Arista Networks Inc (NYSE:ANET) SVP Marc Taxay sold 2,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $225.20, for a total value of $450,400.00. Following the transaction, the senior vice president now owns 13,228 shares of the company’s stock, valued at $2,978,945.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Marc Taxay also recently made the following trade(s):
- On Thursday, August 1st, Marc Taxay sold 2,000 shares of Arista Networks stock. The stock was sold at an average price of $276.94, for a total value of $553,880.00.
- On Monday, July 1st, Marc Taxay sold 2,000 shares of Arista Networks stock. The stock was sold at an average price of $263.32, for a total value of $526,640.00.
ANET traded up $9.15 during mid-day trading on Thursday, hitting $235.38. 728,139 shares of the stock were exchanged, compared to its average volume of 907,643. The firm’s fifty day moving average is $242.22 and its two-hundred day moving average is $270.13. Arista Networks Inc has a 1-year low of $187.08 and a 1-year high of $331.27. The company has a current ratio of 5.77, a quick ratio of 5.17 and a debt-to-equity ratio of 0.04. The company has a market cap of $18.04 billion, a PE ratio of 33.29, a PEG ratio of 1.36 and a beta of 1.55.
Arista Networks (NYSE:ANET) last posted its earnings results on Thursday, August 1st. The technology company reported $2.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.98 by $0.46. Arista Networks had a return on equity of 28.76% and a net margin of 30.86%. The firm had revenue of $608.32 million for the quarter, compared to analyst estimates of $606.78 million. During the same quarter in the prior year, the company earned $1.93 EPS. Arista Networks’s revenue was up 17.0% on a year-over-year basis. As a group, research analysts anticipate that Arista Networks Inc will post 8.67 earnings per share for the current year.
A number of research firms have recently weighed in on ANET. Barclays began coverage on Arista Networks in a report on Wednesday, August 7th. They set an “overweight” rating and a $284.00 price target for the company. Goldman Sachs Group set a $290.00 price target on Arista Networks and gave the stock a “buy” rating in a report on Friday, August 30th. Royal Bank of Canada set a $300.00 price target on Arista Networks and gave the stock a “buy” rating in a report on Friday, July 19th. JMP Securities reiterated an “outperform” rating and set a $280.00 price target (down from $315.00) on shares of Arista Networks in a report on Friday, August 2nd. Finally, Piper Jaffray Companies reiterated an “overweight” rating and set a $330.00 price target (down from $340.00) on shares of Arista Networks in a report on Friday, June 7th. Eight investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Arista Networks has a consensus rating of “Buy” and an average price target of $305.74.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Commonwealth Equity Services LLC raised its position in Arista Networks by 15.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 13,694 shares of the technology company’s stock valued at $3,555,000 after purchasing an additional 1,854 shares in the last quarter. Valeo Financial Advisors LLC raised its position in Arista Networks by 24.2% in the 2nd quarter. Valeo Financial Advisors LLC now owns 190 shares of the technology company’s stock valued at $49,000 after purchasing an additional 37 shares in the last quarter. Swedbank raised its position in Arista Networks by 56.2% in the 2nd quarter. Swedbank now owns 757,942 shares of the technology company’s stock valued at $196,777,000 after purchasing an additional 272,722 shares in the last quarter. Thornburg Investment Management Inc. acquired a new stake in Arista Networks in the 1st quarter valued at about $18,463,000. Finally, Lido Advisors LLC acquired a new stake in Arista Networks in the 1st quarter valued at about $483,000. 60.28% of the stock is currently owned by hedge funds and other institutional investors.
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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