Arista Networks (NYSE:ANET) Stock Price Up 1%

Shares of Arista Networks, Inc. (NYSE:ANET) shot up 1% on Tuesday . The company traded as high as $329.17 and last traded at $328.12. 168,083 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 2,342,803 shares. The stock had previously closed at $324.77.

Analysts Set New Price Targets

A number of research firms have issued reports on ANET. Jefferies Financial Group boosted their target price on shares of Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Barclays raised their target price on Arista Networks from $320.00 to $341.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. UBS Group boosted their price target on Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Evercore ISI raised their price target on Arista Networks from $340.00 to $400.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Finally, Wells Fargo & Company upped their price objective on shares of Arista Networks from $340.00 to $390.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. One 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $358.63.

Arista Networks Stock Up 0.4 %

The company’s 50-day simple moving average is $341.40 and its 200 day simple moving average is $312.45. The stock has a market capitalization of $107.89 billion, a price-to-earnings ratio of 47.72, a P/E/G ratio of 2.48 and a beta of 1.07.

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

Insider Buying and Selling

In other Arista Networks news, SVP Marc Taxay sold 624 shares of Arista Networks stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $354.71, for a total value of $221,339.04. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director Kelly Bodnar Battles sold 216 shares of Arista Networks stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $324.02, for a total transaction of $69,988.32. Following the sale, the director now directly owns 2,726 shares of the company’s stock, valued at $883,278.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Marc Taxay sold 624 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $354.71, for a total value of $221,339.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 107,989 shares of company stock valued at $38,219,586. Insiders own 3.54% of the company’s stock.

Institutional Trading of Arista Networks

Institutional investors have recently modified their holdings of the company. Benjamin Edwards Inc. acquired a new stake in Arista Networks during the first quarter worth $26,000. Beacon Capital Management LLC boosted its position in shares of Arista Networks by 500.0% during 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 in the last quarter. LGT Financial Advisors LLC bought a new stake in Arista Networks in the second quarter valued at about $27,000. Financial Synergies Wealth Advisors Inc. raised its position in 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 purchasing an additional 96 shares in the last quarter. Finally, Byrne Asset Management LLC bought a new position in Arista Networks during the second quarter worth about $33,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

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.