Arista Networks (NYSE:ANET) Shares Up 4.2%

Arista Networks, Inc. (NYSE:ANET) rose 4.2% during trading on Friday . The company traded as high as $278.35 and last traded at $272.87. Approximately 1,183,811 shares were traded during trading, a decline of 51% from the average daily volume of 2,434,232 shares. The stock had previously closed at $261.86.

Analyst Ratings Changes

ANET has been the subject of a number of analyst reports. Jefferies Financial Group raised shares of Arista Networks from a “hold” rating to a “buy” rating and boosted their price objective for the company from $240.00 to $320.00 in a research report on Friday. JPMorgan Chase & Co. increased their price target on Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Piper Sandler lifted their price objective on Arista Networks from $254.00 to $268.00 and gave the company a “neutral” rating in a research report on Tuesday, February 13th. The Goldman Sachs Group increased their target price on Arista Networks from $313.00 to $356.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Finally, JMP Securities restated a “market outperform” rating and issued a $325.00 price target on shares of Arista Networks in a report on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $285.53.

Arista Networks Trading Up 4.8 %

The stock has a market capitalization of $85.79 billion, a PE ratio of 41.77, a PEG ratio of 2.24 and a beta of 1.13. The business’s 50-day moving average is $279.07 and its two-hundred day moving average is $249.25.

Arista Networks (NYSE:ANET) last issued its earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.38. The company 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 company’s revenue was up 20.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.25 earnings per share. On average, analysts predict that Arista Networks, Inc. will post 6.7 EPS for the current year.

Insider Buying and Selling at Arista Networks

In other news, Director Yvonne Wassenaar sold 224 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total transaction of $57,184.96. Following the transaction, the director now directly owns 2,827 shares of the company’s stock, valued at $721,704.83. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Yvonne Wassenaar sold 224 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $255.29, for a total transaction of $57,184.96. Following the completion of the sale, the director now directly owns 2,827 shares in the company, valued at $721,704.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John F. Mccool sold 420 shares of Arista Networks stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $266.08, for a total value of $111,753.60. The disclosure for this sale can be found here. Insiders sold 335,974 shares of company stock valued at $96,252,685 over the last 90 days. 18.99% of the stock is owned by corporate insiders.

Institutional Trading of Arista Networks

A number of hedge funds have recently made changes to their positions in ANET. Benjamin Edwards Inc. bought a new stake in shares of Arista Networks in the 1st quarter worth about $26,000. Larson Financial Group LLC acquired a new position in Arista Networks in the third quarter worth about $28,000. First Command Advisory Services Inc. bought a new stake in Arista Networks in the third quarter valued at about $29,000. Financial Synergies Wealth Advisors Inc. raised its stake in Arista Networks by 872.7% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock valued at $31,000 after buying an additional 96 shares in the last quarter. Finally, BluePath Capital Management LLC bought a new position in Arista Networks during the 3rd quarter worth approximately $33,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

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.