Arista Networks (NYSE:ANET) Trading Up 1.8% – Should You Buy?

by · The Markets Daily

Arista Networks, Inc. (NYSE:ANET – Get Free Report)’s share price traded up 1.8% on Wednesday . The company traded as high as $117.25 and last traded at $117.00. 1,761,618 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 5,621,485 shares. The stock had previously closed at $114.91.

Analyst Ratings Changes

Several brokerages have recently weighed in on ANET. 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. Citigroup boosted their price objective on shares of Arista Networks from $96.25 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Evercore ISI upped their target price on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday. Barclays cut their price target on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. Finally, Rosenblatt Securities raised their price objective on Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.83.

View Our Latest Analysis on ANET

Arista Networks Price Performance

The company has a market cap of $150.90 billion, a price-to-earnings ratio of 57.59, a price-to-earnings-growth ratio of 3.09 and a beta of 1.08. The firm’s 50-day moving average price is $107.45 and its 200-day moving average price is $96.74.

Arista Networks (NYSE:ANET – Get Free Report) last issued 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. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.76 billion. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The company’s revenue was up 20.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.41 earnings per share. On average, sell-side analysts anticipate that Arista Networks, Inc. will post 1.97 earnings per share for the current year.

Insider Transactions at Arista Networks

In related news, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was 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 owns 42,946 shares of the company’s stock, valued at approximately $17,721,666.90. This represents a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction that occurred on 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 sale, the senior vice president now owns 12,976 shares in the company, valued at $1,537,266.72. This represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 345,316 shares of company stock valued at $37,761,976. Corporate insiders own 3.54% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Cranbrook Wealth Management LLC lifted its position in shares of Arista Networks by 300.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock worth $29,000 after purchasing an additional 198 shares during the last quarter. Trust Co. of Vermont raised its stake in Arista Networks by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after buying an additional 198 shares in the last quarter. Westside Investment Management Inc. lifted its holdings in Arista Networks by 1,012.0% during the 4th quarter. Westside Investment Management Inc. now owns 278 shares of the technology company’s stock worth $31,000 after buying an additional 253 shares during the last quarter. Anchor Investment Management LLC acquired a new position in shares of Arista Networks in the 2nd quarter worth approximately $35,000. Finally, Armstrong Advisory Group Inc. increased its holdings in shares of Arista Networks by 300.0% in the 4th quarter. Armstrong Advisory Group Inc. now owns 372 shares of the technology company’s stock valued at $41,000 after acquiring an additional 279 shares during the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

About Arista Networks

(Get Free Report)

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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