Arista Networks (NYSE:ANET) Shares Gap Up – Here’s Why

Arista Networks, Inc. (NYSE:ANET) shares gapped up before the market opened on Tuesday . The stock had previously closed at $100.30, but opened at $105.02. Arista Networks shares last traded at $102.73, with a volume of 3,615,985 shares.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ANET shares. StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. The Goldman Sachs Group raised their price objective on Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a report on Friday, January 17th. UBS Group raised their price objective on Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a report on Friday, November 8th. Rosenblatt Securities raised their price objective on Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a report on Friday, November 8th. Finally, Barclays decreased their price target on Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $105.83.

Arista Networks Trading Up 3.3 %

The stock has a market cap of $130.56 billion, a P/E ratio of 49.84, a PEG ratio of 3.49 and a beta of 1.08. The firm has a 50-day simple moving average of $110.83 and a two-hundred day simple moving average of $98.33.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Thursday, November 7th. The technology company reported $0.60 earnings per share (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 net margin of 40.29% and a return on equity of 30.52%. The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.41 EPS. Sell-side analysts predict that Arista Networks, Inc. will post 1.97 earnings per share for the current year.

Insider Transactions at Arista Networks

In other news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $98.30, for a total value of $786,360.00. Following the completion of the transaction, the director now owns 179,784 shares of the company’s stock, valued at approximately $17,671,868.28. This represents a 4.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $105.09, for a total transaction of $8,407,200.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at $1,363,647.84. This trade represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 343,992 shares of company stock valued at $37,634,420. Company insiders own 3.54% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Caitlin John LLC raised its position in Arista Networks by 174.7% in the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after purchasing an additional 152 shares during the last quarter. Cranbrook Wealth Management LLC raised its holdings in Arista Networks by 300.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after buying an additional 198 shares during the last quarter. Trust Co. of Vermont raised its holdings in Arista Networks by 300.0% in the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after buying an additional 198 shares during the last quarter. New Millennium Group LLC raised its holdings in Arista Networks by 300.0% in the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after buying an additional 195 shares during the last quarter. Finally, Westside Investment Management Inc. raised its stake in shares of Arista Networks by 1,012.0% during the fourth quarter. Westside Investment Management Inc. now owns 278 shares of the technology company’s stock valued at $31,000 after acquiring an additional 253 shares during 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.