Arista Networks (NYSE:ANET) Trading 0.2% Higher

Arista Networks, Inc. (NYSE:ANET) was up 0.2% during mid-day trading on Monday . The stock traded as high as $271.42 and last traded at $265.23. Approximately 498,171 shares changed 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

A number of research firms have recently commented on ANET. JMP Securities reaffirmed a “market outperform” rating and set a $325.00 target price on shares of Arista Networks in a research note on Tuesday, February 13th. Oppenheimer reiterated a “market perform” rating on shares of Arista Networks in a research note on Tuesday, February 13th. Melius Research upgraded shares of Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a report on Monday, January 8th. KeyCorp boosted their price objective on shares of Arista Networks from $232.00 to $287.00 and gave the company an “overweight” rating in a research report on Thursday, January 18th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $320.00 target price on shares of Arista Networks in a research report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $275.59.

Arista Networks Trading Down 1.1 %

The stock has a 50-day moving average price of $279.09 and a two-hundred day moving average price of $247.61. The stock has a market cap of $82.11 billion, a price-to-earnings ratio of 40.37, a PEG ratio of 2.26 and a beta of 1.09.

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

Insiders Place Their Bets

In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $290.05, for a total transaction of $5,801,000.00. Following the completion of the sale, the senior vice president now owns 3,244 shares of the company’s stock, valued at approximately $940,922.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Arista Networks news, Director Yvonne Wassenaar sold 224 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $255.29, for a total transaction of $57,184.96. Following the sale, the director now directly owns 2,827 shares of the company’s stock, valued at approximately $721,704.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $290.05, for a total value of $5,801,000.00. Following the transaction, the senior vice president now owns 3,244 shares of the company’s stock, valued at approximately $940,922.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 332,514 shares of company stock valued at $95,369,397. Insiders own 18.99% of the company’s stock.

Institutional Trading of Arista Networks

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Arista Networks by 5.7% during the 4th quarter. Vanguard Group Inc. now owns 29,494,876 shares of the technology company’s stock worth $6,946,338,000 after purchasing an additional 1,596,040 shares during the period. FMR LLC grew its position in Arista Networks by 32.2% during the third quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock valued at $1,897,906,000 after buying an additional 2,515,864 shares during the period. Capital World Investors increased its holdings in Arista Networks by 0.5% in the fourth quarter. Capital World Investors now owns 10,136,348 shares of the technology company’s stock valued at $2,387,211,000 after buying an additional 55,312 shares in the last quarter. WCM Investment Management LLC raised its position in shares of Arista Networks by 0.8% in the first quarter. WCM Investment Management LLC now owns 3,049,416 shares of the technology company’s stock worth $884,270,000 after acquiring an additional 25,196 shares during the period. Finally, Norges Bank purchased a new stake in shares of Arista Networks during the 4th quarter worth about $586,051,000. 82.47% of the stock is owned by institutional investors and hedge funds.

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.