Arista Networks, Inc. (NYSE:ANET) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $184.50 and last traded at $183.98, with a volume of 568,198 shares traded. The stock had previously closed at $176.96.

ANET has been the subject of several recent research reports. Needham & Company LLC reiterated a “buy” rating and set a $150.00 price target on shares of Arista Networks in a report on Tuesday, July 4th. Zacks Investment Research downgraded Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Stifel Nicolaus reiterated a “hold” rating and set a $145.00 price target on shares of Arista Networks in a report on Friday, July 21st. BidaskClub downgraded Arista Networks from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 4th. Finally, Barclays PLC upped their price target on Arista Networks from $161.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, June 15th. Sixteen analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Arista Networks has a consensus rating of “Buy” and an average price target of $155.29.

The company has a market cap of $13.36 billion, a price-to-earnings ratio of 47.54 and a beta of 1.30. The stock has a 50 day moving average price of $169.27 and a 200 day moving average price of $148.96.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Thursday, August 3rd. The technology company reported $1.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.15. Arista Networks had a return on equity of 22.64% and a net margin of 21.74%. The business had revenue of $405.21 million for the quarter, compared to the consensus estimate of $361.02 million. During the same period in the previous year, the business earned $0.74 earnings per share. The business’s revenue was up 50.8% on a year-over-year basis. Equities analysts expect that Arista Networks, Inc. will post $4.70 earnings per share for the current fiscal year.

In other news, insider Jayshree Ullal sold 80,064 shares of the business’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $158.08, for a total value of $12,656,517.12. Following the transaction, the insider now directly owns 2,576 shares in the company, valued at $407,214.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Marc Taxay sold 2,000 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $148.52, for a total value of $297,040.00. Following the completion of the transaction, the senior vice president now owns 11,775 shares in the company, valued at $1,748,823. The disclosure for this sale can be found here. Insiders sold 634,332 shares of company stock worth $106,156,949 over the last 90 days. Company insiders own 28.09% of the company’s stock.

Several institutional investors have recently made changes to their positions in ANET. Advisors Asset Management Inc. lifted its position in shares of Arista Networks by 50.5% in the first quarter. Advisors Asset Management Inc. now owns 7,631 shares of the technology company’s stock valued at $1,009,000 after acquiring an additional 2,562 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Arista Networks by 45.6% in the first quarter. Bank of New York Mellon Corp now owns 207,912 shares of the technology company’s stock valued at $27,501,000 after acquiring an additional 65,120 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in shares of Arista Networks by 137.3% in the first quarter. BNP Paribas Arbitrage SA now owns 5,648 shares of the technology company’s stock valued at $747,000 after acquiring an additional 3,268 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Arista Networks by 39.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,814 shares of the technology company’s stock valued at $240,000 after acquiring an additional 509 shares in the last quarter. Finally, Swiss National Bank lifted its position in shares of Arista Networks by 0.9% in the first quarter. Swiss National Bank now owns 75,200 shares of the technology company’s stock valued at $9,947,000 after acquiring an additional 700 shares in the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

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About Arista Networks

Arista Networks, Inc is a supplier of cloud networking solutions that use software innovations to address the needs of Internet companies, cloud service providers and data centers for enterprise support. It develops, markets and sells cloud networking solutions, which consist of its Gigabit Ethernet switches and related software.

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