Arista Networks (NYSE:ANET) Price Target Raised to $315.00 at JPMorgan Chase & Co.

Arista Networks (NYSE:ANET - Free Report) had its target price increased by JPMorgan Chase & Co. from $297.00 to $315.00 in a report published on Thursday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the technology company's stock.

Other analysts also recently issued research reports about the stock. KeyCorp increased their target price on shares of Arista Networks from $232.00 to $287.00 and gave the stock an overweight rating in a research report on Thursday, January 18th. Melius Research upgraded shares of Arista Networks from a hold rating to a buy rating and set a $300.00 target price on the stock in a report on Monday, January 8th. Morgan Stanley increased their price target on Arista Networks from $230.00 to $272.00 and gave the company an overweight rating in a report on Tuesday, January 2nd. Needham & Company LLC reaffirmed a buy rating and issued a $320.00 target price on shares of Arista Networks in a research report on Tuesday, February 13th. Finally, Barclays increased their target price on Arista Networks from $272.00 to $311.00 and gave the company an overweight rating in a research note on Tuesday, February 13th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Arista Networks has an average rating of Moderate Buy and a consensus price target of $282.65.

Arista Networks Trading Up 2.9 %

Shares of NYSE ANET traded up $8.36 on Thursday, reaching $296.58. 1,500,283 shares of the company traded hands, compared to its average volume of 2,389,699. The stock has a market capitalization of $92.72 billion, a PE ratio of 43.83, a P/E/G ratio of 2.57 and a beta of 1.09. Arista Networks has a fifty-two week low of $131.68 and a fifty-two week high of $307.74. The company has a 50 day moving average of $281.14 and a 200 day moving average of $240.95.

Arista Networks (NYSE:ANET - Get Free Report) last issued its earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, beating analysts' consensus estimates of $1.70 by $0.38. The firm had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.53 billion. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The firm's revenue for the quarter was up 20.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.25 earnings per share. As a group, research analysts expect that Arista Networks will post 6.63 earnings per share for the current year.

Insider Buying and Selling at Arista Networks

In related news, Director Yvonne Wassenaar sold 186 shares of the firm's stock in a transaction on Friday, January 19th. The stock was sold at an average price of $261.41, for a total transaction of $48,622.26. Following the transaction, the director now directly owns 2,678 shares in the company, valued at $700,055.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Arista Networks news, CEO Jayshree Ullal sold 18,621 shares of Arista Networks stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $257.60, for a total value of $4,796,769.60. Following the completion of the transaction, the chief executive officer now directly owns 82,766 shares in the company, valued at $21,320,521.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Yvonne Wassenaar sold 186 shares of the stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $261.41, for a total value of $48,622.26. Following the sale, the director now owns 2,678 shares in the company, valued at $700,055.98. The disclosure for this sale can be found here. Insiders have sold 336,994 shares of company stock worth $95,800,362 over the last quarter. 18.99% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ANET. Ballentine Partners LLC boosted its holdings in shares of Arista Networks by 21.6% during the first quarter. Ballentine Partners LLC now owns 2,280 shares of the technology company's stock valued at $661,000 after acquiring an additional 405 shares during the period. &PARTNERS boosted its stake in Arista Networks by 75.2% during the 1st quarter. &PARTNERS now owns 1,995 shares of the technology company's stock valued at $579,000 after purchasing an additional 856 shares during the period. Gulf International Bank UK Ltd grew its position in Arista Networks by 0.7% in the 1st quarter. Gulf International Bank UK Ltd now owns 21,657 shares of the technology company's stock worth $6,280,000 after purchasing an additional 141 shares during the last quarter. RFG Advisory LLC grew its position in Arista Networks by 27.3% in the 1st quarter. RFG Advisory LLC now owns 6,918 shares of the technology company's stock worth $2,006,000 after purchasing an additional 1,483 shares during the last quarter. Finally, Gunderson Capital Management Inc. increased its stake in shares of Arista Networks by 199.7% in the first quarter. Gunderson Capital Management Inc. now owns 29,059 shares of the technology company's stock valued at $8,427,000 after purchasing an additional 19,363 shares during the period. Institutional investors and hedge funds own 82.47% of the company's stock.

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.