Arista Networks, Inc. (NYSE:ANET - Get Free Report)'s share price shot up 1.6% during trading on Thursday . The company traded as high as $114.15 and last traded at $112.27. 1,175,663 shares changed hands during trading, a decline of 86% from the average session volume of 8,687,398 shares. The stock had previously closed at $110.53.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on ANET. Wells Fargo & Company increased their price target on Arista Networks from $97.50 to $115.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. Barclays decreased their target price on Arista Networks from $495.00 to $125.00 and set an "overweight" rating on the stock in a research report on Wednesday, December 4th. The Goldman Sachs Group raised their target price on Arista Networks from $97.50 to $107.50 and gave the stock a "buy" rating in a research note on Tuesday, September 24th. Evercore ISI boosted their price objective on shares of Arista Networks from $100.00 to $106.25 and gave the company an "outperform" rating in a report on Tuesday, October 1st. Finally, Morgan Stanley raised their price target on Arista Networks from $102.50 to $118.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. 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. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $100.70.
Check Out Our Latest Analysis on ANET
Arista Networks Stock Performance
The stock's fifty day moving average price is $104.39 and its 200-day moving average price is $94.60. The firm has a market cap of $140.83 billion, a PE ratio of 53.75, a P/E/G ratio of 3.21 and a beta of 1.10.
Arista Networks (NYSE:ANET - Get Free Report) last announced 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. 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 during the quarter, compared to analysts' expectations of $1.76 billion. During the same quarter in the previous year, the business posted $0.41 earnings per share. The firm's quarterly revenue was up 20.0% compared to the same quarter last year. Sell-side analysts forecast that Arista Networks, Inc. will post 1.96 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, CEO Jayshree Ullal sold 3,328 shares of the firm's stock in a transaction that occurred 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 owns 70,724 shares of the company's stock, valued at approximately $7,026,252.59. This trade represents a 4.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John F. Mccool sold 288 shares of the stock in a transaction on 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. Insiders have sold a total of 337,316 shares of company stock worth $35,286,096 over the last quarter. 3.54% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Arista Networks
A number of institutional investors have recently bought and sold shares of the business. LGT Financial Advisors LLC acquired a new position in shares of Arista Networks during the 2nd quarter worth $27,000. Anchor Investment Management LLC acquired a new position in Arista Networks during the second quarter worth $35,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Arista Networks during the 3rd quarter worth about $44,000. HM Payson & Co. increased its holdings in shares of Arista Networks by 28.2% during the 3rd quarter. HM Payson & Co. now owns 132 shares of the technology company's stock valued at $51,000 after acquiring an additional 29 shares during the last quarter. Finally, True Wealth Design LLC raised its stake in shares of Arista Networks by 2,133.3% in the 3rd quarter. True Wealth Design LLC now owns 134 shares of the technology company's stock valued at $51,000 after acquiring an additional 128 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.
About Arista Networks
(
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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