Traders Buy Large Volume of Call Options on Arista Networks (NYSE:ANET)

Arista Networks, Inc. (NYSE:ANETGet Free Report) was the recipient of some unusual options trading on Friday. Investors purchased 16,147 call options on the stock. This represents an increase of approximately 52% compared to the typical daily volume of 10,643 call options.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, insider John F. Mccool sold 288 shares of Arista Networks stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $108.70, for a total value of $31,305.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kelly Bodnar Battles sold 1,488 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $89.19, for a total value of $132,707.28. Following the transaction, the director now directly owns 10,260 shares of the company’s stock, valued at $915,038.10. This trade represents a 12.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 354,964 shares of company stock worth $36,974,705 over the last quarter. 3.54% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Arista Networks

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Beacon Capital Management LLC boosted its holdings in shares of Arista Networks by 500.0% in the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock worth $27,000 after buying an additional 65 shares during the period. LGT Financial Advisors LLC acquired a new position in Arista Networks in the 2nd quarter worth approximately $27,000. Byrne Asset Management LLC purchased a new position in Arista Networks during the 2nd quarter worth approximately $33,000. Anchor Investment Management LLC acquired a new stake in Arista Networks during the 2nd quarter valued at $35,000. Finally, MidAtlantic Capital Management Inc. purchased a new stake in shares of Arista Networks in the third quarter valued at $44,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Price Performance

NYSE ANET opened at $112.39 on Friday. Arista Networks has a 12 month low of $56.65 and a 12 month high of $112.77. The company has a market capitalization of $141.58 billion, a P/E ratio of 53.23, a PEG ratio of 3.21 and a beta of 1.10. The company’s 50 day simple moving average is $100.85 and its 200 day simple moving average is $90.84.

Arista Networks (NYSE:ANETGet Free Report) last posted its quarterly earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate 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 revenue was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 earnings per share. On average, analysts anticipate that Arista Networks will post 1.96 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on ANET shares. Evercore ISI upped their price target on shares of Arista Networks from $100.00 to $106.25 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. UBS Group upped their target price on shares of Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Barclays cut their price target on Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Citigroup lifted their target price on Arista Networks from $96.25 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $98.88.

Read Our Latest Research Report on ANET

Arista Networks Company Profile

(Get Free Report)

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.

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