Arista Networks (NYSE:ANET) Trading 2.6% Higher – What’s Next?

Arista Networks, Inc. (NYSE:ANET) shot up 2.6% during mid-day trading on Monday . The company traded as high as $118.79 and last traded at $118.18. 1,976,289 shares were traded during trading, a decline of 48% from the average session volume of 3,799,963 shares. The stock had previously closed at $115.20.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ANET shares. Morgan Stanley increased their price target on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Barclays decreased their price target on Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. 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. Rosenblatt Securities upped their price target on shares of Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a research report on Friday, November 8th. Finally, The Goldman Sachs Group boosted 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. One investment 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. According to MarketBeat.com, Arista Networks has a consensus rating of “Moderate Buy” and a consensus price target of $100.70.

Arista Networks Stock Up 2.7 %

The stock has a 50 day simple moving average of $104.73 and a 200 day simple moving average of $94.95. The company has a market capitalization of $149.11 billion, a price-to-earnings ratio of 56.90, a P/E/G ratio of 3.21 and a beta of 1.08.

Arista Networks (NYSE:ANET) last posted its earnings results 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 company had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The firm’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period last year, the business posted $0.41 earnings per share. As a group, analysts forecast that Arista Networks, Inc. will post 1.96 EPS for the current year.

Insider Buying and Selling

In related news, insider John F. Mccool sold 288 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $108.70, for a total transaction of $31,305.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jayshree Ullal sold 3,328 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $99.35, for a total transaction of $330,628.48. Following the completion of the sale, the chief executive officer now owns 70,724 shares in the company, valued at approximately $7,026,252.59. This trade represents a 4.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 257,316 shares of company stock valued at $27,392,296 in the last three months. 3.54% of the stock is currently owned by corporate insiders.

Institutional Trading of Arista Networks

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital Market Strategies LLC boosted its stake in shares of Arista Networks by 307.5% during the 4th quarter. Capital Market Strategies LLC now owns 5,294 shares of the technology company’s stock worth $585,000 after acquiring an additional 3,995 shares in the last quarter. CWA Asset Management Group LLC boosted its position in shares of Arista Networks by 324.8% in the 4th quarter. CWA Asset Management Group LLC now owns 3,292 shares of the technology company’s stock valued at $364,000 after purchasing an additional 2,517 shares during the period. Everence Capital Management Inc. raised its holdings in Arista Networks by 300.0% during the 4th quarter. Everence Capital Management Inc. now owns 29,760 shares of the technology company’s stock worth $3,289,000 after buying an additional 22,320 shares during the period. GAMMA Investing LLC lifted its stake in Arista Networks by 376.6% during the fourth quarter. GAMMA Investing LLC now owns 22,860 shares of the technology company’s stock valued at $2,527,000 after buying an additional 18,064 shares in the last quarter. Finally, Versant Capital Management Inc boosted its holdings in shares of Arista Networks by 514.8% in the fourth quarter. Versant Capital Management Inc now owns 1,408 shares of the technology company’s stock worth $156,000 after buying an additional 1,179 shares during the period. 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.