Marc Taxay Sells 624 Shares of Arista Networks, Inc. (NYSE:ANET) Stock

by · The Markets Daily

Arista Networks, Inc. (NYSE:ANET – Get Free Report) SVP Marc Taxay sold 624 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $388.37, for a total transaction of $242,342.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

  • On Tuesday, September 3rd, Marc Taxay sold 4,497 shares of Arista Networks stock. The stock was sold at an average price of $336.32, for a total value of $1,512,431.04.
  • On Thursday, August 1st, Marc Taxay sold 628 shares of Arista Networks stock. The shares were sold at an average price of $350.50, for a total value of $220,114.00.

Arista Networks Stock Performance

Shares of ANET stock opened at $395.99 on Friday. The firm has a fifty day moving average of $351.55 and a 200-day moving average of $323.80. The stock has a market cap of $124.09 billion, a price-to-earnings ratio of 55.15, a P/E/G ratio of 3.04 and a beta of 1.07. Arista Networks, Inc. has a 52-week low of $168.25 and a 52-week high of $396.80.

Arista Networks (NYSE:ANET – Get Free Report) last announced its quarterly earnings results on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.38. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The firm had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter last year, the company earned $1.41 earnings per share. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. On average, sell-side analysts predict that Arista Networks, Inc. will post 7.38 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have commented on ANET. Barclays increased their price target on Arista Networks from $320.00 to $341.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. lifted their target price on shares of Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. The Goldman Sachs Group upped their price target on shares of Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Wells Fargo & Company lifted their price objective on Arista Networks from $340.00 to $390.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Finally, Evercore ISI increased their target price on Arista Networks from $400.00 to $425.00 and gave the company an “outperform” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $364.81.

Check Out Our Latest Stock Analysis on ANET

Institutional Trading of Arista Networks

Several institutional investors have recently bought and sold shares of ANET. Benjamin Edwards Inc. acquired a new position in Arista Networks in the first quarter valued at about $26,000. Beacon Capital Management LLC boosted its holdings in shares of Arista Networks by 500.0% in the 2nd quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock worth $27,000 after acquiring an additional 65 shares in the last quarter. LGT Financial Advisors LLC bought a new stake in Arista Networks during the 2nd quarter worth approximately $27,000. Financial Synergies Wealth Advisors Inc. increased its holdings in Arista Networks by 872.7% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock valued at $31,000 after purchasing an additional 96 shares in the last quarter. Finally, Byrne Asset Management LLC bought a new position in Arista Networks in the 2nd quarter valued at $33,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Company Profile

(Get Free Report)

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.

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