Arista Networks (NYSE:ANET) Trading Up 1.7% - Time to Buy?

Shares of Arista Networks, Inc. (NYSE:ANET - Get Free Report) shot up 1.7% on Thursday . The company traded as high as $118.88 and last traded at $118.06. 1,592,253 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 5,762,369 shares. The stock had previously closed at $116.10.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Morgan Stanley boosted their target price on shares of Arista Networks from $102.50 to $118.00 and gave the stock an "overweight" rating in a report on Tuesday, December 17th. Barclays dropped their price objective on Arista Networks from $495.00 to $125.00 and set an "overweight" rating for the company in a report on Wednesday, December 4th. Citigroup upped their price target on shares of Arista Networks from $96.25 to $115.00 and gave the stock a "buy" rating in a report on Tuesday, October 8th. Rosenblatt Securities increased their price objective on Arista Networks from $66.25 to $80.00 and gave the stock a "sell" rating in a research note on Friday, November 8th. Finally, StockNews.com downgraded Arista Networks from a "buy" rating to a "hold" rating in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $102.42.

Arista Networks Trading Up 2.5 %

The company has a market capitalization of $149.92 billion, a price-to-earnings ratio of 57.20, a PEG ratio of 3.09 and a beta of 1.08. The company has a fifty day moving average of $107.03 and a 200-day moving average of $96.46.

Arista Networks (NYSE:ANET - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.52 by $0.08. The business 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 company's quarterly revenue was up 20.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.41 EPS. As a group, equities research analysts expect that Arista Networks, Inc. will post 1.97 EPS for the current year.

Insider Buying and Selling at Arista Networks

In other news, SVP Kenneth Duda sold 80,000 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $105.09, for a total value of $8,407,200.00. Following the completion of the transaction, the senior vice president now owns 12,976 shares of the company's stock, valued at approximately $1,363,647.84. This trade represents a 86.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the company's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $98.30, for a total transaction of $786,360.00. Following the sale, the director now directly owns 179,784 shares in the company, valued at approximately $17,671,868.28. The trade was a 4.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 345,316 shares of company stock worth $37,761,976 over the last three months. Insiders own 3.54% of the company's stock.

Hedge Funds Weigh In On Arista Networks

Several institutional investors have recently modified their holdings of ANET. Cranbrook Wealth Management LLC grew its stake in Arista Networks by 300.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company's stock worth $29,000 after purchasing an additional 198 shares in the last quarter. Trust Co. of Vermont increased its stake in shares of Arista Networks by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company's stock worth $29,000 after buying an additional 198 shares during the period. Anchor Investment Management LLC acquired a new stake in Arista Networks in the second quarter valued at approximately $35,000. Armstrong Advisory Group Inc. lifted its stake in Arista Networks by 300.0% in the fourth quarter. Armstrong Advisory Group Inc. now owns 372 shares of the technology company's stock worth $41,000 after acquiring an additional 279 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new position in Arista Networks during the 3rd quarter worth approximately $44,000. 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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