Arista Networks (NYSE:ANET) Stock Price Up 0.2% – Still a Buy?

Arista Networks, Inc. (NYSE:ANET)’s stock price shot up 0.2% on Friday . The stock traded as high as $396.32 and last traded at $390.81. 210,482 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 2,259,024 shares. The stock had previously closed at $390.11.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ANET. UBS Group lifted their price objective on shares of Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Barclays boosted their price target on shares of Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Evercore ISI boosted their price target on shares of Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a research report on Tuesday. Morgan Stanley boosted their price target on shares of Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday, July 18th. Finally, Wells Fargo & Company boosted their price target on shares of Arista Networks from $340.00 to $390.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Arista Networks currently has an average rating of “Moderate Buy” and an average price target of $364.81.

Arista Networks Trading Up 0.4 %

The firm has a market capitalization of $122.73 billion, a PE ratio of 54.43, a PEG ratio of 3.04 and a beta of 1.07. The firm’s fifty day moving average price is $350.01 and its 200 day moving average price is $323.05.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.38. The company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.66 billion. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The business’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period last year, the business earned $1.41 EPS. As a group, research analysts expect that Arista Networks, Inc. will post 7.38 EPS for the current year.

Insiders Place Their Bets

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $382.52, for a total transaction of $765,040.00. Following the transaction, the director now directly owns 46,946 shares in the company, valued at $17,957,783.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Jayshree Ullal sold 832 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $318.12, for a total value of $264,675.84. Following the sale, the chief executive officer now owns 17,681 shares in the company, valued at approximately $5,624,679.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $382.52, for a total transaction of $765,040.00. Following the completion of the sale, the director now owns 46,946 shares in the company, valued at $17,957,783.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 57,361 shares of company stock valued at $20,523,830 over the last ninety days. Corporate insiders own 3.54% of the company’s stock.

Institutional Investors Weigh In On Arista Networks

Hedge funds have recently made changes to their positions in the stock. Campbell & CO Investment Adviser LLC increased its holdings in Arista Networks by 21.1% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 3,688 shares of the technology company’s stock valued at $869,000 after buying an additional 643 shares during the period. CIBC Private Wealth Group LLC boosted its stake in Arista Networks by 26.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 19,562 shares of the technology company’s stock valued at $4,607,000 after buying an additional 4,059 shares in the last quarter. Lake Street Advisors Group LLC bought a new stake in Arista Networks in the fourth quarter valued at $290,000. Crossmark Global Holdings Inc. raised its stake in Arista Networks by 9.5% during the fourth quarter. Crossmark Global Holdings Inc. now owns 14,737 shares of the technology company’s stock worth $3,471,000 after acquiring an additional 1,284 shares in the last quarter. Finally, Cetera Advisor Networks LLC lifted its holdings in shares of Arista Networks by 4.4% during the fourth quarter. Cetera Advisor Networks LLC now owns 22,375 shares of the technology company’s stock valued at $5,270,000 after acquiring an additional 947 shares during the period. Institutional investors 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.