Arista Networks (NYSE:ANET) Stock Price Up 1.2%

Arista Networks, Inc. (NYSE:ANET)’s share price rose 1.2% on Thursday . The company traded as high as $259.26 and last traded at $258.17. Approximately 411,799 shares traded hands during trading, a decline of 83% from the average daily volume of 2,438,280 shares. The stock had previously closed at $255.21.

Analyst Ratings Changes

Several research analysts recently commented on ANET shares. Piper Sandler lifted their target price on shares of Arista Networks from $254.00 to $268.00 and gave the stock a “neutral” rating in a report on Tuesday, February 13th. The Goldman Sachs Group lifted their target price on shares of Arista Networks from $313.00 to $356.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. 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. Melius upgraded shares of Arista Networks from a “hold” rating to a “buy” rating in a report on Monday, January 8th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $325.00 target price on shares of Arista Networks in a report on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $275.59.

Arista Networks Trading Up 2.2 %

The firm’s 50 day simple moving average is $279.08 and its two-hundred day simple moving average is $248.62. The firm has a market cap of $81.79 billion, a price-to-earnings ratio of 39.39, a PEG ratio of 2.19 and a beta of 1.13.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.38. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The business’s revenue was up 20.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.25 EPS. As a group, equities research analysts anticipate that Arista Networks, Inc. will post 6.7 earnings per share for the current fiscal year.

Insider Activity at Arista Networks

In related news, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $286.52, for a total transaction of $573,040.00. Following the sale, the director now directly owns 60,946 shares of the company’s stock, valued at approximately $17,462,247.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $286.52, for a total transaction of $573,040.00. Following the sale, the director now directly owns 60,946 shares of the company’s stock, valued at approximately $17,462,247.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jayshree Ullal sold 87,418 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $278.81, for a total transaction of $24,373,012.58. Following the sale, the chief executive officer now directly owns 17,681 shares in the company, valued at $4,929,639.61. The disclosure for this sale can be found here. In the last three months, insiders have sold 332,514 shares of company stock valued at $95,369,397. 18.99% of the stock is owned by insiders.

Institutional Investors Weigh In On Arista Networks

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Arista Networks by 5.7% in the 4th quarter. Vanguard Group Inc. now owns 29,494,876 shares of the technology company’s stock valued at $6,946,338,000 after purchasing an additional 1,596,040 shares during the last quarter. FMR LLC lifted its position in shares of Arista Networks by 32.2% during the 3rd 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 period. Capital World Investors lifted its position in shares of Arista Networks by 0.5% during the 4th quarter. Capital World Investors now owns 10,136,348 shares of the technology company’s stock valued at $2,387,211,000 after acquiring an additional 55,312 shares during the period. WCM Investment Management LLC lifted its position in shares of Arista Networks by 0.8% during the 1st quarter. WCM Investment Management LLC now owns 3,049,416 shares of the technology company’s stock valued at $884,270,000 after acquiring an additional 25,196 shares during the period. Finally, Norges Bank acquired a new position in shares of Arista Networks during the 4th quarter valued at $586,051,000. 82.47% of the stock is owned by 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.