Arista Networks (NYSE:ANET) Trading Up 2.6% – Time to Buy?

Arista Networks, Inc. (NYSE:ANET) shares shot up 2.6% on Monday . The company traded as high as $118.79 and last traded at $118.18. 1,976,289 shares traded hands during trading, a decline of 48% from the average session volume of 3,799,963 shares. The stock had previously closed at $115.20.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Piper Sandler restated a “neutral” rating and issued a $105.25 price objective (up previously from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. UBS Group raised their target price on Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Rosenblatt Securities upped their price target on Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a research report on Friday, November 8th. StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Finally, Morgan Stanley boosted their target price on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Arista Networks currently has an average rating of “Moderate Buy” and a consensus target price of $100.70.

Arista Networks Stock Up 0.4 %

The company has a market capitalization of $145.83 billion, a P/E ratio of 55.65, a P/E/G ratio of 3.21 and a beta of 1.08. The firm has a fifty day simple moving average of $105.45 and a 200-day simple moving average of $95.40.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Thursday, November 7th. The technology company reported $0.60 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the prior year, the firm earned $0.41 earnings per share. The firm’s revenue was up 20.0% compared to the same quarter last year. On average, sell-side analysts predict that Arista Networks, Inc. will post 1.96 earnings per share for the current fiscal year.

Insider Activity at Arista Networks

In related news, insider John F. Mccool sold 2,336 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $96.83, for a total transaction of $226,200.72. Following the transaction, the insider now directly owns 288 shares of the company’s stock, valued at approximately $27,887.76. This trade represents a 89.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kelly Bodnar Battles sold 1,492 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $99.12, for a total transaction of $147,887.04. Following the completion of the sale, the director now directly owns 8,768 shares of the company’s stock, valued at $869,084.16. This represents a 14.54 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 265,316 shares of company stock valued at $28,284,376. Insiders own 3.54% of the company’s stock.

Institutional Trading of Arista Networks

Large investors have recently bought and sold shares of the business. Fulton Bank N.A. boosted its stake in shares of Arista Networks by 310.1% in the 4th quarter. Fulton Bank N.A. now owns 21,569 shares of the technology company’s stock valued at $2,384,000 after purchasing an additional 16,310 shares in the last quarter. Range Financial Group LLC boosted its position in Arista Networks by 1,599.0% in the fourth quarter. Range Financial Group LLC now owns 43,562 shares of the technology company’s stock valued at $4,815,000 after buying an additional 40,998 shares in the last quarter. Rise Advisors LLC grew its stake in shares of Arista Networks by 132.0% during the fourth quarter. Rise Advisors LLC now owns 775 shares of the technology company’s stock worth $86,000 after buying an additional 441 shares during the last quarter. Diversified Trust Co lifted its stake in shares of Arista Networks by 440.5% in the 4th quarter. Diversified Trust Co now owns 27,880 shares of the technology company’s stock valued at $3,082,000 after acquiring an additional 22,722 shares during the last quarter. Finally, Horizons Wealth Management boosted its holdings in shares of Arista Networks by 300.0% during the 4th quarter. Horizons Wealth Management now owns 800 shares of the technology company’s stock valued at $88,000 after acquiring an additional 600 shares in the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

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.