Arista Networks (NYSE:ANET) Trading 1.6% Higher

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

Analysts Set New Price Targets

A number of analysts have recently commented on ANET shares. Evercore ISI reaffirmed an “outperform” rating and issued a $300.00 price target on shares of Arista Networks in a research note on Wednesday, March 27th. Needham & Company LLC reiterated a “buy” rating and issued a $320.00 price objective on shares of Arista Networks in a research report on Tuesday, February 13th. Barclays boosted their price objective on Arista Networks from $272.00 to $311.00 and gave the company an “overweight” rating in a research report on Tuesday, February 13th. JMP Securities reiterated a “market outperform” rating and issued a $325.00 price objective on shares of Arista Networks in a research report on Tuesday, February 13th. Finally, Jefferies Financial Group upgraded Arista Networks from a “hold” rating to a “buy” rating and boosted their price objective for the company from $240.00 to $320.00 in a research report on Friday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, Arista Networks presently has an average rating of “Moderate Buy” and an average target price of $285.53.

Arista Networks Trading Up 1.6 %

The company has a market cap of $87.17 billion, a P/E ratio of 42.44, a PEG ratio of 2.33 and a beta of 1.13. The business has a 50 day moving average price of $279.07 and a 200-day moving average price of $250.02.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The company had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the prior year, the business posted $1.25 EPS. The business’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 earnings per share for the current year.

Insider Activity at Arista Networks

In related news, Director Yvonne Wassenaar sold 224 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $255.29, for a total value of $57,184.96. Following the sale, the director now owns 2,827 shares in the company, valued at approximately $721,704.83. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $284.31, for a total transaction of $5,686,200.00. Following the transaction, the senior vice president now owns 3,244 shares in the company, valued at approximately $922,301.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Yvonne Wassenaar sold 224 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $255.29, for a total value of $57,184.96. Following the transaction, the director now owns 2,827 shares in the company, valued at approximately $721,704.83. The disclosure for this sale can be found here. In the last quarter, insiders have sold 335,974 shares of company stock worth $96,252,685. Company insiders own 3.54% of the company’s stock.

Institutional Trading of Arista Networks

Large investors have recently modified their holdings of the stock. Pinnacle Associates Ltd. acquired a new stake in Arista Networks in the third quarter valued at about $208,000. Raymond James & Associates boosted its stake in Arista Networks by 0.3% in the third quarter. Raymond James & Associates now owns 158,390 shares of the technology company’s stock valued at $29,133,000 after buying an additional 397 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Arista Networks by 16.1% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 21,642 shares of the technology company’s stock valued at $3,981,000 after buying an additional 3,005 shares in the last quarter. Stratos Wealth Advisors LLC boosted its stake in shares of Arista Networks by 7.6% during the third quarter. Stratos Wealth Advisors LLC now owns 1,607 shares of the technology company’s stock valued at $296,000 after purchasing an additional 114 shares in the last quarter. Finally, BluePath Capital Management LLC acquired a new stake in shares of Arista Networks during the third quarter valued at about $33,000. 82.47% of the stock is owned by institutional investors and hedge funds.

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.