Arista Networks (NYSE:ANET) Shares Up 2.1%

Arista Networks, Inc. (NYSE:ANET) rose 2.1% on Tuesday . The company traded as high as $368.14 and last traded at $366.64. Approximately 333,338 shares traded hands during trading, a decline of 86% from the average daily volume of 2,320,935 shares. The stock had previously closed at $359.16.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $375.00 price target on shares of Arista Networks in a research report on Wednesday, July 31st. Barclays boosted their price objective on Arista Networks from $320.00 to $341.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. KeyCorp raised their target price on Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. UBS Group increased their price target on Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Finally, Citigroup lifted their price objective on shares of Arista Networks from $330.00 to $385.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $358.63.

Arista Networks Trading Up 4.9 %

The firm has a market cap of $118.88 billion, a P/E ratio of 52.93, a PEG ratio of 2.70 and a beta of 1.07. The company’s 50-day moving average is $340.70 and its two-hundred day moving average is $315.34.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.38. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter last year, the company earned $1.41 earnings per share. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. Research analysts anticipate that Arista Networks, Inc. will post 7.38 EPS for the current fiscal year.

Insider Transactions at Arista Networks

In related news, Director Kelly Bodnar Battles sold 372 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $356.74, for a total transaction of $132,707.28. Following the transaction, the director now directly owns 2,565 shares of the company’s stock, valued at $915,038.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Kelly Bodnar Battles sold 372 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $356.74, for a total transaction of $132,707.28. Following the completion of the sale, the director now directly owns 2,565 shares of the company’s stock, valued at $915,038.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $352.93, for a total value of $705,860.00. Following the completion of the transaction, the director now directly owns 52,946 shares in the company, valued at approximately $18,686,231.78. The disclosure for this sale can be found here. Insiders sold a total of 107,361 shares of company stock worth $38,024,123 in the last quarter. 3.54% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Arista Networks

Several institutional investors and hedge funds have recently bought and sold shares of ANET. Benjamin Edwards Inc. purchased a new position in shares of Arista Networks during the 1st quarter valued at $26,000. Beacon Capital Management LLC raised its stake in Arista Networks by 500.0% in the 2nd quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after acquiring an additional 65 shares during the period. LGT Financial Advisors LLC purchased a new stake in Arista Networks during the second quarter valued at about $27,000. Financial Synergies Wealth Advisors Inc. boosted its position in Arista Networks by 872.7% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock worth $31,000 after purchasing an additional 96 shares during the period. Finally, Byrne Asset Management LLC purchased a new position in shares of Arista Networks in the second quarter worth about $33,000. 82.47% of the stock is owned by institutional investors.

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.