Arista Networks (NYSE:ANET) Shares Up 0.5% – Should You Buy?

Arista Networks, Inc. (NYSE:ANET)’s stock price traded up 0.5% during trading on Tuesday . The company traded as high as $114.29 and last traded at $113.63. 530,939 shares changed hands during trading, a decline of 94% from the average session volume of 8,767,841 shares. The stock had previously closed at $113.09.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Rosenblatt Securities lifted their price target on shares of Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a report on Friday, November 8th. The Goldman Sachs Group upped their price objective on shares of Arista Networks from $97.50 to $107.50 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Wells Fargo & Company lifted their target price on shares of Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, UBS Group increased their price objective on shares of Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $100.70.

Arista Networks Trading Up 1.4 %

The business’s 50-day simple moving average is $102.36 and its two-hundred day simple moving average is $92.88. The company has a market capitalization of $144.43 billion, a PE ratio of 55.12, a PEG ratio of 3.21 and a beta of 1.10.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Thursday, November 7th. The technology company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.76 billion. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. Arista Networks’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.41 earnings per share. On average, analysts forecast that Arista Networks, Inc. will post 1.96 EPS for the current year.

Insider Buying and Selling at Arista Networks

In related news, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $412.65, for a total transaction of $825,300.00. Following the sale, the director now directly owns 42,946 shares of the company’s stock, valued at approximately $17,721,666.90. This represents a 4.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Marc Taxay sold 2,496 shares of Arista Networks stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $97.09, for a total transaction of $242,342.88. The disclosure for this sale can be found here. Insiders have sold 353,476 shares of company stock worth $36,841,998 in the last ninety days. 3.54% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Ameriprise Financial Inc. raised its holdings in shares of Arista Networks by 97.2% during the second quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company’s stock valued at $628,966,000 after buying an additional 884,703 shares during the last quarter. International Assets Investment Management LLC raised its stake in Arista Networks by 39,841.1% during the 3rd quarter. International Assets Investment Management LLC now owns 875,110 shares of the technology company’s stock valued at $3,358,850,000 after acquiring an additional 872,919 shares in the last quarter. 1832 Asset Management L.P. grew its stake in shares of Arista Networks by 4,160.9% in the second quarter. 1832 Asset Management L.P. now owns 515,700 shares of the technology company’s stock worth $180,743,000 after purchasing an additional 503,597 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Arista Networks by 22.7% during the third quarter. Wellington Management Group LLP now owns 2,660,695 shares of the technology company’s stock valued at $1,021,228,000 after purchasing an additional 492,615 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Arista Networks by 3.8% during the third quarter. State Street Corp now owns 11,237,635 shares of the technology company’s stock valued at $4,313,229,000 after purchasing an additional 411,109 shares in the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

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.