Arista Networks (NYSE:ANET) Stock Price Up 1.4%

Arista Networks, Inc. (NYSE:ANET) shares rose 1.4% on Tuesday . The company traded as high as $251.25 and last traded at $248.84. Approximately 599,040 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 2,444,150 shares. The stock had previously closed at $245.47.

Analyst Ratings Changes

ANET has been the subject of a number of recent research reports. Barclays boosted their price objective on shares of Arista Networks from $272.00 to $311.00 and gave the stock an “overweight” rating in a report on Tuesday, February 13th. Wells Fargo & Company boosted their price objective on shares of Arista Networks from $225.00 to $310.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. The Goldman Sachs Group boosted their price objective on shares of Arista Networks from $313.00 to $356.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Morgan Stanley boosted their price objective on shares of Arista Networks from $230.00 to $272.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Finally, JPMorgan Chase & Co. upped their price target 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. One analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $275.59.

Arista Networks Stock Performance

The stock’s 50-day simple moving average is $279.08 and its 200-day simple moving average is $246.25. The firm has a market capitalization of $79.65 billion, a PE ratio of 38.78, a P/E/G ratio of 2.15 and a beta of 1.09.

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

Insider Transactions at Arista Networks

In other news, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $290.05, for a total value of $5,801,000.00. Following the sale, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at approximately $940,922.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $290.05, for a total transaction of $5,801,000.00. Following the sale, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at approximately $940,922.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jayshree Ullal sold 87,418 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $278.81, for a total transaction of $24,373,012.58. Following the sale, the chief executive officer now directly owns 17,681 shares in the company, valued at $4,929,639.61. The disclosure for this sale can be found here. Insiders have sold 333,494 shares of company stock valued at $95,632,321 in the last three months. 18.99% of the stock is currently owned by company insiders.

Institutional Trading of Arista Networks

Several institutional investors have recently bought and sold shares of ANET. Larson Financial Group LLC purchased a new stake in Arista Networks during the 3rd quarter valued at about $28,000. First Command Advisory Services Inc. bought a new position in Arista Networks during the 3rd quarter valued at about $29,000. Financial Synergies Wealth Advisors Inc. lifted its stake in Arista Networks by 872.7% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock valued at $31,000 after acquiring an additional 96 shares during the period. BluePath Capital Management LLC bought a new position in Arista Networks during the 3rd quarter valued at about $33,000. Finally, NBC Securities Inc. bought a new position in Arista Networks during the 3rd quarter valued at about $33,000. 82.47% of the stock is owned by hedge funds and other 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.