Arista Networks (NYSE:ANET) Trading 1.9% Higher - Time to Buy?

Arista Networks, Inc. (NYSE:ANET - Get Free Report) shares traded up 1.9% on Tuesday . The company traded as high as $115.10 and last traded at $114.73. 981,827 shares were traded during mid-day trading, a decline of 82% from the average session volume of 5,442,593 shares. The stock had previously closed at $112.64.

Wall Street Analysts Forecast Growth

ANET has been the subject of several research analyst reports. UBS Group raised their price objective on Arista Networks from $92.25 to $106.25 and gave the company a "neutral" rating in a research note on Friday, November 8th. The Goldman Sachs Group lifted their price target on Arista Networks from $97.50 to $107.50 and gave the stock a "buy" rating in a research note on Tuesday, September 24th. Citigroup increased their price objective on shares of Arista Networks from $96.25 to $115.00 and gave the company a "buy" rating in a research note on Tuesday, October 8th. Wells Fargo & Company lifted their target price on shares of Arista Networks from $97.50 to $115.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. Finally, Evercore ISI increased their price target on shares of Arista Networks from $100.00 to $106.25 and gave the company an "outperform" rating in a research report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $102.42.

Arista Networks Stock Up 2.0 %

The company has a market capitalization of $144.71 billion, a PE ratio of 55.23, a P/E/G ratio of 3.21 and a beta of 1.08. The firm's 50 day simple moving average is $107.03 and its 200-day simple moving average is $96.46.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.52 by $0.08. The company had revenue of $1.81 billion for 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% compared to the same quarter last year. During the same period last year, the company posted $0.41 earnings per share. As a group, sell-side analysts anticipate that Arista Networks, Inc. will post 1.96 EPS for the current fiscal year.

Insider Buying and Selling

In other news, SVP Marc Taxay sold 2,496 shares of the company's stock in a transaction dated 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 document filed with the SEC, which is accessible through the SEC website. Also, Director Kelly Bodnar Battles sold 1,492 shares of the company's stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $99.12, for a total value of $147,887.04. Following the sale, the director now owns 8,768 shares in the company, valued at $869,084.16. The trade was a 14.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 345,316 shares of company stock valued at $37,761,976 in the last quarter. Company insiders own 3.54% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. grew its holdings in Arista Networks by 97.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company's stock worth $628,966,000 after buying an additional 884,703 shares in the last quarter. International Assets Investment Management LLC boosted its position in Arista Networks by 39,841.1% during the 3rd quarter. International Assets Investment Management LLC now owns 875,110 shares of the technology company's stock worth $3,358,850,000 after acquiring an additional 872,919 shares during the period. 1832 Asset Management L.P. grew its stake in shares of Arista Networks by 4,160.9% in the second quarter. 1832 Asset Management L.P. now owns 515,700 shares of the technology company's stock worth $180,743,000 after purchasing an additional 503,597 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Arista Networks by 22.7% during the third quarter. Wellington Management Group LLP now owns 2,660,695 shares of the technology company's stock valued at $1,021,228,000 after purchasing an additional 492,615 shares during the period. Finally, State Street Corp grew its position in Arista Networks by 3.8% in the 3rd quarter. State Street Corp now owns 11,237,635 shares of the technology company's stock valued at $4,313,229,000 after buying an additional 411,109 shares in 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.