Arista Networks (NYSE:ANET) Shares Down 0.2%

Arista Networks, Inc. (NYSE:ANET)’s stock price traded down 0.2% during mid-day trading on Wednesday . The company traded as low as $357.45 and last traded at $360.22. 172,462 shares changed hands during trading, a decline of 93% from the average session volume of 2,313,200 shares. The stock had previously closed at $360.95.

Analyst Ratings Changes

A number of equities research analysts have commented on ANET shares. Wells Fargo & Company raised their target price on shares of Arista Networks from $340.00 to $390.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Jefferies Financial Group lifted their target price on shares of Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Evercore ISI reiterated an “outperform” rating and issued a $400.00 price target on shares of Arista Networks in a research note on Friday, September 13th. Barclays raised their price target on Arista Networks from $320.00 to $341.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, Citigroup upped their price objective on Arista Networks from $330.00 to $385.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $358.63.

Arista Networks Stock Up 0.4 %

The business has a 50 day moving average price of $340.74 and a 200 day moving average price of $315.02. The stock has a market cap of $113.54 billion, a P/E ratio of 50.33, a PEG ratio of 2.70 and a beta of 1.07.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, beating the consensus estimate of $1.72 by $0.38. The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.66 billion. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. Arista Networks’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.41 EPS. On average, research analysts expect that Arista Networks, Inc. will post 7.38 earnings per share for the current fiscal year.

Insider Transactions at Arista Networks

In related news, CEO Jayshree Ullal sold 832 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $318.12, for a total value of $264,675.84. Following the completion of the sale, the chief executive officer now owns 17,681 shares in the company, valued at $5,624,679.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Jayshree Ullal sold 832 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $318.12, for a total value of $264,675.84. Following the completion of the sale, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at $5,624,679.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Kenneth Duda sold 1,689 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $321.28, for a total transaction of $542,641.92. Following the transaction, the senior vice president now directly owns 182,600 shares in the company, valued at approximately $58,665,728. The disclosure for this sale can be found here. Over the last three months, insiders have sold 106,989 shares of company stock valued at $37,891,416. 3.54% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Arista Networks

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Arista Networks by 5.7% in the 4th quarter. Vanguard Group Inc. now owns 29,494,876 shares of the technology company’s stock valued at $6,946,338,000 after buying an additional 1,596,040 shares in the last quarter. Capital World Investors grew 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 worth $2,387,211,000 after purchasing an additional 55,312 shares during the last quarter. WCM Investment Management LLC grew its holdings in 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 purchasing an additional 25,196 shares during the last quarter. GQG Partners LLC purchased a new stake in shares of Arista Networks during the 1st quarter valued at $881,848,000. Finally, Legal & General Group Plc lifted its holdings in shares of Arista Networks by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 2,195,733 shares of the technology company’s stock valued at $769,560,000 after purchasing an additional 20,278 shares during the last quarter. Institutional investors 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.