Arista Networks (NYSE:ANET) Stock Price Up 1.1% – What’s Next?

Shares of Arista Networks, Inc. (NYSE:ANET) rose 1.1% during mid-day trading on Wednesday . The stock traded as high as $110.45 and last traded at $107.70. Approximately 4,255,392 shares were traded during mid-day trading, a decline of 51% from the average daily volume of 8,672,491 shares. The stock had previously closed at $106.54.

Wall Street Analyst Weigh In

Several research firms have issued reports on ANET. The Goldman Sachs Group boosted their target price on Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. UBS Group boosted their price target on Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Evercore ISI boosted their price target on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Citigroup boosted their price target on Arista Networks from $96.25 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $105.83.

Arista Networks Trading Up 1.2 %

The business’s 50-day simple moving average is $111.07 and its two-hundred day simple moving average is $98.44. The company has a market capitalization of $135.86 billion, a PE ratio of 52.02, a PEG ratio of 3.49 and a beta of 1.08.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Thursday, November 7th. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.52 by $0.08. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter last year, the company posted $0.41 earnings per share. The company’s quarterly revenue was up 20.0% compared to the same quarter last year. On average, analysts forecast that Arista Networks, Inc. will post 1.97 EPS for the current year.

Insiders Place Their Bets

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $118.47, for a total value of $9,477,600.00. Following the sale, the senior vice president now owns 12,976 shares in the company, valued at approximately $1,537,266.72. This trade represents a 86.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John F. Mccool sold 2,336 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $96.83, for a total transaction of $226,200.72. Following the completion of the sale, the insider now owns 288 shares in the company, valued at $27,887.76. The trade was a 89.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 343,992 shares of company stock valued at $37,634,420 over the last quarter. Insiders own 3.54% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Zions Bancorporation N.A. boosted its holdings in Arista Networks by 6.9% during the third quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock worth $160,000 after buying an additional 27 shares in the last quarter. Intellectus Partners LLC boosted its stake in Arista Networks by 1.4% in the 3rd quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock worth $740,000 after purchasing an additional 27 shares during the period. First Affirmative Financial Network boosted its stake in Arista Networks by 4.3% in the 3rd quarter. First Affirmative Financial Network now owns 682 shares of the technology company’s stock worth $262,000 after purchasing an additional 28 shares during the period. Altman Advisors Inc. boosted its stake in Arista Networks by 0.5% in the 3rd quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock worth $2,250,000 after purchasing an additional 28 shares during the period. Finally, Everpar Advisors LLC boosted its stake in Arista Networks by 1.5% in the 3rd quarter. Everpar Advisors LLC now owns 1,907 shares of the technology company’s stock worth $732,000 after purchasing an additional 29 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.