Arista Networks (NYSE:ANET) Shares Up 0.2%

Arista Networks, Inc. (NYSE:ANET)’s stock price was up 0.2% during mid-day trading on Monday . The stock traded as high as $276.87 and last traded at $271.72. Approximately 851,849 shares were traded during trading, a decline of 65% from the average daily volume of 2,413,680 shares. The stock had previously closed at $271.22.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on ANET shares. Melius Research raised Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a research report on Monday, January 8th. KeyCorp increased their price objective on Arista Networks from $232.00 to $287.00 and gave the company an “overweight” rating in a report on Thursday, January 18th. JMP Securities reissued a “market outperform” rating and issued a $325.00 price objective on shares of Arista Networks in a report on Tuesday, February 13th. Evercore ISI reissued an “outperform” rating and issued a $300.00 price objective on shares of Arista Networks in a report on Wednesday, March 27th. Finally, Wells Fargo & Company increased their price objective on Arista Networks from $225.00 to $310.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $275.59.

Arista Networks Stock Down 0.1 %

The stock has a market cap of $82.16 billion, a PE ratio of 40.00, a P/E/G ratio of 2.26 and a beta of 1.09. The business has a 50 day moving average price of $281.54 and a 200 day moving average price of $243.95.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.38. The company had revenue of $1.54 billion for 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%. Arista Networks’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.25 earnings per share. On average, research analysts predict that Arista Networks, Inc. will post 6.67 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Jayshree Ullal sold 22,000 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $303.00, for a total value of $6,666,000.00. Following the completion of the sale, the chief executive officer now owns 1,665,300 shares of the company’s stock, valued at $504,585,900. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Yvonne Wassenaar sold 186 shares of the stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $261.41, for a total value of $48,622.26. Following the completion of the sale, the director now owns 2,678 shares of the company’s stock, valued at $700,055.98. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jayshree Ullal sold 22,000 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $303.00, for a total value of $6,666,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,665,300 shares of the company’s stock, valued at approximately $504,585,900. The disclosure for this sale can be found here. Insiders have sold a total of 361,036 shares of company stock worth $102,813,921 over the last quarter. 18.99% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Arista Networks

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Arista Networks by 5.7% during the fourth quarter. Vanguard Group Inc. now owns 29,494,876 shares of the technology company’s stock worth $6,946,338,000 after acquiring an additional 1,596,040 shares during the last quarter. FMR LLC boosted its position in shares of Arista Networks by 32.2% during the third quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock worth $1,897,906,000 after buying an additional 2,515,864 shares during the period. Capital World Investors boosted its position in shares of Arista Networks by 0.5% during the fourth quarter. Capital World Investors now owns 10,136,348 shares of the technology company’s stock worth $2,387,211,000 after buying an additional 55,312 shares during the period. State Street Corp boosted its position in shares of Arista Networks by 3.2% during the first quarter. State Street Corp now owns 9,991,923 shares of the technology company’s stock worth $1,677,231,000 after buying an additional 313,036 shares during the period. Finally, Morgan Stanley boosted its position in shares of Arista Networks by 162.2% during the fourth quarter. Morgan Stanley now owns 5,549,335 shares of the technology company’s stock worth $673,412,000 after buying an additional 3,432,952 shares during the period. Institutional investors and hedge funds 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.