Arista Networks (NYSE:ANET) Stock Price Up 3.9% – Here’s What Happened

Shares of Arista Networks, Inc. (NYSE:ANET) shot up 3.9% during mid-day trading on Monday . The company traded as high as $86.30 and last traded at $86.41. 1,635,248 shares changed hands during trading, a decline of 81% from the average session volume of 8,545,322 shares. The stock had previously closed at $83.13.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Wells Fargo & Company restated an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Barclays reaffirmed an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. Morgan Stanley increased their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. UBS Group raised Arista Networks from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $112.00 to $115.00 in a research report on Wednesday, March 5th. Finally, Rosenblatt Securities reiterated a “sell” rating and issued a $80.00 price objective on shares of Arista Networks in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $114.00.

Arista Networks Trading Down 0.7 %

The business’s 50-day moving average is $101.47 and its two-hundred day moving average is $101.98. The firm has a market cap of $109.55 billion, a P/E ratio of 39.13, a P/E/G ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. On average, analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Insider Buying and Selling at Arista Networks

In related news, SVP Marc Taxay sold 51,848 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $88.59, for a total transaction of $4,593,214.32. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $118.47, for a total value of $9,477,600.00. Following the transaction, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at approximately $1,537,266.72. The trade was a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 491,001 shares of company stock valued at $49,112,111 in the last ninety days. Company insiders own 3.54% of the company’s stock.

Institutional Trading of Arista Networks

Several institutional investors have recently modified their holdings of the company. Stock Yards Bank & Trust Co. acquired a new stake in Arista Networks in the 4th quarter valued at about $242,000. GHE LLC lifted its stake in Arista Networks by 319.0% during the fourth quarter. GHE LLC now owns 28,368 shares of the technology company’s stock valued at $3,136,000 after purchasing an additional 21,597 shares during the last quarter. Colonial River Investments LLC boosted its holdings in Arista Networks by 327.6% during the fourth quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock worth $1,077,000 after buying an additional 7,466 shares in the last quarter. Unified Investment Management acquired a new position in Arista Networks in the fourth quarter worth approximately $630,000. Finally, Berkshire Capital Holdings Inc. increased its holdings in shares of Arista Networks by 257.6% in the fourth quarter. Berkshire Capital Holdings Inc. now owns 76,950 shares of the technology company’s stock valued at $8,505,000 after buying an additional 55,430 shares in the last quarter. Institutional investors and hedge funds 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.