Arista Networks (NYSE:ANET) Stock Price Up 2.4% - Still a Buy?

Shares of Arista Networks, Inc. (NYSE:ANET - Get Free Report) rose 2.4% during trading on Friday . The stock traded as high as $77.37 and last traded at $77.08. Approximately 2,777,389 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 9,086,319 shares. The stock had previously closed at $75.29.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Rosenblatt Securities raised shares of Arista Networks from a "sell" rating to a "neutral" rating and raised their target price for the company from $55.00 to $85.00 in a research note on Tuesday. Barclays reaffirmed an "overweight" rating on shares of Arista Networks in a report on Monday, March 3rd. Citigroup dropped their price target on Arista Networks from $121.00 to $92.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Piper Sandler decreased their price objective on Arista Networks from $108.00 to $76.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating on shares of Arista Networks in a report on Monday, March 3rd. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, Arista Networks has a consensus rating of "Moderate Buy" and an average price target of $106.43.

Arista Networks Stock Performance

The firm has a fifty day moving average price of $80.06 and a 200 day moving average price of $98.13. The stock has a market cap of $101.38 billion, a PE ratio of 36.37, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. On average, equities research analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Insider Activity

In other Arista Networks news, Director Kelly Bodnar Battles sold 1,492 shares of the business's stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $68.49, for a total value of $102,187.08. Following the completion of the transaction, the director now owns 7,480 shares in the company, valued at $512,305.20. The trade was a 16.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the business's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $112.02, for a total value of $896,160.00. Following the transaction, the director now directly owns 155,784 shares of the company's stock, valued at approximately $17,450,923.68. This represents a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 412,355 shares of company stock worth $39,446,799 over the last three months. Insiders own 3.54% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Caitlin John LLC lifted its position in shares of Arista Networks by 174.7% during the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company's stock worth $26,000 after purchasing an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC lifted its holdings in Arista Networks by 335.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock worth $27,000 after buying an additional 191 shares during the last quarter. HighMark Wealth Management LLC increased its holdings in shares of Arista Networks by 179.7% in the 1st quarter. HighMark Wealth Management LLC now owns 358 shares of the technology company's stock valued at $28,000 after acquiring an additional 230 shares during the last quarter. Cranbrook Wealth Management LLC raised its position in shares of Arista Networks by 300.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company's stock worth $29,000 after acquiring an additional 198 shares in the last quarter. Finally, Trust Co. of Vermont boosted its holdings in Arista Networks by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company's stock valued at $29,000 after purchasing an additional 198 shares in the last quarter. Hedge funds and other 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.