Arista Networks (NYSE:ANET) Stock Price Up 0.2%

Arista Networks, Inc. (NYSE:ANET - Get Free Report) traded up 0.2% during mid-day trading on Monday . The company traded as high as $276.87 and last traded at $271.72. 851,849 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 2,413,680 shares. The stock had previously closed at $271.22.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Wells Fargo & Company upped their target price on Arista Networks from $225.00 to $310.00 and gave the company an "overweight" rating in a research report on Wednesday, February 7th. Melius raised Arista Networks from a "hold" rating to a "buy" rating in a research report on Monday, January 8th. Morgan Stanley upped their target price on Arista Networks from $230.00 to $272.00 and gave the company an "overweight" rating in a research report on Tuesday, January 2nd. Evercore ISI reaffirmed an "outperform" rating and set a $300.00 price objective on shares of Arista Networks in a research report on Wednesday, March 27th. Finally, Barclays increased their price objective on Arista Networks from $272.00 to $311.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $275.59.

Arista Networks Trading Down 3.0 %

The stock has a market capitalization of $82.28 billion, a PE ratio of 41.36, a P/E/G ratio of 2.34 and a beta of 1.09. The firm has a 50 day moving average of $281.78 and a two-hundred day moving average of $242.84.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.38. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period last year, the business posted $1.25 EPS. Arista Networks's quarterly revenue was up 20.8% on a year-over-year basis. Equities research analysts forecast that Arista Networks, Inc. will post 6.63 EPS for the current year.

Insider Activity at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the firm's stock in a transaction on Monday, February 12th. The stock was sold at an average price of $284.31, for a total transaction of $5,686,200.00. Following the completion of the transaction, the senior vice president now owns 3,244 shares of the company's stock, valued at $922,301.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the firm's stock in a transaction on Monday, February 12th. The stock was sold at an average price of $284.31, for a total transaction of $5,686,200.00. Following the completion of the transaction, the senior vice president now owns 3,244 shares of the company's stock, valued at $922,301.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jayshree Ullal sold 18,621 shares of the firm's stock in a transaction 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 transaction, the chief executive officer now directly owns 82,766 shares of the company's stock, valued at approximately $21,320,521.60. The disclosure for this sale can be found here. Insiders sold 361,036 shares of company stock valued at $102,813,921 in the last ninety days. Corporate insiders own 18.99% of the company's stock.

Institutional Investors Weigh In On Arista Networks

Several hedge funds have recently made changes to their positions in ANET. Morgan Stanley boosted its holdings in shares of Arista Networks by 162.2% during the fourth quarter. Morgan Stanley now owns 5,549,335 shares of the technology company's stock worth $673,412,000 after purchasing an additional 3,432,952 shares during the last quarter. Norges Bank acquired a new position in Arista Networks in the fourth quarter valued at $308,885,000. FMR LLC boosted its holdings in Arista Networks by 32.2% in the third quarter. FMR LLC now owns 10,318,633 shares of the technology company's stock valued at $1,897,906,000 after acquiring an additional 2,515,864 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Arista Networks by 5.7% in the fourth quarter. Vanguard Group Inc. now owns 29,494,876 shares of the technology company's stock valued at $6,946,338,000 after acquiring an additional 1,596,040 shares during the last quarter. Finally, Schroder Investment Management Group boosted its holdings in Arista Networks by 439.3% in the third quarter. Schroder Investment Management Group now owns 1,259,305 shares of the technology company's stock valued at $231,624,000 after acquiring an additional 1,025,815 shares during the last quarter. 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.