Arista Networks (NYSE:ANET) Trading Up 1.4%

Shares of Arista Networks, Inc. (NYSE:ANET) were up 1.4% during trading on Tuesday . The stock 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 Upgrades and Downgrades

A number of brokerages have weighed in on ANET. JPMorgan Chase & Co. upped their price target on Arista Networks from $297.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Rosenblatt Securities reiterated a “sell” rating and set a $210.00 target price on shares of Arista Networks in a research report on Friday, April 12th. KeyCorp lifted their price target on shares of Arista Networks from $232.00 to $287.00 and gave the company an “overweight” rating in a report on Thursday, January 18th. Barclays upped their price objective on shares of Arista Networks from $272.00 to $311.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 13th. Finally, The Goldman Sachs Group boosted their target price on Arista Networks from $313.00 to $356.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. One research 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $275.59.

Arista Networks Price Performance

The business has a 50 day moving average of $279.58 and a 200 day moving average of $245.79. The firm has a market capitalization of $78.26 billion, a price-to-earnings ratio of 37.88, a PEG ratio of 2.10 and a beta of 1.09.

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

Insider Buying and Selling at Arista Networks

In related news, CEO Jayshree Ullal sold 733 shares of the company’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $268.15, for a total value of $196,553.95. Following the completion of the sale, the chief executive officer now owns 74,031 shares in the company, valued at approximately $19,851,412.65. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Yvonne Wassenaar sold 224 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total value of $57,184.96. Following the completion of the transaction, the director now owns 2,827 shares in the company, valued at $721,704.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jayshree Ullal sold 733 shares of the firm’s stock in a transaction 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 in the company, valued at $19,851,412.65. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 334,227 shares of company stock valued at $95,828,875. Corporate insiders own 18.99% of the company’s stock.

Hedge Funds Weigh In On Arista Networks

A number of large investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC bought a new position in shares of Arista Networks during the third quarter worth about $28,000. First Command Advisory Services Inc. bought a new position in shares of Arista Networks during the 3rd quarter worth approximately $29,000. Financial Synergies Wealth Advisors Inc. raised its holdings in shares of Arista Networks by 872.7% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock valued at $31,000 after purchasing an additional 96 shares during the last quarter. BluePath Capital Management LLC bought a new stake in shares of Arista Networks in the third quarter worth $33,000. Finally, NBC Securities Inc. acquired a new position in Arista Networks during the third quarter worth $33,000. Institutional investors own 82.47% of the company’s stock.

About Arista Networks

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.