Arista Networks (NYSE:ANET) Reaches New 1-Year High at $395.85

Arista Networks, Inc. (NYSE:ANET) reached a new 52-week high during trading on Thursday . The company traded as high as $395.85 and last traded at $395.85, with a volume of 97836 shares changing hands. The stock had previously closed at $388.21.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Citigroup raised their target price on shares of Arista Networks from $330.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Wells Fargo & Company increased their price target on shares of Arista Networks from $340.00 to $390.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Rosenblatt Securities boosted their price objective on Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group raised their price objective on Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Evercore ISI restated an “outperform” rating and issued a $400.00 price target on shares of Arista Networks in a research report on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Arista Networks currently has a consensus rating of “Moderate Buy” and a consensus price target of $363.25.

Arista Networks Price Performance

The firm has a market capitalization of $119.09 billion, a PE ratio of 52.93, a price-to-earnings-growth ratio of 3.04 and a beta of 1.07. The stock’s 50-day moving average price is $344.70 and its 200 day moving average price is $319.38.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.38. The business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.41 EPS. Equities research analysts forecast that Arista Networks, Inc. will post 7.38 earnings per share for the current fiscal year.

Insider Buying and Selling at Arista Networks

In other news, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $370.70, for a total value of $7,414,000.00. Following the completion of the sale, the senior vice president now owns 3,244 shares of the company’s stock, valued at approximately $1,202,550.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Jayshree Ullal sold 25,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $357.00, for a total value of $8,925,000.00. Following the sale, the chief executive officer now directly owns 1,595,800 shares in the company, valued at approximately $569,700,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $370.70, for a total transaction of $7,414,000.00. Following the transaction, the senior vice president now owns 3,244 shares of the company’s stock, valued at approximately $1,202,550.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 82,361 shares of company stock valued at $29,349,123. Company insiders own 3.54% of the company’s stock.

Institutional Investors Weigh In On Arista Networks

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

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.