Arista Networks (NYSE:ANET) Trading Up 1.4% – Still a Buy?

Arista Networks, Inc. (NYSE:ANET) shares were up 1.4% during mid-day trading on Thursday . The stock traded as high as $416.00 and last traded at $411.81. Approximately 459,365 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 2,237,973 shares. The stock had previously closed at $406.08.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. The Goldman Sachs Group upped their price target on Arista Networks from $390.00 to $430.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Rosenblatt Securities upped their price target on Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a research report on Wednesday, July 31st. Evercore ISI upped their price target on Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Jefferies Financial Group upped their price target on Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. upped their price target on Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $369.50.

Arista Networks Trading Up 0.3 %

The business has a 50 day moving average of $364.47 and a two-hundred day moving average of $330.06. The firm has a market cap of $127.66 billion, a P/E ratio of 57.36, a PEG ratio of 3.21 and a beta of 1.07.

Arista Networks (NYSE:ANET) last posted its quarterly 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 business had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the prior year, the business earned $1.41 EPS. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, sell-side analysts predict that Arista Networks, Inc. will post 7.38 EPS for the current year.

Insider Activity at Arista Networks

In other Arista Networks news, SVP Marc Taxay sold 628 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $350.50, for a total transaction of $220,114.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Arista Networks news, SVP Kenneth Duda sold 1,592 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $349.55, for a total transaction of $556,483.60. Following the transaction, the senior vice president now owns 186,600 shares in the company, valued at $65,226,030. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Marc Taxay sold 628 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $350.50, for a total value of $220,114.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,197 shares of company stock worth $21,326,894. Company insiders own 3.54% of the company’s stock.

Institutional Trading of Arista Networks

Several large investors have recently modified their holdings of ANET. Wellington Management Group LLP grew its holdings in shares of Arista Networks by 1.2% during the 4th quarter. Wellington Management Group LLP now owns 525,976 shares of the technology company’s stock worth $123,873,000 after purchasing an additional 6,402 shares in the last quarter. SageView Advisory Group LLC acquired a new stake in shares of Arista Networks during the 4th quarter worth $235,000. Nomura Holdings Inc. acquired a new stake in shares of Arista Networks during the 4th quarter worth $1,193,000. NBC Securities Inc. grew its holdings in shares of Arista Networks by 21.5% during the 1st quarter. NBC Securities Inc. now owns 215 shares of the technology company’s stock worth $62,000 after purchasing an additional 38 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its stake in Arista Networks by 13.9% in the first quarter. Massmutual Trust Co. FSB ADV now owns 524 shares of the technology company’s stock valued at $152,000 after buying an additional 64 shares in the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

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.