John F. Mccool Sells 1,585 Shares of Arista Networks, Inc. (NYSE:ANET) Stock

Arista Networks, Inc. (NYSE:ANET) insider John F. Mccool sold 1,585 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $394.33, for a total value of $625,013.05. Following the sale, the insider now directly owns 72 shares in the company, valued at approximately $28,391.76. This trade represents a 95.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Arista Networks Stock Performance

Arista Networks stock opened at $408.24 on Wednesday. The stock has a market capitalization of $128.57 billion, a price-to-earnings ratio of 49.07, a PEG ratio of 3.28 and a beta of 1.08. Arista Networks, Inc. has a 52-week low of $210.69 and a 52-week high of $431.97. The stock’s 50 day moving average price is $394.96 and its two-hundred day moving average price is $355.32.

Shares of Arista Networks are set to split on Wednesday, December 4th. The 4-1 split was announced on Thursday, November 7th. The newly minted shares will be payable to shareholders after the market closes on Tuesday, December 3rd.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Thursday, November 7th. The technology company reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.32. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.76 billion. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The business’s revenue was up 20.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.63 earnings per share. On average, equities research analysts forecast that Arista Networks, Inc. will post 7.75 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on ANET. JPMorgan Chase & Co. lifted their price target on Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Piper Sandler reissued a “neutral” rating and set a $421.00 target price (up from $345.00) on shares of Arista Networks in a report on Friday, November 8th. Wells Fargo & Company raised their price target on shares of Arista Networks from $390.00 to $460.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Barclays increased their price objective on Arista Networks from $341.00 to $495.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Finally, Rosenblatt Securities lifted their target price on Arista Networks from $265.00 to $320.00 and gave the stock a “sell” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $395.19.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Beacon Capital Management LLC increased its holdings in shares of Arista Networks by 500.0% during the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after acquiring an additional 65 shares in the last quarter. LGT Financial Advisors LLC acquired a new stake in Arista Networks in the 2nd quarter valued at $27,000. Byrne Asset Management LLC bought a new stake in Arista Networks during the 2nd quarter valued at $33,000. Sugarloaf Wealth Management LLC acquired a new position in Arista Networks during the second quarter worth $35,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Arista Networks in the second quarter valued at $35,000. 82.47% of the stock is owned by institutional investors and hedge funds.

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.