Arista Networks (NYSE:ANET) Trading Up 0.1%

Shares of Arista Networks, Inc. (NYSE:ANET) were up 0.1% during trading on Friday . The company traded as high as $383.44 and last traded at $379.73. Approximately 393,973 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 2,305,436 shares. The stock had previously closed at $379.32.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ANET shares. Wells Fargo & Company boosted their target price on shares of Arista Networks from $340.00 to $390.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Rosenblatt Securities increased their target price on shares of Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a report on Wednesday, July 31st. KeyCorp lifted their price target on shares of Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. UBS Group boosted their price objective on Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Finally, Morgan Stanley boosted their price target on Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a report on Thursday, July 18th. 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 company’s stock. Based on data from MarketBeat, Arista Networks has an average rating of “Moderate Buy” and an average target price of $358.63.

Arista Networks Stock Performance

The firm has a market cap of $119.63 billion, a P/E ratio of 52.89, a price-to-earnings-growth ratio of 2.70 and a beta of 1.07. The stock’s 50 day simple moving average is $341.09 and its 200 day simple moving average is $315.79.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.38. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The firm’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.41 EPS. As a group, analysts forecast that Arista Networks, Inc. will post 7.38 EPS for the current fiscal year.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 25,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $357.00, for a total value of $8,925,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,595,800 shares of the company’s stock, valued at approximately $569,700,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Jayshree Ullal sold 25,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $357.00, for a total transaction of $8,925,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,595,800 shares of the company’s stock, valued at approximately $569,700,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $352.93, for a total transaction of $705,860.00. Following the completion of the sale, the director now directly owns 52,946 shares in the company, valued at approximately $18,686,231.78. The disclosure for this sale can be found here. In the last three months, insiders have sold 107,361 shares of company stock worth $38,024,123. Corporate insiders own 3.54% of the company’s stock.

Institutional Trading of Arista Networks

A number of hedge funds and other institutional investors have recently made changes to their positions in ANET. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Arista Networks by 5,154.9% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 44,614 shares of the technology company’s stock valued at $15,636,000 after acquiring an additional 43,765 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in Arista Networks in the 2nd quarter worth approximately $9,858,000. NCP Inc. purchased a new stake in Arista Networks in the second quarter worth approximately $105,000. Kestra Investment Management LLC bought a new position in Arista Networks during the second quarter valued at approximately $707,000. Finally, Clearbridge Investments LLC raised its stake in shares of Arista Networks by 2.0% during the second quarter. Clearbridge Investments LLC now owns 344,222 shares of the technology company’s stock worth $120,643,000 after acquiring an additional 6,638 shares in 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.