.5% in the 3rd quarter. Private Advisor Group LLC now owns 4,137 shares of the technology company’s stock valued at $761,000 after purchasing an additional 102 shares during the period. Larson Financial Group LLC acquired a new position in shares of Arista Networks during the third quarter valued at about $28,000. US Bancorp DE increased its position in shares of Arista Networks by 4.5% during the third quarter. US Bancorp DE now owns 40,274 shares of the technology company’s stock worth $7,408,000 after acquiring an additional 1,738 shares in the last quarter. Corient Private Wealth LLC increased its position in shares of Arista Networks by 0.6% during the third quarter. Corient Private Wealth LLC now owns 115,862 shares of the technology company’s stock worth $21,313,000 after acquiring an additional 680 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in shares of Arista Networks by 5.6% in the 3rd quarter. Signaturefd LLC now owns 5,967 shares of the technology company’s stock worth $1,098,000 after acquiring an additional 319 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on ANET shares. Oppenheimer restated a “market perform” rating on shares of Arista Networks in a report on Tuesday, February 13th. Wells Fargo & Company upped their price target on shares of Arista Networks from $310.00 to $340.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. Jefferies Financial Group upgraded shares of Arista Networks from a “hold” rating to a “buy” rating and lifted their price target for the stock from $240.00 to $320.00 in a report on Friday, May 3rd. Barclays increased their price objective on Arista Networks from $311.00 to $320.00 and gave the company an “overweight” rating in a report on Thursday, May 9th. Finally, JPMorgan Chase & Co. lifted their target price on Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $295.22.

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.