Arista Networks (NYSE:ANET) Trading Up 0.2%

Arista Networks, Inc. (NYSE:ANET) rose 0.2% during mid-day trading on Monday . The company traded as high as $271.42 and last traded at $265.23. Approximately 498,171 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 2,458,442 shares. The stock had previously closed at $264.70.

Wall Street Analysts Forecast Growth

ANET has been the topic of a number of recent analyst reports. Morgan Stanley boosted their target price on shares of Arista Networks from $230.00 to $272.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Evercore ISI restated an “outperform” rating and set a $300.00 target price on shares of Arista Networks in a report on Wednesday, March 27th. Melius upgraded shares of Arista Networks from a “hold” rating to a “buy” rating in a report on Monday, January 8th. Piper Sandler boosted their target price on shares of Arista Networks from $254.00 to $268.00 and gave the stock a “neutral” rating in a report on Tuesday, February 13th. Finally, Needham & Company LLC restated a “buy” rating and set a $320.00 target price on shares of Arista Networks in a report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $275.59.

Arista Networks Stock Down 1.0 %

The company’s 50 day moving average is $279.07 and its 200 day moving average is $248.57. The firm has a market capitalization of $79.67 billion, a price-to-earnings ratio of 39.05, a P/E/G ratio of 2.25 and a beta of 1.09.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.38. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the prior year, the business posted $1.25 earnings per share. Arista Networks’s revenue was up 20.8% compared to the same quarter last year. On average, analysts expect that Arista Networks, Inc. will post 6.7 EPS for the current year.

Insider Transactions at Arista Networks

In other news, CEO Jayshree Ullal sold 22,000 shares of the stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $303.00, for a total value of $6,666,000.00. Following the completion of the transaction, the chief executive officer now owns 1,665,300 shares of the company’s stock, valued at $504,585,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $290.05, for a total value of $5,801,000.00. Following the completion of the transaction, the senior vice president now owns 3,244 shares of the company’s stock, valued at $940,922.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jayshree Ullal sold 22,000 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $303.00, for a total transaction of $6,666,000.00. Following the sale, the chief executive officer now directly owns 1,665,300 shares of the company’s stock, valued at approximately $504,585,900. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 332,514 shares of company stock valued at $95,369,397. 18.99% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Arista Networks

A number of large investors have recently modified their holdings of ANET. FMR LLC lifted its holdings in shares of Arista Networks by 32.2% in the 3rd quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock worth $1,897,906,000 after purchasing an additional 2,515,864 shares in the last quarter. Norges Bank bought a new position in Arista Networks during the 4th quarter valued at $586,051,000. Vanguard Group Inc. lifted its stake in Arista Networks by 5.7% during the 4th quarter. Vanguard Group Inc. now owns 29,494,876 shares of the technology company’s stock valued at $6,946,338,000 after acquiring an additional 1,596,040 shares in the last quarter. Schroder Investment Management Group lifted its stake in Arista Networks by 439.3% during the 3rd quarter. Schroder Investment Management Group now owns 1,259,305 shares of the technology company’s stock valued at $231,624,000 after acquiring an additional 1,025,815 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its stake in Arista Networks by 25,188.0% during the 4th quarter. International Assets Investment Management LLC now owns 613,739 shares of the technology company’s stock valued at $1,445,420,000 after acquiring an additional 611,312 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

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.