Arista Networks Inc (NYSE:ANET) Director Ann Mather sold 834 shares of the company’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $272.60, for a total transaction of $227,348.40. Following the completion of the sale, the director now directly owns 5,834 shares of the company’s stock, valued at $1,590,348.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of ANET stock traded up $4.47 during trading hours on Friday, hitting $274.97. The company’s stock had a trading volume of 746,400 shares, compared to its average volume of 912,022. The firm has a market capitalization of $20.50 billion, a PE ratio of 38.89, a P/E/G ratio of 1.64 and a beta of 1.40. Arista Networks Inc has a twelve month low of $187.08 and a twelve month high of $313.37. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.48 and a quick ratio of 4.04.
Arista Networks (NYSE:ANET) last released its quarterly earnings results on Thursday, February 14th. The technology company reported $2.25 EPS for the quarter, beating the consensus estimate of $1.80 by $0.45. The business had revenue of $595.70 million for the quarter, compared to analyst estimates of $591.41 million. Arista Networks had a net margin of 29.47% and a return on equity of 29.37%. The company’s quarterly revenue was up 27.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.71 earnings per share. As a group, sell-side analysts anticipate that Arista Networks Inc will post 8.2 earnings per share for the current year.
Several research firms recently issued reports on ANET. Nomura raised shares of Arista Networks from a “neutral” rating to a “buy” rating and set a $260.00 price target for the company in a report on Friday, January 18th. Morgan Stanley raised shares of Arista Networks from an “equal weight” rating to an “overweight” rating and cut their price target for the stock from $290.00 to $250.00 in a report on Monday, January 7th. ValuEngine cut shares of Arista Networks from a “hold” rating to a “sell” rating in a report on Tuesday, January 29th. Zacks Investment Research cut shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, January 3rd. Finally, JPMorgan Chase & Co. increased their price target on shares of Arista Networks from $255.00 to $262.00 and gave the stock a “hold” rating in a report on Friday, November 2nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $294.06.
A number of hedge funds and other institutional investors have recently made changes to their positions in ANET. First Hawaiian Bank acquired a new stake in Arista Networks during the third quarter worth approximately $548,000. IFM Investors Pty Ltd raised its stake in Arista Networks by 16.3% during the third quarter. IFM Investors Pty Ltd now owns 2,705 shares of the technology company’s stock worth $719,000 after purchasing an additional 379 shares during the period. Texas Permanent School Fund purchased a new position in Arista Networks during the third quarter worth approximately $3,081,000. Chevy Chase Trust Holdings Inc. purchased a new position in Arista Networks during the third quarter worth approximately $11,354,000. Finally, Retirement Systems of Alabama purchased a new position in Arista Networks during the third quarter worth approximately $6,320,000. Hedge funds and other institutional investors own 56.99% of the company’s stock.
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About Arista Networks
Arista Networks, Inc provides cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of its 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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