Arista Networks Target of Unusually Large Options Trading (ANET)
Arista Networks, Inc. (NYSE:ANET) was the recipient of some unusual options trading on Friday. Traders acquired 9,656 call options on the company. This represents an increase of 1,047% compared to the average volume of 842 call options.
In other Arista Networks news, insider Jayshree Ullal sold 200,268 shares of the business’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $173.37, for a total transaction of $34,720,463.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Marc Taxay sold 2,000 shares of the business’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $147.51, for a total value of $295,020.00. Following the sale, the senior vice president now owns 11,775 shares in the company, valued at $1,736,930.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 847,016 shares of company stock worth $137,068,807. Company insiders own 28.09% of the company’s stock.
Several institutional investors have recently made changes to their positions in ANET. BlackRock Inc. raised its position in shares of Arista Networks by 34,238.9% in the first quarter. BlackRock Inc. now owns 1,684,322 shares of the technology company’s stock worth $222,784,000 after buying an additional 1,679,417 shares during the last quarter. Harbour Capital Advisors LLC raised its position in shares of Arista Networks by 13,502.2% in the second quarter. Harbour Capital Advisors LLC now owns 1,228,278 shares of the technology company’s stock worth $8,200,000 after buying an additional 1,219,248 shares during the last quarter. FMR LLC raised its position in shares of Arista Networks by 32.2% in the first quarter. FMR LLC now owns 3,288,755 shares of the technology company’s stock worth $435,004,000 after buying an additional 800,465 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Arista Networks by 12.8% in the first quarter. Vanguard Group Inc. now owns 3,514,246 shares of the technology company’s stock worth $464,830,000 after buying an additional 399,688 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Arista Networks during the fourth quarter worth $31,517,000. 60.84% of the stock is owned by institutional investors.
Arista Networks (ANET) opened at 167.46 on Thursday. The stock’s 50 day moving average price is $154.88 and its 200 day moving average price is $135.91. Arista Networks has a 12 month low of $73.82 and a 12 month high of $176.50. The firm has a market capitalization of $12.06 billion, a PE ratio of 54.09 and a beta of 1.33.
Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Thursday, August 3rd. The technology company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.15. Arista Networks had a net margin of 21.74% and a return on equity of 22.64%. The company had revenue of $405.21 million during the quarter, compared to analyst estimates of $361.02 million. During the same quarter in the previous year, the business earned $0.74 EPS. The firm’s revenue was up 50.8% on a year-over-year basis. Equities research analysts expect that Arista Networks will post $4.61 earnings per share for the current fiscal year.
A number of equities analysts have recently weighed in on the company. UBS AG boosted their price target on Arista Networks from $120.00 to $150.00 and gave the stock a “neutral” rating in a report on Wednesday, May 31st. Argus reissued a “buy” rating on shares of Arista Networks in a report on Monday. Stifel Nicolaus reissued a “hold” rating and issued a $165.00 price target (up from $145.00) on shares of Arista Networks in a report on Wednesday. Jefferies Group LLC reissued a “hold” rating and issued a $145.00 price target (up from $120.00) on shares of Arista Networks in a report on Wednesday. Finally, William Blair upgraded Arista Networks from a “market perform” rating to an “outperform” rating in a research note on Friday, August 4th. Sixteen equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Arista Networks currently has an average rating of “Buy” and an average target price of $153.32.
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Arista Networks Company Profile
Arista Networks, Inc is a supplier of cloud networking solutions that use software innovations to address the needs of Internet companies, cloud service providers and data centers for enterprise support. It develops, markets and sells cloud networking solutions, which consist of its Gigabit Ethernet switches and related software.
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