Arista Networks (NYSE:ANET) Trading 1.6% Higher

Shares of Arista Networks, Inc. (NYSE:ANET) traded up 1.6% during trading on Monday . The stock traded as high as $279.16 and last traded at $278.82. 716,796 shares were traded during trading, a decline of 71% from the average session volume of 2,434,364 shares. The stock had previously closed at $274.40.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Wells Fargo & Company upped their price target on shares of Arista Networks from $225.00 to $310.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Barclays upped their price target on shares of Arista Networks from $272.00 to $311.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 13th. Rosenblatt Securities reissued a “sell” rating and issued a $210.00 price objective on shares of Arista Networks in a research report on Friday, April 12th. The Goldman Sachs Group increased their price objective on shares of Arista Networks from $313.00 to $356.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Finally, JMP Securities reissued a “market outperform” rating and issued a $325.00 price objective on shares of Arista Networks in a research report on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $285.53.

Arista Networks Trading Up 1.6 %

The stock has a market capitalization of $87.17 billion, a P/E ratio of 42.44, a P/E/G ratio of 2.33 and a beta of 1.13. The stock’s 50 day simple moving average is $279.07 and its 200 day simple moving average is $250.02.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the prior year, the firm posted $1.25 EPS. The firm’s revenue was up 20.8% compared to the same quarter last year. On average, sell-side analysts expect that Arista Networks, Inc. will post 6.74 EPS for the current fiscal year.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $284.31, for a total transaction of $5,686,200.00. Following the sale, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at $922,301.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $284.31, for a total transaction of $5,686,200.00. Following the sale, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at $922,301.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jayshree Ullal sold 22,000 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $303.00, for a total transaction of $6,666,000.00. Following the sale, the chief executive officer now directly owns 1,665,300 shares in the company, valued at $504,585,900. The disclosure for this sale can be found here. Insiders have sold 335,974 shares of company stock worth $96,252,685 in the last ninety days. 3.54% of the stock is owned by insiders.

Institutional Trading of Arista Networks

Large investors have recently modified their holdings of the company. AXQ Capital LP acquired a new stake in shares of Arista Networks in the 3rd quarter worth about $791,000. Advisor Resource Council increased its stake in Arista Networks by 507.9% during the 4th quarter. Advisor Resource Council now owns 7,021 shares of the technology company’s stock valued at $1,653,000 after buying an additional 5,866 shares during the period. Bleakley Financial Group LLC increased its stake in Arista Networks by 4.6% during the 4th quarter. Bleakley Financial Group LLC now owns 4,445 shares of the technology company’s stock valued at $1,047,000 after buying an additional 194 shares during the period. WCM Investment Management LLC increased its stake in Arista Networks by 0.5% during the 4th quarter. WCM Investment Management LLC now owns 3,024,220 shares of the technology company’s stock valued at $716,649,000 after buying an additional 16,081 shares during the period. Finally, abrdn plc increased its stake in Arista Networks by 62.7% during the 4th quarter. abrdn plc now owns 113,851 shares of the technology company’s stock valued at $26,813,000 after buying an additional 43,889 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

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.