Anshul Sadana Sells 1,612 Shares of Arista Networks, Inc. (NYSE:ANET) Stock

Arista Networks, Inc. (NYSE:ANET) COO Anshul Sadana sold 1,612 shares of Arista Networks stock in a transaction that occurred on Wednesday, November 18th. The shares were sold at an average price of $280.05, for a total transaction of $451,440.60. Following the sale, the chief operating officer now owns 2,761 shares in the company, valued at approximately $773,218.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Anshul Sadana also recently made the following trade(s):

  • On Friday, November 13th, Anshul Sadana sold 8,686 shares of Arista Networks stock. The shares were sold at an average price of $270.41, for a total transaction of $2,348,781.26.
  • On Monday, November 9th, Anshul Sadana sold 382 shares of Arista Networks stock. The shares were sold at an average price of $270.28, for a total transaction of $103,246.96.
  • On Friday, November 6th, Anshul Sadana sold 3,169 shares of Arista Networks stock. The shares were sold at an average price of $260.04, for a total transaction of $824,066.76.
  • On Tuesday, November 3rd, Anshul Sadana sold 3,166 shares of Arista Networks stock. The shares were sold at an average price of $252.12, for a total transaction of $798,211.92.

ANET stock opened at $268.50 on Friday. Arista Networks, Inc. has a 1-year low of $156.63 and a 1-year high of $280.35. The firm has a fifty day moving average price of $232.73 and a two-hundred day moving average price of $223.04. The firm has a market cap of $20.31 billion, a price-to-earnings ratio of 30.07, a PEG ratio of 3.73 and a beta of 1.04.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Monday, November 2nd. The technology company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.20. Arista Networks had a net margin of 32.06% and a return on equity of 20.37%. The company had revenue of $605.40 million during the quarter, compared to the consensus estimate of $581.55 million. During the same quarter in the previous year, the company posted $2.69 earnings per share. The company’s revenue for the quarter was down 7.5% compared to the same quarter last year. As a group, equities research analysts predict that Arista Networks, Inc. will post 7.66 earnings per share for the current fiscal year.

A number of analysts have recently issued reports on the stock. UBS Group assumed coverage on shares of Arista Networks in a research note on Wednesday, September 23rd. They set a “buy” rating and a $260.00 price objective on the stock. Citigroup lowered shares of Arista Networks from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $290.00 to $230.00 in a research note on Monday, October 12th. Morgan Stanley upgraded shares of Arista Networks from an “equal weight” rating to an “overweight” rating and set a $250.00 price target for the company in a research note on Friday, October 30th. MKM Partners upgraded shares of Arista Networks from a “neutral” rating to a “buy” rating and set a $225.00 price target for the company in a research note on Friday, October 30th. Finally, Wells Fargo & Company lifted their price target on shares of Arista Networks from $230.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 3rd. Thirteen equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Arista Networks has an average rating of “Hold” and a consensus target price of $239.45.

Several institutional investors and hedge funds have recently made changes to their positions in the company. First Trust Advisors LP boosted its holdings in shares of Arista Networks by 9.8% during the third quarter. First Trust Advisors LP now owns 1,602,844 shares of the technology company’s stock valued at $331,677,000 after acquiring an additional 143,594 shares during the period. Epoch Investment Partners Inc. boosted its holdings in shares of Arista Networks by 43.0% during the third quarter. Epoch Investment Partners Inc. now owns 871,778 shares of the technology company’s stock valued at $180,397,000 after acquiring an additional 262,329 shares during the period. UBS Asset Management Americas Inc. boosted its holdings in shares of Arista Networks by 8.5% during the third quarter. UBS Asset Management Americas Inc. now owns 840,258 shares of the technology company’s stock valued at $173,875,000 after acquiring an additional 65,542 shares during the period. Sei Investments Co. boosted its holdings in shares of Arista Networks by 19.7% during the second quarter. Sei Investments Co. now owns 410,736 shares of the technology company’s stock valued at $86,307,000 after acquiring an additional 67,728 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Arista Networks by 10.0% in the second quarter. Bank of New York Mellon Corp now owns 408,660 shares of the technology company’s stock worth $85,831,000 after purchasing an additional 37,070 shares during the period. 58.99% of the stock is owned by institutional investors.

About Arista Networks

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.

Recommended Story: Trading Strategy

Insider Buying and Selling by Quarter for Arista Networks (NYSE:ANET)

Receive News & Ratings for Arista Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arista Networks and related companies with MarketBeat.com's FREE daily email newsletter.