Arista Networks, Inc. (NYSE:ANET - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $100.30, but opened at $105.02. Arista Networks shares last traded at $102.73, with a volume of 3,615,985 shares traded.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on ANET. Rosenblatt Securities increased their target price on Arista Networks from $66.25 to $80.00 and gave the company a "sell" rating in a research note on Friday, November 8th. Morgan Stanley raised their price objective on Arista Networks from $102.50 to $118.00 and gave the company an "overweight" rating in a report on Tuesday, December 17th. UBS Group upped their target price on Arista Networks from $92.25 to $106.25 and gave the stock a "neutral" rating in a research note on Friday, November 8th. Citigroup lifted their price target on shares of Arista Networks from $96.25 to $115.00 and gave the stock a "buy" rating in a research note on Tuesday, October 8th. Finally, StockNews.com cut shares of Arista Networks from a "buy" rating to a "hold" rating in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Arista Networks currently has an average rating of "Moderate Buy" and an average price target of $105.83.
View Our Latest Report on Arista Networks
Arista Networks Trading Up 1.2 %
The firm has a market cap of $145.13 billion, a PE ratio of 55.39, a PEG ratio of 2.90 and a beta of 1.08. The firm has a fifty day simple moving average of $111.84 and a two-hundred day simple moving average of $98.85.
Arista Networks (NYSE:ANET - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The technology company reported $0.60 EPS for the quarter, topping analysts' consensus estimates of $0.52 by $0.08. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.76 billion. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The firm's revenue was up 20.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.41 earnings per share. Equities analysts expect that Arista Networks, Inc. will post 1.97 earnings per share for the current fiscal year.
Insider Activity at Arista Networks
In related news, CEO Jayshree Ullal sold 3,328 shares of the company's stock in a transaction on Monday, November 4th. The stock was sold at an average price of $99.35, for a total value of $330,628.48. Following the sale, the chief executive officer now directly owns 70,724 shares of the company's stock, valued at $7,026,252.59. This represents a 4.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Charles H. Giancarlo sold 2,000 shares of the firm's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $412.65, for a total value of $825,300.00. Following the transaction, the director now directly owns 42,946 shares of the company's stock, valued at $17,721,666.90. This represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 331,160 shares of company stock worth $36,380,165 over the last 90 days. 3.54% of the stock is owned by company insiders.
Hedge Funds Weigh In On Arista Networks
Institutional investors and hedge funds have recently made changes to their positions in the business. Caitlin John LLC increased its position in Arista Networks by 174.7% during the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company's stock valued at $26,000 after buying an additional 152 shares in the last quarter. Cranbrook Wealth Management LLC increased its holdings in shares of Arista Networks by 300.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company's stock valued at $29,000 after acquiring an additional 198 shares in the last quarter. Trust Co. of Vermont raised its position in shares of Arista Networks by 300.0% in the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company's stock worth $29,000 after purchasing an additional 198 shares during the last quarter. New Millennium Group LLC boosted its stake in Arista Networks by 300.0% in the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock worth $29,000 after purchasing an additional 195 shares in the last quarter. Finally, Westside Investment Management Inc. grew its position in Arista Networks by 1,012.0% during the 4th quarter. Westside Investment Management Inc. now owns 278 shares of the technology company's stock valued at $31,000 after purchasing an additional 253 shares during the last quarter. Institutional investors own 82.47% of the company's stock.
Arista Networks Company Profile
(
Get Free Report)
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.
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