Arista Networks (NYSE:ANET) Stock Price Up 2.6% - Should You Buy?

Shares of Arista Networks, Inc. (NYSE:ANET - Get Free Report) shot up 2.6% during trading on Tuesday . The stock traded as high as $105.49 and last traded at $102.89. 8,330,525 shares traded hands during trading, an increase of 2% from the average session volume of 8,166,788 shares. The stock had previously closed at $100.30.

Wall Street Analysts Forecast Growth

ANET has been the subject of a number of research analyst reports. Morgan Stanley lifted their price target on Arista Networks from $102.50 to $118.00 and gave the company an "overweight" rating in a report on Tuesday, December 17th. Evercore ISI boosted their target price on shares of Arista Networks from $110.00 to $130.00 and gave the stock an "outperform" rating in a research note on Friday, January 17th. StockNews.com cut shares of Arista Networks from a "buy" rating to a "hold" rating in a research note on Thursday, December 12th. The Goldman Sachs Group boosted their price objective on shares of Arista Networks from $120.00 to $135.00 and gave the stock a "buy" rating in a research report on Friday, January 17th. Finally, Wells Fargo & Company increased their price objective on Arista Networks from $97.50 to $115.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. One 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's stock. Based on data from MarketBeat.com, Arista Networks presently has an average rating of "Moderate Buy" and an average target price of $105.83.

Arista Networks Stock Performance

The business's 50-day moving average is $111.84 and its two-hundred day moving average is $98.85. The firm has a market capitalization of $145.13 billion, a price-to-earnings ratio of 55.39, a P/E/G ratio of 2.90 and a beta of 1.08.

Arista Networks (NYSE:ANET - Get Free Report) last posted its earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $1.76 billion. During the same period last year, the business posted $0.41 earnings per share. The business's revenue for the quarter was up 20.0% compared to the same quarter last year. Analysts forecast that Arista Networks, Inc. will post 1.97 EPS for the current year.

Insider Buying and Selling at Arista Networks

In related news, Director Charles H. Giancarlo sold 2,000 shares of the company's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $412.65, for a total value of $825,300.00. Following the completion of the transaction, the director now directly owns 42,946 shares of the company's stock, valued at approximately $17,721,666.90. This represents a 4.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $118.47, for a total value of $9,477,600.00. Following the transaction, the senior vice president now owns 12,976 shares of the company's stock, valued at approximately $1,537,266.72. The trade was a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 331,160 shares of company stock valued at $36,380,165. Company insiders own 3.54% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Truist Financial Corp increased its position in shares of Arista Networks by 3.3% in the second quarter. Truist Financial Corp now owns 22,881 shares of the technology company's stock valued at $8,019,000 after acquiring an additional 740 shares during the last quarter. Anchor Investment Management LLC bought a new position in Arista Networks in the second quarter valued at approximately $35,000. Centaurus Financial Inc. increased its position in shares of Arista Networks by 46.5% during the 2nd quarter. Centaurus Financial Inc. now owns 2,053 shares of the technology company's stock worth $720,000 after purchasing an additional 652 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its stake in shares of Arista Networks by 10.7% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 724 shares of the technology company's stock worth $278,000 after purchasing an additional 70 shares in the last quarter. Finally, Czech National Bank boosted its holdings in shares of Arista Networks by 8.5% in the 3rd quarter. Czech National Bank now owns 52,476 shares of the technology company's stock valued at $20,141,000 after buying an additional 4,108 shares during the last quarter. Institutional investors 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.