Arista Networks (NYSE:ANET) Shares Up 0.2%

Shares of Arista Networks, Inc. (NYSE:ANET) shot up 0.2% on Monday . The stock traded as high as $276.87 and last traded at $271.72. 851,849 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 2,413,680 shares. The stock had previously closed at $271.22.

Analysts Set New Price Targets

Several brokerages have weighed in on ANET. Morgan Stanley boosted their price objective on Arista Networks from $230.00 to $272.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Evercore ISI reissued an “outperform” rating and set a $300.00 target price on shares of Arista Networks in a research note on Wednesday, March 27th. JMP Securities reissued a “market outperform” rating and set a $325.00 target price on shares of Arista Networks in a research note on Tuesday, February 13th. Oppenheimer reissued a “market perform” rating on shares of Arista Networks in a research note on Tuesday, February 13th. Finally, Needham & Company LLC reissued a “buy” rating and set a $320.00 target price on shares of Arista Networks in a research note on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Arista Networks currently has an average rating of “Moderate Buy” and an average target price of $275.59.

Arista Networks Price Performance

The stock has a market capitalization of $82.16 billion, a PE ratio of 40.00, a PEG ratio of 2.26 and a beta of 1.09. The business has a 50 day moving average price of $281.54 and a 200 day moving average price of $243.95.

Arista Networks (NYSE:ANET) last released its earnings results on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the prior year, the firm posted $1.25 earnings per share. The company’s quarterly revenue was up 20.8% on a year-over-year basis. On average, equities analysts expect that Arista Networks, Inc. will post 6.67 earnings per share for the current year.

Insider Transactions at Arista Networks

In other news, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $290.05, for a total transaction of $5,801,000.00. Following the transaction, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at $940,922.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Jayshree Ullal sold 4,042 shares of the company’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $299.99, for a total transaction of $1,212,559.58. Following the transaction, the chief executive officer now directly owns 1,628,532 shares of the company’s stock, valued at $488,543,314.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $290.05, for a total value of $5,801,000.00. Following the transaction, the senior vice president now directly owns 3,244 shares in the company, valued at $940,922.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 361,036 shares of company stock valued at $102,813,921. Insiders own 18.99% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ANET. Larson Financial Group LLC bought a new position in Arista Networks in the third quarter valued at about $28,000. First Command Advisory Services Inc. bought a new position in shares of Arista Networks in the third quarter worth about $29,000. Hollencrest Capital Management bought a new position in shares of Arista Networks in the first quarter worth about $30,000. Financial Synergies Wealth Advisors Inc. raised its stake in shares of Arista Networks by 872.7% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock worth $31,000 after buying an additional 96 shares during the period. Finally, BluePath Capital Management LLC bought a new position in shares of Arista Networks in the third quarter worth about $33,000. Institutional investors own 82.47% of the company’s stock.

About Arista Networks

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.