Arista Networks (NYSE:ANET) Trading 1.3% Higher – What’s Next?

Arista Networks, Inc. (NYSE:ANET) traded up 1.3% during trading on Monday . The company traded as high as $136.28 and last traded at $135.3670. 7,851,674 shares changed hands during trading, a decline of 5% from the average session volume of 8,286,630 shares. The stock had previously closed at $133.57.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ANET. UBS Group set a $200.00 price objective on shares of Arista Networks in a research note on Tuesday, February 24th. Morgan Stanley reissued an “overweight” rating and set a $165.00 price target on shares of Arista Networks in a research note on Friday, February 13th. KeyCorp reiterated an “overweight” rating and issued a $178.00 target price (up from $170.00) on shares of Arista Networks in a research note on Friday, February 13th. Evercore reiterated an “outperform” rating and set a $200.00 target price on shares of Arista Networks in a research report on Friday, February 13th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Arista Networks in a research note on Monday, December 29th. Eighteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Arista Networks presently has a consensus rating of “Moderate Buy” and an average target price of $176.47.

Arista Networks Stock Up 1.3%

The stock has a fifty day moving average of $134.86 and a two-hundred day moving average of $137.35. The stock has a market cap of $170.09 billion, a price-to-earnings ratio of 49.05, a PEG ratio of 2.37 and a beta of 1.46.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Thursday, February 12th. The technology company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.75 by $0.07. The company had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.38 billion. Arista Networks had a return on equity of 30.37% and a net margin of 38.99%.The firm’s revenue was up 28.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.66 earnings per share. Equities research analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Insider Buying and Selling at Arista Networks

In related news, Director Kelly Bodnar Battles sold 422 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $128.06, for a total value of $54,041.32. Following the transaction, the director owned 9,529 shares in the company, valued at approximately $1,220,283.74. This trade represents a 4.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Kenneth Duda sold 26,000 shares of Arista Networks stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $142.35, for a total transaction of $3,701,100.00. Following the transaction, the insider directly owned 512,400 shares in the company, valued at approximately $72,940,140. This trade represents a 4.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 196,237 shares of company stock worth $25,865,760 in the last quarter. Company insiders own 3.54% of the company’s stock.

Institutional Trading of Arista Networks

A number of institutional investors have recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its position in shares of Arista Networks by 321.7% in the fourth quarter. Brighton Jones LLC now owns 7,806 shares of the technology company’s stock worth $863,000 after buying an additional 5,955 shares during the period. Revolve Wealth Partners LLC purchased a new stake in shares of Arista Networks during the 4th quarter valued at about $202,000. Bison Wealth LLC acquired a new position in Arista Networks during the 4th quarter worth approximately $251,000. Sivia Capital Partners LLC lifted its position in Arista Networks by 48.4% during the 2nd quarter. Sivia Capital Partners LLC now owns 10,723 shares of the technology company’s stock worth $1,097,000 after acquiring an additional 3,496 shares in the last quarter. Finally, Foundations Investment Advisors LLC boosted its holdings in Arista Networks by 67.0% in the 2nd quarter. Foundations Investment Advisors LLC now owns 11,787 shares of the technology company’s stock worth $1,206,000 after acquiring an additional 4,728 shares during the period. 82.47% of the stock is owned by hedge funds and other institutional investors.

About Arista Networks

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.