Arista Networks (NYSE:ANET) Stock Price Up 3.9% – Should You Buy?

Arista Networks, Inc. (NYSE:ANET) was up 3.9% during mid-day trading on Monday . The company traded as high as $86.30 and last traded at $86.41. Approximately 1,635,248 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 8,545,322 shares. The stock had previously closed at $83.13.

Analysts Set New Price Targets

A number of brokerages recently commented on ANET. Barclays reaffirmed an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. Citigroup raised their price objective on shares of Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Morgan Stanley boosted their target price on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. StockNews.com lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Finally, Piper Sandler reiterated a “neutral” rating and set a $108.00 price target (up previously from $106.00) on shares of Arista Networks in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $114.00.

Arista Networks Price Performance

The company has a market capitalization of $109.55 billion, a price-to-earnings ratio of 39.13, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08. The business has a fifty day moving average price of $101.47 and a 200 day moving average price of $101.98.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The firm had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. As a group, sell-side analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP Marc Taxay sold 51,848 shares of Arista Networks stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $88.59, for a total transaction of $4,593,214.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $84.85, for a total transaction of $6,788,000.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at $1,101,013.60. This trade represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 491,001 shares of company stock valued at $49,112,111 over the last three months. 3.54% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Arista Networks

Several large investors have recently modified their holdings of the stock. Caitlin John LLC boosted its stake in Arista Networks by 174.7% in the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after buying an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC grew its holdings in shares of Arista Networks by 335.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock worth $27,000 after purchasing an additional 191 shares during the last quarter. Cranbrook Wealth Management LLC increased its position in shares of Arista Networks by 300.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock worth $29,000 after purchasing an additional 198 shares in the last quarter. Trust Co. of Vermont lifted its holdings in Arista Networks by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after purchasing an additional 198 shares during the last quarter. Finally, New Millennium Group LLC boosted its position in Arista Networks by 300.0% in the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after buying an additional 195 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

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.