Arista Networks (NYSE:ANET) Trading Up 0.7% – Should You Buy?

Arista Networks, Inc. (NYSE:ANET)’s share price shot up 0.7% on Monday . The company traded as high as $85.41 and last traded at $84.10. 1,934,101 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 8,660,206 shares. The stock had previously closed at $83.51.

Wall Street Analysts Forecast Growth

ANET has been the topic of several research reports. Citigroup boosted their price objective on shares of Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Rosenblatt Securities reaffirmed a “sell” rating and issued a $80.00 price target on shares of Arista Networks in a report on Tuesday, February 18th. Barclays reissued an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Evercore ISI upped their target price on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Finally, Morgan Stanley lifted their price target on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $114.00.

Arista Networks Trading Down 1.3 %

The stock has a market capitalization of $105.88 billion, a P/E ratio of 37.82, a P/E/G ratio of 3.10 and a beta of 1.08. The firm’s fifty day moving average is $104.44 and its 200-day moving average is $101.89.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. Equities research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insiders Place Their Bets

In related news, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $112.02, for a total value of $896,160.00. Following the completion of the sale, the director now owns 155,784 shares of the company’s stock, valued at $17,450,923.68. This trade represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $118.47, for a total value of $9,477,600.00. Following the completion of the transaction, the senior vice president now owns 12,976 shares in the company, valued at $1,537,266.72. The trade was a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 491,001 shares of company stock valued at $49,112,111. 3.54% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Arista Networks

A number of institutional investors and hedge funds have recently made changes to their positions in ANET. Caitlin John LLC raised its holdings in Arista Networks by 174.7% during the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock worth $26,000 after purchasing an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC raised its stake in shares of Arista Networks by 335.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock worth $27,000 after buying an additional 191 shares during the last quarter. Cranbrook Wealth Management LLC lifted its holdings in Arista Networks by 300.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after buying an additional 198 shares during the period. Trust Co. of Vermont boosted its stake in Arista Networks by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after acquiring an additional 198 shares during the last quarter. Finally, New Millennium Group LLC grew its holdings in Arista Networks by 300.0% during the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock worth $29,000 after acquiring an additional 195 shares during the period. Institutional investors own 82.47% of the company’s stock.

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.