Arista Networks (NYSE:ANET) Shares Up 1.4%

Arista Networks, Inc. (NYSE:ANET - Get Free Report)'s stock price shot up 1.4% during mid-day trading on Tuesday . The company traded as high as $251.25 and last traded at $248.84. 599,040 shares changed hands during trading, a decline of 75% from the average session volume of 2,444,150 shares. The stock had previously closed at $245.47.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ANET shares. KeyCorp upped their price target on shares of Arista Networks from $232.00 to $287.00 and gave the company an "overweight" rating in a report on Thursday, January 18th. Morgan Stanley increased their price objective on Arista Networks from $230.00 to $272.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 2nd. Barclays lifted their price target on Arista Networks from $272.00 to $311.00 and gave the company an "overweight" rating in a report on Tuesday, February 13th. Piper Sandler boosted their price objective on shares of Arista Networks from $254.00 to $268.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 13th. Finally, The Goldman Sachs Group lifted their target price on Arista Networks from $313.00 to $356.00 and gave the stock a "buy" rating in a research report on Friday, March 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat, Arista Networks currently has a consensus rating of "Moderate Buy" and a consensus price target of $275.59.

Arista Networks Trading Up 2.4 %

The firm has a market cap of $78.56 billion, a price-to-earnings ratio of 38.25, a P/E/G ratio of 2.10 and a beta of 1.09. The firm's 50-day moving average is $279.29 and its 200-day moving average is $246.19.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.70 by $0.38. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The firm had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.53 billion. During the same period last year, the company earned $1.25 earnings per share. The business's revenue was up 20.8% on a year-over-year basis. Analysts forecast that Arista Networks, Inc. will post 6.7 EPS for the current fiscal year.

Insiders Place Their Bets

In other Arista Networks news, Director Yvonne Wassenaar sold 224 shares of Arista Networks stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total transaction of $57,184.96. Following the transaction, the director now directly owns 2,827 shares of the company's stock, valued at approximately $721,704.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Yvonne Wassenaar sold 224 shares of the business's stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $255.29, for a total value of $57,184.96. Following the transaction, the director now owns 2,827 shares in the company, valued at approximately $721,704.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jayshree Ullal sold 22,000 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $303.00, for a total value of $6,666,000.00. Following the sale, the chief executive officer now directly owns 1,665,300 shares of the company's stock, valued at $504,585,900. The disclosure for this sale can be found here. In the last ninety days, insiders sold 334,227 shares of company stock valued at $95,828,875. Corporate insiders own 18.99% of the company's stock.

Institutional Investors Weigh In On Arista Networks

A number of institutional investors have recently modified their holdings of ANET. Larson Financial Group LLC purchased a new stake in Arista Networks during the 3rd quarter valued at $28,000. First Command Advisory Services Inc. purchased a new stake in shares of Arista Networks during the 3rd quarter valued at about $29,000. Financial Synergies Wealth Advisors Inc. grew its stake in shares of Arista Networks by 872.7% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company's stock worth $31,000 after acquiring an additional 96 shares during the period. BluePath Capital Management LLC bought a new position in Arista Networks during the third quarter valued at approximately $33,000. Finally, NBC Securities Inc. purchased a new stake in Arista Networks in the third quarter worth approximately $33,000. 82.47% of the stock is owned by hedge funds and other institutional investors.

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.