Arista Networks (NYSE:ANET) Trading Up 0.9%

Arista Networks, Inc. (NYSE:ANET) was up 0.9% during trading on Friday . The company traded as high as $270.25 and last traded at $267.07. Approximately 875,107 shares traded hands during trading, a decline of 64% from the average daily volume of 2,462,189 shares. The stock had previously closed at $264.76.

Analyst Ratings Changes

ANET has been the topic of several research reports. Piper Sandler boosted their price target on shares of Arista Networks from $254.00 to $268.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 13th. Melius upgraded shares of Arista Networks from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. Oppenheimer reiterated a “market perform” rating on shares of Arista Networks in a research report on Tuesday, February 13th. JMP Securities restated a “market outperform” rating and set a $325.00 price objective on shares of Arista Networks in a research report on Tuesday, February 13th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $300.00 target price on shares of Arista Networks in a report on Wednesday, March 27th. One analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $275.59.

Arista Networks Stock Performance

The company has a market capitalization of $83.01 billion, a PE ratio of 40.29, a P/E/G ratio of 2.26 and a beta of 1.09. The firm has a fifty day simple moving average of $279.09 and a 200 day simple moving average of $247.22.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.38. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The firm’s quarterly revenue was up 20.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.25 earnings per share. Research analysts expect that Arista Networks, Inc. will post 6.7 EPS for the current fiscal year.

Insider Activity

In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $284.31, for a total transaction of $5,686,200.00. Following the completion of the sale, the senior vice president now owns 3,244 shares in the company, valued at $922,301.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Yvonne Wassenaar sold 224 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total value of $57,184.96. Following the completion of the transaction, the director now directly owns 2,827 shares of the company’s stock, valued at approximately $721,704.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $284.31, for a total value of $5,686,200.00. Following the completion of the transaction, the senior vice president now owns 3,244 shares of the company’s stock, valued at approximately $922,301.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 333,494 shares of company stock worth $95,632,321. Corporate insiders own 18.99% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. NBC Securities Inc. raised its position in shares of Arista Networks by 21.5% in the first quarter. NBC Securities Inc. now owns 215 shares of the technology company’s stock worth $62,000 after acquiring an additional 38 shares during the period. Sandy Spring Bank raised its position in shares of Arista Networks by 33.6% during the 4th quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock worth $37,000 after purchasing an additional 39 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Arista Networks by 6.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 694 shares of the technology company’s stock valued at $163,000 after buying an additional 39 shares in the last quarter. Fulton Breakefield Broenniman LLC boosted its holdings in Arista Networks by 1.8% in the 4th quarter. Fulton Breakefield Broenniman LLC now owns 2,255 shares of the technology company’s stock worth $531,000 after buying an additional 40 shares during the last quarter. Finally, West Family Investments Inc. increased its stake in Arista Networks by 3.3% during the 4th quarter. West Family Investments Inc. now owns 1,267 shares of the technology company’s stock worth $298,000 after buying an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

About Arista Networks

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.