Arista Networks Inc (ANET) SVP Sells $76,692.33 in Stock

Arista Networks Inc (NYSE:ANET) SVP Manuel Felix Rivelo sold 303 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $253.11, for a total transaction of $76,692.33. Following the completion of the transaction, the senior vice president now directly owns 1,270 shares of the company’s stock, valued at approximately $321,449.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Manuel Felix Rivelo also recently made the following trade(s):

  • On Monday, March 18th, Manuel Felix Rivelo sold 702 shares of Arista Networks stock. The shares were sold at an average price of $300.00, for a total transaction of $210,600.00.

NYSE:ANET traded up $1.41 during mid-day trading on Thursday, hitting $254.55. The stock had a trading volume of 57,527 shares, compared to its average volume of 1,394,308. The stock has a market cap of $19.40 billion, a price-to-earnings ratio of 35.83, a price-to-earnings-growth ratio of 1.57 and a beta of 1.47. Arista Networks Inc has a twelve month low of $187.08 and a twelve month high of $331.27. The company has a quick ratio of 4.70, a current ratio of 5.34 and a debt-to-equity ratio of 0.04.

Arista Networks (NYSE:ANET) last issued its earnings results on Thursday, May 2nd. The technology company reported $2.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.07 by $0.24. The firm had revenue of $595.42 million for the quarter, compared to analysts’ expectations of $595.21 million. Arista Networks had a net margin of 30.36% and a return on equity of 29.36%. The firm’s revenue was up 26.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.66 earnings per share. On average, equities analysts anticipate that Arista Networks Inc will post 8.43 EPS for the current year.

A number of large investors have recently modified their holdings of ANET. Rehmann Capital Advisory Group raised its holdings in Arista Networks by 56.6% during the first quarter. Rehmann Capital Advisory Group now owns 296 shares of the technology company’s stock worth $93,000 after purchasing an additional 107 shares in the last quarter. Holderness Investments Co. acquired a new stake in Arista Networks during the first quarter worth approximately $267,000. Nordea Investment Management AB raised its holdings in Arista Networks by 10.8% during the first quarter. Nordea Investment Management AB now owns 3,304 shares of the technology company’s stock worth $1,038,000 after purchasing an additional 322 shares in the last quarter. Cleararc Capital Inc. acquired a new stake in Arista Networks during the first quarter worth approximately $272,000. Finally, Horizon Investments LLC acquired a new stake in Arista Networks during the first quarter worth approximately $297,000. 58.30% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have recently commented on ANET. Zacks Investment Research lowered shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 16th. KeyCorp raised their price objective on shares of Arista Networks from $320.00 to $350.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. They noted that the move was a valuation call. Morgan Stanley lowered shares of Arista Networks from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $300.00 to $330.00 in a research note on Tuesday, April 23rd. Needham & Company LLC reissued a “buy” rating and issued a $385.00 price objective (up previously from $315.00) on shares of Arista Networks in a research note on Monday, April 29th. Finally, Nomura raised their price objective on shares of Arista Networks from $275.00 to $375.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Nine investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Arista Networks presently has a consensus rating of “Buy” and an average price target of $314.13.

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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.

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