Arista Networks Inc (NYSE:ANET) SVP Sells $489,760.00 in Stock

Arista Networks Inc (NYSE:ANET) SVP Marc Taxay sold 2,000 shares of Arista Networks stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $244.88, for a total transaction of $489,760.00. Following the transaction, the senior vice president now directly owns 15,066 shares in the company, valued at $3,689,362.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

  • On Wednesday, May 1st, Marc Taxay sold 2,000 shares of Arista Networks stock. The stock was sold at an average price of $314.93, for a total transaction of $629,860.00.
  • On Monday, April 1st, Marc Taxay sold 2,000 shares of Arista Networks stock. The stock was sold at an average price of $317.56, for a total transaction of $635,120.00.

Shares of NYSE:ANET opened at $259.62 on Friday. Arista Networks Inc has a 52 week low of $187.08 and a 52 week high of $331.27. The firm has a 50 day moving average price of $250.06. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.70 and a current ratio of 5.34. The stock has a market cap of $19.82 billion, a P/E ratio of 36.72, a PEG ratio of 1.62 and a beta of 1.62.

Arista Networks (NYSE:ANET) last posted its earnings results on Thursday, May 2nd. The technology company reported $2.31 EPS for the quarter, beating the Zacks’ consensus estimate of $2.07 by $0.24. The firm had revenue of $595.42 million for the quarter, compared to the consensus estimate of $595.21 million. Arista Networks had a net margin of 30.36% and a return on equity of 29.36%. The company’s revenue was up 26.0% on a year-over-year basis. During the same period last year, the firm posted $1.66 EPS. As a group, research analysts expect that Arista Networks Inc will post 8.4 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the stock. Cigna Investments Inc. New lifted its stake in shares of Arista Networks by 2.4% in the 1st quarter. Cigna Investments Inc. New now owns 1,675 shares of the technology company’s stock worth $528,000 after acquiring an additional 40 shares during the period. CENTRAL TRUST Co lifted its stake in shares of Arista Networks by 42.6% in the first quarter. CENTRAL TRUST Co now owns 201 shares of the technology company’s stock valued at $63,000 after purchasing an additional 60 shares during the period. Montag & Caldwell LLC lifted its stake in shares of Arista Networks by 4.5% in the first quarter. Montag & Caldwell LLC now owns 1,410 shares of the technology company’s stock valued at $443,000 after purchasing an additional 61 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Arista Networks by 46.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 193 shares of the technology company’s stock valued at $61,000 after purchasing an additional 61 shares during the period. Finally, Metropolitan Life Insurance Co. NY lifted its stake in shares of Arista Networks by 0.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 10,580 shares of the technology company’s stock valued at $2,229,000 after purchasing an additional 64 shares during the period. Hedge funds and other institutional investors own 57.94% of the company’s stock.

A number of research firms recently issued reports on ANET. Goldman Sachs Group boosted their target price on shares of Arista Networks from $300.00 to $360.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $330.00 price objective (down previously from $340.00) on shares of Arista Networks in a report on Friday, June 7th. Nomura lifted their price objective on shares of Arista Networks from $275.00 to $375.00 and gave the company a “buy” rating in a report on Friday, April 26th. Credit Suisse Group boosted their target price on shares of Arista Networks from $317.00 to $347.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Finally, Morgan Stanley cut shares of Arista Networks from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $300.00 to $330.00 in a research note on Tuesday, April 23rd. Nine research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $312.17.

Arista Networks Company Profile

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, including universal leaf, spline, and universal spine products.

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