Arista Networks (NYSE:ANET) Trading Up 1.6%

Shares of Arista Networks, Inc. (NYSE:ANET) were up 1.6% during trading on Wednesday . The company traded as high as $260.90 and last traded at $255.29. Approximately 832,968 shares traded hands during trading, a decline of 66% from the average daily volume of 2,445,690 shares. The stock had previously closed at $251.18.

Wall Street Analyst Weigh In

ANET has been the topic of a number of research analyst reports. Rosenblatt Securities reissued a “sell” rating and issued a $210.00 price target on shares of Arista Networks in a research note on Friday, April 12th. JMP Securities reiterated a “market outperform” rating and set a $325.00 price target on shares of Arista Networks in a report on Tuesday, February 13th. JPMorgan Chase & Co. upped their target price on shares of Arista Networks from $297.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Oppenheimer restated a “market perform” rating on shares of Arista Networks in a report on Tuesday, February 13th. Finally, Barclays upped their price target on shares of Arista Networks from $272.00 to $311.00 and gave the company an “overweight” rating in a research report on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $275.59.

Arista Networks Stock Up 1.4 %

The stock has a market cap of $79.65 billion, a price-to-earnings ratio of 38.85, a price-to-earnings-growth ratio of 2.10 and a beta of 1.09. The firm’s 50 day moving average is $279.29 and its two-hundred day moving average is $246.19.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.70 by $0.38. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter last year, the business earned $1.25 earnings per share. Arista Networks’s revenue was up 20.8% compared to the same quarter last year. On average, analysts anticipate that Arista Networks, Inc. will post 6.7 EPS for the current fiscal year.

Insider Buying and Selling at Arista Networks

In other news, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $286.52, for a total value of $573,040.00. Following the completion of the transaction, the director now directly owns 60,946 shares in the company, valued at $17,462,247.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $286.52, for a total value of $573,040.00. Following the completion of the transaction, the director now directly owns 60,946 shares in the company, valued at $17,462,247.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jayshree Ullal sold 733 shares of the firm’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $268.15, for a total transaction of $196,553.95. Following the sale, the chief executive officer now owns 74,031 shares of the company’s stock, valued at $19,851,412.65. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 334,227 shares of company stock worth $95,828,875. 18.99% of the stock is owned by company insiders.

Institutional Trading of Arista Networks

Large investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC lifted its position in Arista Networks by 6.7% in the 3rd quarter. International Assets Investment Management LLC now owns 2,427 shares of the technology company’s stock worth $441,000 after buying an additional 153 shares in the last quarter. Arkadios Wealth Advisors boosted its position in shares of Arista Networks by 7.5% during the 3rd quarter. Arkadios Wealth Advisors now owns 1,474 shares of the technology company’s stock valued at $271,000 after acquiring an additional 103 shares in the last quarter. Flagship Harbor Advisors LLC bought a new position in Arista Networks during the 3rd quarter valued at about $204,000. DAVENPORT & Co LLC lifted its holdings in Arista Networks by 6.1% during the 3rd quarter. DAVENPORT & Co LLC now owns 6,179 shares of the technology company’s stock valued at $1,137,000 after purchasing an additional 354 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its holdings in Arista Networks by 74.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 14,070 shares of the technology company’s stock valued at $2,588,000 after purchasing an additional 6,014 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Company Profile

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.