Arista Networks Inc (NYSE:ANET) insider Anshul Sadana sold 24,000 shares of the stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $256.25, for a total value of $6,150,000.00. Following the sale, the insider now owns 80,972 shares in the company, valued at approximately $20,749,075. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Arista Networks Inc (NYSE ANET) opened at $270.84 on Friday. Arista Networks Inc has a one year low of $87.54 and a one year high of $271.87. The company has a quick ratio of 3.07, a current ratio of 3.66 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $19,800.00, a PE ratio of 56.19, a price-to-earnings-growth ratio of 2.03 and a beta of 1.38.
Arista Networks (NYSE:ANET) last released its earnings results on Thursday, November 2nd. The technology company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.33. Arista Networks had a return on equity of 24.76% and a net margin of 25.10%. equities research analysts expect that Arista Networks Inc will post 4.63 EPS for the current fiscal year.
Several analysts have recently commented on ANET shares. BidaskClub upgraded Arista Networks from a “hold” rating to a “buy” rating in a report on Saturday, September 23rd. Berenberg Bank started coverage on Arista Networks in a report on Tuesday, September 26th. They set a “buy” rating and a $225.00 target price on the stock. Citigroup restated a “buy” rating and set a $215.00 target price on shares of Arista Networks in a report on Wednesday, September 27th. BMO Capital Markets lowered Arista Networks from an “outperform” rating to a “market perform” rating and set a $190.00 price target on the stock. in a research note on Thursday, September 28th. They noted that the move was a valuation call. Finally, KeyCorp reaffirmed a “buy” rating and set a $200.00 price target on shares of Arista Networks in a research note on Friday, September 29th. Fourteen analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $205.66.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital Research Global Investors raised its position in shares of Arista Networks by 2.8% during the second quarter. Capital Research Global Investors now owns 7,579,814 shares of the technology company’s stock worth $1,135,380,000 after purchasing an additional 209,783 shares during the period. Vanguard Group Inc. raised its position in shares of Arista Networks by 7.1% during the second quarter. Vanguard Group Inc. now owns 3,763,999 shares of the technology company’s stock worth $563,810,000 after purchasing an additional 249,753 shares during the period. BlackRock Inc. raised its position in shares of Arista Networks by 41.1% during the second quarter. BlackRock Inc. now owns 2,376,973 shares of the technology company’s stock worth $356,048,000 after purchasing an additional 692,651 shares during the period. State Street Corp raised its position in shares of Arista Networks by 44.7% during the second quarter. State Street Corp now owns 1,063,294 shares of the technology company’s stock worth $159,278,000 after purchasing an additional 328,534 shares during the period. Finally, Ameriprise Financial Inc. raised its position in shares of Arista Networks by 2.9% during the third quarter. Ameriprise Financial Inc. now owns 649,475 shares of the technology company’s stock worth $123,136,000 after purchasing an additional 18,465 shares during the period. 57.96% of the stock is currently owned by institutional investors.
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Arista Networks Company Profile
Arista Networks, Inc is a supplier of cloud networking solutions that use software innovations to address the needs of Internet companies, cloud service providers and data centers for enterprise support. It develops, markets and sells cloud networking solutions, which consist of its Gigabit Ethernet switches and related software.
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