Arista Networks, Inc. (NYSE:ANET) Given Average Rating of “Moderate Buy” by Brokerages

Arista Networks, Inc. (NYSE:ANET) has been given a consensus rating of “Moderate Buy” by the twenty-two analysts that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $306.78.

A number of analysts have recently commented on the company. Barclays upped their target price on Arista Networks from $311.00 to $320.00 and gave the stock an “overweight” rating in a research note on Thursday, May 9th. Erste Group Bank restated a “buy” rating on shares of Arista Networks in a research report on Friday, June 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $320.00 target price on shares of Arista Networks in a report on Wednesday, May 8th. Rosenblatt Securities reissued a “sell” rating and set a $210.00 price target on shares of Arista Networks in a report on Friday, April 12th. Finally, Jefferies Financial Group raised shares of Arista Networks from a “hold” rating to a “buy” rating and lifted their price objective for the company from $240.00 to $320.00 in a report on Friday, May 3rd.

Arista Networks Trading Up 0.1 %

Shares of Arista Networks stock opened at $334.70 on Thursday. The firm’s 50 day simple moving average is $298.01 and its two-hundred day simple moving average is $277.25. The firm has a market capitalization of $104.88 billion, a price-to-earnings ratio of 46.62, a PEG ratio of 2.95 and a beta of 1.08. Arista Networks has a 12-month low of $149.10 and a 12-month high of $345.89.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, May 7th. The technology company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.24. Arista Networks had a return on equity of 31.12% and a net margin of 37.64%. The company had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.55 billion. On average, sell-side analysts predict that Arista Networks will post 7.05 EPS for the current fiscal year.

Arista Networks declared that its board has approved a share repurchase program on Tuesday, May 7th that permits the company to buyback $1.20 billion in outstanding shares. This buyback authorization permits the technology company to purchase up to 1.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at Arista Networks

In related news, Director Daniel Scheinman sold 1,000 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $328.17, for a total value of $328,170.00. Following the sale, the director now owns 37,732 shares in the company, valued at approximately $12,382,510.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Jayshree Ullal sold 24,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $292.28, for a total value of $7,014,720.00. Following the sale, the chief executive officer now owns 1,642,800 shares of the company’s stock, valued at $480,157,584. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Daniel Scheinman sold 1,000 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $328.17, for a total transaction of $328,170.00. Following the completion of the sale, the director now owns 37,732 shares in the company, valued at $12,382,510.44. The disclosure for this sale can be found here. Insiders sold a total of 212,950 shares of company stock worth $64,987,920 over the last ninety days. Company insiders own 3.54% of the company’s stock.

Institutional Trading of Arista Networks

A number of institutional investors have recently bought and sold shares of ANET. Old Port Advisors increased its holdings in shares of Arista Networks by 3.5% in the 1st quarter. Old Port Advisors now owns 955 shares of the technology company’s stock valued at $277,000 after acquiring an additional 32 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Arista Networks by 63.8% in the first quarter. EverSource Wealth Advisors LLC now owns 1,137 shares of the technology company’s stock valued at $330,000 after purchasing an additional 443 shares during the last quarter. Hamilton Wealth LLC acquired a new stake in Arista Networks during the first quarter worth approximately $263,000. Railway Pension Investments Ltd lifted its position in shares of Arista Networks by 3.7% during the 1st quarter. Railway Pension Investments Ltd now owns 42,100 shares of the technology company’s stock worth $12,208,000 after buying an additional 1,500 shares during the last quarter. Finally, Objective Capital Management LLC acquired a new position in shares of Arista Networks in the 1st quarter valued at $263,000. 82.47% of the stock is owned by hedge funds and other institutional investors.

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.