Arista Networks (NYSE:ANET) Trading 0.2% Higher

Arista Networks, Inc. (NYSE:ANET - Get Free Report) shares rose 0.2% during mid-day trading on Monday . The stock traded as high as $271.42 and last traded at $265.23. Approximately 498,171 shares were traded during trading, a decline of 80% from the average daily volume of 2,458,442 shares. The stock had previously closed at $264.70.

Analyst Upgrades and Downgrades

ANET has been the topic of several recent research reports. The Goldman Sachs Group upped their price objective on Arista Networks from $313.00 to $356.00 and gave the stock a "buy" rating in a report on Friday, March 22nd. JMP Securities reaffirmed a "market outperform" rating and set a $325.00 price objective on shares of Arista Networks in a report on Tuesday, February 13th. Barclays upped their price objective on Arista Networks from $272.00 to $311.00 and gave the stock an "overweight" rating in a report on Tuesday, February 13th. Piper Sandler increased their price target on Arista Networks from $254.00 to $268.00 and gave the company a "neutral" rating in a report on Tuesday, February 13th. Finally, Wells Fargo & Company increased their price target on Arista Networks from $225.00 to $310.00 and gave the company an "overweight" rating in a report on Wednesday, February 7th. One equities research 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.com, Arista Networks currently has a consensus rating of "Moderate Buy" and an average target price of $275.59.

Arista Networks Trading Down 0.4 %

The company has a 50-day simple moving average of $279.13 and a 200 day simple moving average of $248.11. The company has a market cap of $82.69 billion, a P/E ratio of 40.13, a P/E/G ratio of 2.26 and a beta of 1.09.

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

Insider Transactions at Arista Networks

In other news, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $290.05, for a total transaction of $5,801,000.00. Following the transaction, the senior vice president now owns 3,244 shares of the company's stock, valued at approximately $940,922.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Kenneth Duda sold 20,000 shares of the firm's stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $290.05, for a total transaction of $5,801,000.00. Following the sale, the senior vice president now owns 3,244 shares of the company's stock, valued at $940,922.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Yvonne Wassenaar sold 224 shares of the firm's stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total value of $57,184.96. Following the sale, the director now directly owns 2,827 shares in the company, valued at approximately $721,704.83. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 332,514 shares of company stock valued at $95,369,397. 18.99% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Arista Networks

A number of institutional investors have recently added to or reduced their stakes in the stock. Benjamin F. Edwards & Company Inc. boosted its position in Arista Networks by 365.6% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 8,939 shares of the technology company's stock valued at $2,593,000 after purchasing an additional 7,019 shares in the last quarter. Silicon Valley Capital Partners purchased a new stake in Arista Networks in the first quarter valued at about $57,000. Groesbeck Investment Management Corp NJ raised its stake in Arista Networks by 11.7% in the first quarter. Groesbeck Investment Management Corp NJ now owns 3,235 shares of the technology company's stock valued at $938,000 after buying an additional 340 shares during the last quarter. Weatherly Asset Management L. P. raised its stake in Arista Networks by 19.6% in the first quarter. Weatherly Asset Management L. P. now owns 17,201 shares of the technology company's stock valued at $4,988,000 after buying an additional 2,816 shares during the last quarter. Finally, Conning Inc. raised its stake in Arista Networks by 7.6% in the first quarter. Conning Inc. now owns 1,111 shares of the technology company's stock valued at $322,000 after buying an additional 78 shares during the last quarter. 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.