Arista Networks (NYSE:ANET) Stock Price Up 0.6% - Time to Buy?

Arista Networks, Inc. (NYSE:ANET - Get Free Report)'s share price traded up 0.6% during mid-day trading on Thursday . The stock traded as high as $112.12 and last traded at $108.76. 1,357,855 shares were traded during mid-day trading, a decline of 85% from the average session volume of 8,793,188 shares. The stock had previously closed at $108.07.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Piper Sandler reiterated a "neutral" rating and issued a $105.25 price objective (up from $86.25) on shares of Arista Networks in a research report on Friday, November 8th. Citigroup boosted 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. Barclays reduced their price objective on shares of Arista Networks from $495.00 to $125.00 and set an "overweight" rating on the stock in a research note on Wednesday, December 4th. Morgan Stanley upped their target price on shares of Arista Networks from $102.50 to $118.00 and gave the company an "overweight" rating in a research report on Tuesday. Finally, StockNews.com cut Arista Networks from a "buy" rating to a "hold" rating in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $100.70.

Arista Networks Stock Up 0.9 %

The company's fifty day moving average price is $102.00 and its two-hundred day moving average price is $92.07. The company has a market cap of $137.40 billion, a price-to-earnings ratio of 52.44, a PEG ratio of 3.21 and a beta of 1.10.

Arista Networks (NYSE:ANET - Get Free Report) last released its earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.52 by $0.08. The firm had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.76 billion. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The company's revenue was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 EPS. On average, equities research analysts predict that Arista Networks, Inc. will post 1.96 earnings per share for the current fiscal year.

Insider Buying and Selling at Arista Networks

In related news, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $95.63, for a total value of $765,040.00. Following the sale, the director now owns 187,784 shares of the company's stock, valued at approximately $17,957,783.92. The trade was a 4.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John F. Mccool sold 288 shares of the company's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $108.70, for a total value of $31,305.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 353,476 shares of company stock worth $36,841,998. Corporate insiders own 3.54% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. lifted its stake in Arista Networks by 50.8% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 66,211 shares of the technology company's stock valued at $23,206,000 after purchasing an additional 22,307 shares during the last quarter. GYL Financial Synergies LLC raised its stake in Arista Networks by 3.0% in the 2nd quarter. GYL Financial Synergies LLC now owns 5,354 shares of the technology company's stock valued at $1,876,000 after acquiring an additional 155 shares during the period. &PARTNERS lifted its holdings in Arista Networks by 102.8% during the 2nd quarter. &PARTNERS now owns 4,045 shares of the technology company's stock valued at $1,417,000 after purchasing an additional 2,050 shares during the last quarter. LVZ Inc. boosted its position in Arista Networks by 53.0% during the second quarter. LVZ Inc. now owns 1,590 shares of the technology company's stock worth $557,000 after purchasing an additional 551 shares during the period. Finally, Catalina Capital Group LLC increased its holdings in shares of Arista Networks by 6.3% in the second quarter. Catalina Capital Group LLC now owns 930 shares of the technology company's stock valued at $326,000 after purchasing an additional 55 shares during the last quarter. Institutional investors and hedge funds 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.