Arista Networks, Inc. (NYSE:ANET) Receives Average Recommendation of "Moderate Buy" from Brokerages

Shares of Arista Networks, Inc. (NYSE:ANET - Get Free Report) have received an average recommendation of "Moderate Buy" from the fifteen research firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and twelve have issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $104.29.

A number of equities analysts recently commented on ANET shares. Erste Group Bank cut Arista Networks from a "strong-buy" rating to a "hold" rating in a report on Monday, March 17th. Needham & Company LLC reaffirmed a "buy" rating and issued a $145.00 price objective on shares of Arista Networks in a research note on Wednesday, February 19th. Evercore ISI cut their price objective on Arista Networks from $130.00 to $100.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. JPMorgan Chase & Co. decreased their target price on shares of Arista Networks from $140.00 to $110.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of Arista Networks in a research note on Monday, March 3rd.

Insider Buying and Selling at Arista Networks

In other news, Director Kelly Bodnar Battles sold 1,492 shares of the business's stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $68.49, for a total value of $102,187.08. Following the sale, the director now directly owns 7,480 shares in the company, valued at $512,305.20. The trade was a 16.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jayshree Ullal sold 138,351 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the completion of the transaction, the chief executive officer now directly owns 92,641 shares of the company's stock, valued at approximately $8,697,137.08. The trade was a 59.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 412,355 shares of company stock worth $39,446,799 in the last quarter. 3.54% of the stock is owned by corporate insiders.

Institutional Trading of Arista Networks

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Morse Asset Management Inc purchased a new stake in shares of Arista Networks in the third quarter valued at $123,000. Virtu Financial LLC bought a new stake in Arista Networks in the third quarter worth about $1,752,000. World Investment Advisors LLC bought a new stake in Arista Networks in the third quarter worth about $401,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Arista Networks during the third quarter valued at approximately $2,222,000. Finally, Tidal Investments LLC raised its holdings in shares of Arista Networks by 5.6% in the third quarter. Tidal Investments LLC now owns 37,383 shares of the technology company's stock worth $14,348,000 after buying an additional 1,998 shares during the period. Hedge funds and other institutional investors own 82.47% of the company's stock.

Arista Networks Stock Up 3.5 %

Shares of Arista Networks stock traded up $2.67 during trading hours on Wednesday, reaching $77.96. 12,456,039 shares of the stock traded hands, compared to its average volume of 9,098,187. Arista Networks has a one year low of $59.43 and a one year high of $133.58. The firm has a market capitalization of $97.89 billion, a price-to-earnings ratio of 35.12, a P/E/G ratio of 3.10 and a beta of 1.30. The company has a 50 day moving average price of $80.57 and a 200 day moving average price of $98.34.

Arista Networks (NYSE:ANET - Get Free Report) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. Sell-side analysts anticipate that Arista Networks will post 2.2 earnings per share for the current year.

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.