Arista Networks (NYSE:ANET) Shares Up 0.4% – What’s Next?

Arista Networks, Inc. (NYSE:ANET)’s share price was up 0.4% during mid-day trading on Thursday . The company traded as high as $116.27 and last traded at $115.76. Approximately 5,371,953 shares were traded during mid-day trading, a decline of 16% from the average daily volume of 6,396,429 shares. The stock had previously closed at $115.29.

Analysts Set New Price Targets

Several research analysts have weighed in on ANET shares. Wells Fargo & Company boosted their price target on Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Evercore ISI boosted their price target on Arista Networks from $100.00 to $106.25 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Citigroup boosted their price target on Arista Networks from $96.25 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Finally, UBS Group lifted their target price on Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Arista Networks has an average rating of “Moderate Buy” and a consensus target price of $102.42.

Arista Networks Stock Up 0.4 %

The company has a market cap of $145.83 billion, a PE ratio of 55.65, a PEG ratio of 3.21 and a beta of 1.08. The company has a 50-day moving average of $105.78 and a 200-day moving average of $95.55.

Arista Networks (NYSE:ANET) last announced its 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. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The company had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the previous year, the firm earned $0.41 earnings per share. Arista Networks’s quarterly revenue was up 20.0% on a year-over-year basis. As a group, equities analysts predict that Arista Networks, Inc. will post 1.96 EPS for the current year.

Insider Buying and Selling at Arista Networks

In related news, CEO Jayshree Ullal sold 3,328 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $99.35, for a total transaction of $330,628.48. Following the transaction, the chief executive officer now directly owns 70,724 shares in the company, valued at $7,026,252.59. This trade represents a 4.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $118.47, for a total value of $9,477,600.00. Following the completion of the sale, the senior vice president now owns 12,976 shares in the company, valued at approximately $1,537,266.72. This represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 345,316 shares of company stock worth $37,761,976 in the last quarter. 3.54% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ANET. Fulton Bank N.A. raised its stake in shares of Arista Networks by 310.1% in the fourth quarter. Fulton Bank N.A. now owns 21,569 shares of the technology company’s stock worth $2,384,000 after purchasing an additional 16,310 shares during the last quarter. Range Financial Group LLC raised its stake in shares of Arista Networks by 1,599.0% in the fourth quarter. Range Financial Group LLC now owns 43,562 shares of the technology company’s stock worth $4,815,000 after purchasing an additional 40,998 shares during the last quarter. Rise Advisors LLC raised its stake in shares of Arista Networks by 132.0% in the fourth quarter. Rise Advisors LLC now owns 775 shares of the technology company’s stock worth $86,000 after purchasing an additional 441 shares during the last quarter. Diversified Trust Co increased its position in Arista Networks by 440.5% during the fourth quarter. Diversified Trust Co now owns 27,880 shares of the technology company’s stock valued at $3,082,000 after acquiring an additional 22,722 shares during the last quarter. Finally, Horizons Wealth Management grew its holdings in Arista Networks by 300.0% during the fourth quarter. Horizons Wealth Management now owns 800 shares of the technology company’s stock valued at $88,000 after purchasing an additional 600 shares during the period. 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.