John F. Mccool Sells 584 Shares of Arista Networks, Inc. (NYSE:ANET) Stock

Arista Networks, Inc. (NYSE:ANETGet Free Report) insider John F. Mccool sold 584 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $300.40, for a total transaction of $175,433.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Arista Networks Trading Down 0.3 %

ANET stock opened at $296.53 on Friday. The company has a market capitalization of $92.92 billion, a P/E ratio of 41.30, a PEG ratio of 2.65 and a beta of 1.08. Arista Networks, Inc. has a twelve month low of $148.32 and a twelve month high of $329.04. The business has a 50 day simple moving average of $288.16 and a 200-day simple moving average of $266.64.

Arista Networks (NYSE:ANETGet Free Report) last posted its quarterly earnings data on Tuesday, May 7th. The technology company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.24. The business had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.55 billion. Arista Networks had a return on equity of 31.12% and a net margin of 37.64%. Research analysts predict that Arista Networks, Inc. will post 7.05 EPS for the current fiscal year.

Arista Networks announced that its board has authorized a stock buyback plan on Tuesday, May 7th that permits the company to repurchase $1.20 billion in shares. This repurchase authorization permits the technology company to purchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

ANET has been the topic of a number of recent research reports. Evercore ISI upped their target price on shares of Arista Networks from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Monday, May 20th. JPMorgan Chase & Co. upped their target price on shares of Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. KeyCorp upped their target price on shares of Arista Networks from $306.00 to $349.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. Jefferies Financial Group upgraded shares of Arista Networks from a “hold” rating to a “buy” rating and upped their target price for the stock from $240.00 to $320.00 in a research note on Friday, May 3rd. Finally, JMP Securities restated a “market outperform” rating and set a $325.00 target price on shares of Arista Networks in a research note on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $295.22.

View Our Latest Analysis on ANET

Institutional Investors Weigh In On Arista Networks

Several large investors have recently modified their holdings of the company. Benjamin Edwards Inc. acquired a new stake in shares of Arista Networks during the first quarter worth $26,000. Financial Synergies Wealth Advisors Inc. lifted its holdings in shares of Arista Networks by 872.7% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock worth $31,000 after purchasing an additional 96 shares during the period. Alaska Permanent Fund Corp purchased a new position in Arista Networks in the first quarter worth $37,000. Riverview Trust Co purchased a new position in Arista Networks in the first quarter worth $40,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new position in Arista Networks in the first quarter worth $42,000. 82.47% of the stock is owned by institutional investors and hedge funds.

About Arista Networks

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Arista Networks (NYSE:ANET)

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