Arista Networks (NYSE:ANET) Stock Price Up 0.4% – Here’s What Happened

Arista Networks, Inc. (NYSE:ANET)’s share price traded up 0.4% on Thursday . The company traded as high as $116.27 and last traded at $115.76. 5,371,953 shares were traded during trading, a decline of 16% from the average session volume of 6,396,429 shares. The stock had previously closed at $115.29.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Rosenblatt Securities raised their price objective on Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a research report on Friday, November 8th. Evercore ISI raised their price objective on Arista Networks from $100.00 to $106.25 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Wells Fargo & Company raised their price objective on Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Barclays cut their price objective on Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. Finally, The Goldman Sachs Group raised their price objective on Arista Networks from $97.50 to $107.50 and gave the company a “buy” rating in a research report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Arista Networks currently has an average rating of “Moderate Buy” and an average target price of $102.42.

Arista Networks Price Performance

The company has a 50-day simple moving average of $106.48 and a 200-day simple moving average of $95.91. The firm has a market cap of $144.19 billion, a PE ratio of 55.03, a price-to-earnings-growth ratio of 3.21 and a beta of 1.08.

Arista Networks (NYSE:ANET) last announced its earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.08. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the previous year, the business earned $0.41 earnings per share. The company’s revenue for the quarter was up 20.0% compared to the same quarter last year. As a group, equities research analysts predict that Arista Networks, Inc. will post 1.96 earnings per share for the current year.

Insider Activity

In related news, SVP Marc Taxay sold 2,496 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $96.83, for a total value of $241,693.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John F. Mccool sold 288 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $108.70, for a total transaction of $31,305.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 345,316 shares of company stock valued at $37,761,976. Corporate insiders own 3.54% of the company’s stock.

Hedge Funds Weigh In On Arista Networks

Large investors have recently bought and sold shares of the business. Anchor Investment Management LLC purchased a new position in Arista Networks in the second quarter worth $35,000. MidAtlantic Capital Management Inc. purchased a new position in Arista Networks in the third quarter worth $44,000. ORG Partners LLC grew its holdings in Arista Networks by 179.7% in the fourth quarter. ORG Partners LLC now owns 400 shares of the technology company’s stock worth $44,000 after purchasing an additional 257 shares during the last quarter. HM Payson & Co. grew its holdings in Arista Networks by 28.2% in the third quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock worth $51,000 after purchasing an additional 29 shares during the last quarter. Finally, True Wealth Design LLC grew its holdings in Arista Networks by 2,133.3% in the third quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock worth $51,000 after purchasing an additional 128 shares during the last quarter. 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.