Arista Networks (NYSE:ANET) Stock Price Up 0.9%

Arista Networks, Inc. (NYSE:ANET) shares traded up 0.9% during mid-day trading on Friday . The stock traded as high as $270.25 and last traded at $267.07. 875,107 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 2,462,189 shares. The stock had previously closed at $264.76.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $325.00 price target on shares of Arista Networks in a report on Tuesday, February 13th. Morgan Stanley upped their price target on shares of Arista Networks from $230.00 to $272.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Wells Fargo & Company boosted their target price on shares of Arista Networks from $225.00 to $310.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. Barclays boosted their target price on shares of Arista Networks from $272.00 to $311.00 and gave the company an “overweight” rating in a research note on Tuesday, February 13th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Arista Networks in a research note on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Arista Networks currently has a consensus rating of “Moderate Buy” and a consensus price target of $275.59.

Arista Networks Price Performance

The firm has a market cap of $82.71 billion, a price-to-earnings ratio of 40.65, a P/E/G ratio of 2.18 and a beta of 1.09. The firm’s fifty day moving average is $279.04 and its two-hundred day moving average is $246.38.

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 the consensus estimate of $1.53 billion. During the same quarter in the prior year, the company posted $1.25 earnings per share. The company’s quarterly revenue was up 20.8% compared to the same quarter last year. On average, equities analysts forecast that Arista Networks, Inc. will post 6.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $286.52, for a total value of $573,040.00. Following the completion of the sale, the director now directly owns 60,946 shares of the company’s stock, valued at approximately $17,462,247.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $286.52, for a total transaction of $573,040.00. Following the completion of the sale, the director now directly owns 60,946 shares of the company’s stock, valued at $17,462,247.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $284.31, for a total transaction of $5,686,200.00. Following the sale, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at $922,301.64. The disclosure for this sale can be found here. In the last three months, insiders sold 333,494 shares of company stock valued at $95,632,321. 18.99% of the stock is owned by insiders.

Hedge Funds Weigh In On Arista Networks

Large investors have recently made changes to their positions in the business. Financial Synergies Wealth Advisors Inc. increased its holdings in Arista Networks by 872.7% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock worth $31,000 after buying an additional 96 shares during the last quarter. Alaska Permanent Fund Corp acquired a new position in Arista Networks in the first quarter worth approximately $37,000. Riverview Trust Co acquired a new position in Arista Networks during the first quarter valued at approximately $40,000. Redmont Wealth Advisors LLC acquired a new position in Arista Networks during the first quarter valued at approximately $42,000. Finally, Rakuten Securities Inc. acquired a new position in Arista Networks during the fourth quarter valued at approximately $35,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

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.