Arista Networks (NYSE:ANET) Stock Price Up 1.5% - Here's Why

Arista Networks, Inc. (NYSE:ANET - Get Free Report)'s share price was up 1.5% during mid-day trading on Friday . The company traded as high as $108.75 and last traded at $108.45. Approximately 1,797,623 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 8,855,719 shares. The stock had previously closed at $106.83.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ANET. Rosenblatt Securities boosted their price target on Arista Networks from $66.25 to $80.00 and gave the stock a "sell" rating in a research note on Friday, November 8th. Barclays lowered their target price on Arista Networks from $495.00 to $125.00 and set an "overweight" rating on the stock in a report on Wednesday. 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. UBS Group increased their price objective on shares of Arista Networks from $92.25 to $106.25 and gave the company a "neutral" rating in a research note on Friday, November 8th. Finally, Citigroup lifted their price objective on Arista Networks from $96.25 to $115.00 and gave the stock a "buy" rating in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $98.88.

Arista Networks Stock Performance

The company's fifty day moving average price is $99.81 and its two-hundred day moving average price is $89.84. The firm has a market capitalization of $34.44 billion, a PE ratio of 13.03, a price-to-earnings-growth ratio of 3.12 and a beta of 1.10.

Arista Networks (NYSE:ANET - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.52 by $0.08. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter last year, the firm posted $0.41 earnings per share. Arista Networks's revenue was up 20.0% on a year-over-year basis. On average, equities analysts expect that Arista Networks, Inc. will post 7.79 earnings per share for the current year.

Insider Buying and Selling at Arista Networks

In related news, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $412.65, for a total transaction of $825,300.00. Following the transaction, the director now owns 42,946 shares in the company, valued at approximately $17,721,666.90. The trade was a 4.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Marc Taxay sold 2,496 shares of the company's stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $97.09, for a total transaction of $242,342.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 274,676 shares of company stock valued at $28,280,199. 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 modified their holdings of ANET. Ameriprise Financial Inc. lifted its position in shares of Arista Networks by 97.2% during the second quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company's stock worth $628,966,000 after purchasing an additional 884,703 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Arista Networks by 39,841.1% in 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 buying an additional 872,919 shares in the last quarter. 1832 Asset Management L.P. lifted its holdings in Arista Networks by 4,160.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 515,700 shares of the technology company's stock worth $180,743,000 after buying an additional 503,597 shares in the last quarter. Wellington Management Group LLP boosted its position in Arista Networks by 22.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,660,695 shares of the technology company's stock valued at $1,021,228,000 after buying an additional 492,615 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Arista Networks by 3.8% during the third quarter. State Street Corp now owns 11,237,635 shares of the technology company's stock valued at $4,313,229,000 after acquiring an additional 411,109 shares in the last quarter. Institutional investors and hedge funds 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.

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