Arista Networks, Inc. (NYSE:ANET) Receives Average Rating of "Moderate Buy" from Analysts

Arista Networks, Inc. (NYSE:ANET - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the fifteen brokerages that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $104.29.

ANET has been the subject of a number of recent research reports. The Goldman Sachs Group reiterated a "buy" rating on shares of Arista Networks in a report on Monday, March 3rd. Citigroup dropped their price objective on shares of Arista Networks from $121.00 to $92.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Rosenblatt Securities reduced their target price on shares of Arista Networks from $85.00 to $55.00 and set a "sell" rating on the stock in a research note on Tuesday. Morgan Stanley dropped their price target on shares of Arista Networks from $118.00 to $73.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Finally, Wells Fargo & Company reissued an "overweight" rating on shares of Arista Networks in a research report on Monday, March 3rd.

Arista Networks Trading Up 3.9 %

Shares of ANET stock traded up $2.94 on Wednesday, reaching $78.23. The company's stock had a trading volume of 8,808,448 shares, compared to its average volume of 9,108,730. The stock's fifty day simple moving average is $81.23 and its 200-day simple moving average is $98.52. Arista Networks has a 1 year low of $59.43 and a 1 year high of $133.58. The company has a market capitalization of $98.23 billion, a price-to-earnings ratio of 35.22, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30.

Arista Networks (NYSE:ANET - Get Free Report) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. Equities research analysts forecast that Arista Networks will post 2.2 earnings per share for the current year.

Insider Transactions at Arista Networks

In related news, Director Kelly Bodnar Battles sold 1,492 shares of the stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $68.49, for a total transaction of $102,187.08. Following the completion of the sale, the director now owns 7,480 shares of the company's stock, valued at $512,305.20. This represents a 16.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $112.02, for a total transaction of $896,160.00. Following the completion of the transaction, the director now directly owns 155,784 shares in the company, valued at $17,450,923.68. This represents a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 412,355 shares of company stock valued at $39,446,799. Corporate insiders own 3.54% of the company's stock.

Institutional Investors Weigh In On Arista Networks

A number of large investors have recently modified their holdings of ANET. Tradewinds Capital Management LLC raised its position in shares of Arista Networks by 45.8% in the 1st quarter. Tradewinds Capital Management LLC now owns 455 shares of the technology company's stock valued at $35,000 after purchasing an additional 143 shares during the last quarter. Northwest Wealth Management LLC purchased a new stake in Arista Networks during the 1st quarter valued at about $258,000. Amalgamated Bank raised its stake in shares of Arista Networks by 1.4% in the first quarter. Amalgamated Bank now owns 229,639 shares of the technology company's stock worth $17,792,000 after purchasing an additional 3,175 shares during the last quarter. Citizens National Bank Trust Department purchased a new position in Arista Networks during the 1st quarter worth approximately $337,000. Finally, Root Financial Partners LLC boosted its holdings in shares of Arista Networks by 78.7% in the 1st quarter. Root Financial Partners LLC now owns 3,507 shares of the technology company's stock valued at $272,000 after acquiring an additional 1,544 shares during the last quarter. Hedge funds and other institutional investors 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.