Marc Taxay, Senior Vice President and General Counsel at Arista Networks , Inc. (NYSE:ANET), recently sold a significant portion of his holdings in the company. According to a recent SEC filing, Taxay sold a total of 2,660 shares of common stock on December 2, 2024. The shares were sold at prices ranging from $406.47 to $416.01, amounting to a total transaction value of approximately $1.1 million. The sale comes as Arista Networks, with a market capitalization of $132.43 billion, has delivered an impressive 79% return year-to-date. According to InvestingPro analysis, the stock is currently trading above its Fair Value.
Following these transactions, Taxay no longer holds any shares in Arista Networks. The sales were part of a pre-arranged trading plan under Rule 10b5-1, which allows company insiders to sell a predetermined number of shares at a predetermined time to avoid accusations of insider trading. InvestingPro subscribers can access detailed insider trading patterns, valuation metrics, and 18 additional ProTips that provide comprehensive insights into Arista Networks' financial health and market position.
In other recent news, Arista Networks has made significant strides in its financial performance and business operations. The company recently reported a 20% year-over-year increase in revenue for the third quarter, reaching $1.81 billion and surpassing expectations. Non-GAAP earnings per share also saw a significant rise, reaching a record $2.40, a 31.1% increase from the previous year.
Arista Networks also announced a four-for-one forward stock split, a strategic move designed to enhance the liquidity of its shares in the market. This decision does not alter the proportional equity interests of existing shareholders but could make Arista's stock more accessible to a broader base of investors.
In terms of analyst evaluations, Citi reaffirmed its preference for Arista Networks, citing a positive outlook on the networking equipment sector. Furthermore, Arista Networks has projected a revenue of approximately $8 billion for 2025, indicating a compound annual growth rate in the double digits from 2024 to 2026. This projection reflects the company's positive outlook for the future, supported by its commitment to innovation and strategic initiatives.
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