Arista Networks (NYSE:ANET) Trading Down 0.5%

Arista Networks, Inc. (NYSE:ANET)’s share price fell 0.5% on Tuesday . The company traded as low as $261.75 and last traded at $262.48. 353,201 shares were traded during mid-day trading, a decline of 86% from the average session volume of 2,444,573 shares. The stock had previously closed at $263.67.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ANET. Evercore ISI reissued an “outperform” rating and issued a $300.00 price target on shares of Arista Networks in a report on Wednesday, March 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $320.00 price objective on shares of Arista Networks in a report on Tuesday, February 13th. Wells Fargo & Company raised their price objective on shares of Arista Networks from $225.00 to $310.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. Oppenheimer reaffirmed a “market perform” rating on shares of Arista Networks in a report on Tuesday, February 13th. Finally, The Goldman Sachs Group raised their price objective on shares of 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 issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $275.59.

Arista Networks Stock Performance

The firm’s 50-day moving average price is $279.13 and its 200 day moving average price is $248.11. The company has a market cap of $80.46 billion, a price-to-earnings ratio of 39.95, a PEG ratio of 2.26 and a beta of 1.09.

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

Insider Activity at Arista Networks

In related news, CEO Jayshree Ullal sold 87,418 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $278.81, for a total transaction of $24,373,012.58. Following the completion of the transaction, the chief executive officer now owns 17,681 shares in the company, valued at $4,929,639.61. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Arista Networks news, CEO Jayshree Ullal sold 87,418 shares of Arista Networks stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $278.81, for a total value of $24,373,012.58. Following the transaction, the chief executive officer now owns 17,681 shares of the company’s stock, valued at $4,929,639.61. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $290.05, for a total transaction of $5,801,000.00. Following the completion of the transaction, the senior vice president now directly owns 3,244 shares in the company, valued at approximately $940,922.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 332,514 shares of company stock worth $95,369,397. 18.99% of the stock is currently owned by company insiders.

Institutional Trading of Arista Networks

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ballentine Partners LLC acquired a new position in shares of Arista Networks in the third quarter valued at $262,000. Valeo Financial Advisors LLC grew its stake in shares of Arista Networks by 18.6% in the third quarter. Valeo Financial Advisors LLC now owns 1,590 shares of the technology company’s stock valued at $292,000 after acquiring an additional 249 shares in the last quarter. Brookstone Capital Management acquired a new position in shares of Arista Networks in the third quarter valued at about $1,561,000. Commonwealth Equity Services LLC grew its stake in shares of Arista Networks by 41.2% in the third quarter. Commonwealth Equity Services LLC now owns 90,691 shares of the technology company’s stock valued at $16,681,000 after acquiring an additional 26,472 shares in the last quarter. Finally, RMR Wealth Builders lifted its position in Arista Networks by 62.7% during the third quarter. RMR Wealth Builders now owns 6,215 shares of the technology company’s stock worth $1,143,000 after purchasing an additional 2,396 shares during the period. 82.47% of the stock is owned by institutional investors.

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.