Arista Networks (NYSE:ANET) Trading 6.5% Higher – What’s Next?

Arista Networks, Inc. (NYSE:ANET) shot up 6.5% during trading on Wednesday . The company traded as high as $130.19 and last traded at $129.43. 3,192,405 shares traded hands during trading, a decline of 46% from the average session volume of 5,966,801 shares. The stock had previously closed at $121.50.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ANET. Morgan Stanley upped their target price on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. The Goldman Sachs Group lifted their target price on Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, January 17th. StockNews.com cut shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Piper Sandler restated a “neutral” rating and set a $105.25 price objective (up previously from $86.25) on shares of Arista Networks in a research report on Friday, November 8th. Finally, UBS Group boosted their target price on shares of Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a report on Friday, November 8th. 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. According to MarketBeat, Arista Networks has an average rating of “Moderate Buy” and a consensus price target of $105.83.

Arista Networks Stock Down 0.0 %

The firm has a 50-day moving average of $109.97 and a two-hundred day moving average of $97.91. The stock has a market capitalization of $162.63 billion, a price-to-earnings ratio of 62.06, a price-to-earnings-growth ratio of 3.49 and a beta of 1.08.

Arista Networks (NYSE:ANET) last issued its earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. The company had revenue of $1.81 billion for 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 firm’s quarterly revenue was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 EPS. As a group, sell-side analysts predict that Arista Networks, Inc. will post 1.97 EPS for the current year.

Insider Buying and Selling at Arista Networks

In related news, SVP Marc Taxay sold 2,496 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $96.83, for a total transaction of $241,693.92. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $105.09, for a total transaction of $8,407,200.00. Following the completion of the sale, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at $1,363,647.84. This represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 343,992 shares of company stock valued at $37,634,420 in the last quarter. Company insiders own 3.54% of the company’s stock.

Institutional Trading of Arista Networks

Several large investors have recently made changes to their positions in the stock. Swedbank AB grew its position in shares of Arista Networks by 293.2% in the fourth quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock valued at $746,165,000 after purchasing an additional 5,034,022 shares during the last quarter. Jennison Associates LLC boosted its stake in Arista Networks by 307.7% during the 4th quarter. Jennison Associates LLC now owns 4,632,730 shares of the technology company’s stock valued at $512,056,000 after purchasing an additional 3,496,497 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in Arista Networks by 473.2% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,326,274 shares of the technology company’s stock valued at $146,593,000 after buying an additional 1,094,910 shares during the last quarter. Ameriprise Financial Inc. increased its position in Arista Networks by 97.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company’s stock worth $628,966,000 after buying an additional 884,703 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in shares of Arista Networks by 39,841.1% during the third quarter. International Assets Investment Management LLC now owns 875,110 shares of the technology company’s stock worth $3,358,850,000 after buying an additional 872,919 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.