Arista Networks (NYSE:ANET) Shares Up 1.4%

Arista Networks, Inc. (NYSE:ANET)’s share price was up 1.4% during trading on Tuesday . The company traded as high as $251.25 and last traded at $248.84. Approximately 599,040 shares traded hands 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 topic of a number of research analyst reports. Evercore ISI restated an “outperform” rating and set a $300.00 price target on shares of Arista Networks in a research note on Wednesday, March 27th. Oppenheimer restated a “market perform” rating on shares of Arista Networks in a research note on Tuesday, February 13th. KeyCorp boosted their price target on Arista Networks from $232.00 to $287.00 and gave the company an “overweight” rating in a research note on Thursday, January 18th. Melius upgraded Arista Networks from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. Finally, Piper Sandler increased their price objective on shares of Arista Networks from $254.00 to $268.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 13th. 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $275.59.

Arista Networks Stock Up 2.0 %

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. The stock’s 50-day moving average price is $279.58 and its 200 day moving average price is $245.79.

Arista Networks (NYSE:ANET) last issued its earnings results 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. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the company earned $1.25 EPS. On average, sell-side analysts anticipate that Arista Networks, Inc. will post 6.7 earnings per share for the current year.

Insider Activity at Arista Networks

In related news, Director Yvonne Wassenaar sold 224 shares of the business’s 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 Securities & Exchange Commission, which is available through this link. In other news, Director Yvonne Wassenaar sold 224 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $255.29, for a total transaction of $57,184.96. Following the sale, the director now owns 2,827 shares of the company’s stock, valued at $721,704.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jayshree Ullal sold 733 shares of the 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 $19,851,412.65. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 334,227 shares of company stock worth $95,828,875. Company insiders own 18.99% of the company’s stock.

Hedge Funds Weigh In On Arista Networks

A number of institutional investors and hedge funds have recently made changes to their positions in ANET. Nations Financial Group Inc. IA ADV grew its stake in shares of Arista Networks by 4.5% during the first quarter. Nations Financial Group Inc. IA ADV now owns 2,628 shares of the technology company’s stock worth $762,000 after purchasing an additional 114 shares in the last quarter. Fifth Third Bancorp lifted its holdings in Arista Networks by 15.8% during the 1st quarter. Fifth Third Bancorp now owns 139,298 shares of the technology company’s stock worth $40,394,000 after buying an additional 19,048 shares during the last quarter. Summit Trail Advisors LLC boosted its position in shares of Arista Networks by 25.4% during the 1st quarter. Summit Trail Advisors LLC now owns 2,014 shares of the technology company’s stock worth $584,000 after acquiring an additional 408 shares in the last quarter. Stablepoint Partners LLC increased its holdings in shares of Arista Networks by 4.2% in the 1st quarter. Stablepoint Partners LLC now owns 3,585 shares of the technology company’s stock valued at $1,040,000 after acquiring an additional 143 shares during the last quarter. Finally, Petra Financial Advisors Inc. purchased a new position in shares of Arista Networks in the 1st quarter valued at about $939,000. 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.