Arista Networks, Inc. (NYSE:ANET – Get Free Report) fell 0.4% on Thursday . The company traded as low as $113.66 and last traded at $114.24. 627,573 shares changed hands during trading, a decline of 93% from the average session volume of 8,741,158 shares. The stock had previously closed at $114.65.
Wall Street Analyst Weigh In
ANET has been the topic of several analyst reports. Evercore ISI upped their price objective on Arista Networks from $100.00 to $106.25 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. UBS Group lifted their price objective on Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a report on Friday, November 8th. Barclays reduced their target price on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. Piper Sandler reissued a “neutral” rating and set a $105.25 price target (up from $86.25) on shares of Arista Networks in a report on Friday, November 8th. Finally, The Goldman Sachs Group lifted their target price on shares of Arista Networks from $97.50 to $107.50 and gave the company a “buy” rating in a research note on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $100.70.
Get Our Latest Analysis on Arista Networks
Arista Networks Stock Performance
Arista Networks (NYSE:ANET – Get Free Report) last released its earnings results on Thursday, November 7th. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the previous year, the business earned $0.41 EPS. The business’s quarterly revenue was up 20.0% compared to the same quarter last year. On average, analysts forecast that Arista Networks, Inc. will post 1.96 earnings per share for the current year.
Insider Buying and Selling at Arista Networks
In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $412.65, for a total value of $825,300.00. Following the completion of the sale, the director now owns 42,946 shares of the company’s stock, valued at approximately $17,721,666.90. This represents a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jayshree Ullal sold 3,344 shares of Arista Networks stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $96.67, for a total transaction of $323,264.48. Following the transaction, the chief executive officer now directly owns 70,724 shares in the company, valued at approximately $6,836,889.08. This represents a 4.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 353,476 shares of company stock valued at $36,841,998. 3.54% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Arista Networks
Hedge funds have recently modified their holdings of the business. LGT Financial Advisors LLC acquired a new stake in Arista Networks during the 2nd quarter worth approximately $27,000. Anchor Investment Management LLC bought a new stake in Arista Networks in the 2nd quarter valued at $35,000. MidAtlantic Capital Management Inc. acquired a new position in Arista Networks in the 3rd quarter worth $44,000. HM Payson & Co. boosted its stake in Arista Networks by 28.2% in the 3rd quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock worth $51,000 after purchasing an additional 29 shares during the period. Finally, True Wealth Design LLC increased its holdings in Arista Networks by 2,133.3% during the 3rd quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock worth $51,000 after purchasing an additional 128 shares in the last quarter. 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.
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