Arista Networks (NYSE:ANET) Trading Down 0.5%

Arista Networks, Inc. (NYSE:ANET) shares dropped 0.5% on Tuesday . The stock traded as low as $261.75 and last traded at $262.48. Approximately 353,201 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 2,444,573 shares. The stock had previously closed at $263.67.

Wall Street Analysts Forecast Growth

ANET has been the subject of several recent research reports. KeyCorp lifted their price objective on Arista Networks from $232.00 to $287.00 and gave the stock an “overweight” rating in a report on Thursday, January 18th. Morgan Stanley upped their price objective on shares of Arista Networks from $230.00 to $272.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $320.00 target price on shares of Arista Networks in a research report on Tuesday, February 13th. JPMorgan Chase & Co. upped their price objective on Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Finally, Wells Fargo & Company increased their target price on Arista Networks from $225.00 to $310.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. One 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $275.59.

Arista Networks Stock Down 2.7 %

The stock has a market capitalization of $80.46 billion, a P/E ratio of 39.95, a P/E/G ratio of 2.26 and a beta of 1.09. The business has a fifty day moving average price of $279.13 and a 200-day moving average price of $248.11.

Arista Networks (NYSE:ANET) last released its earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter last year, the business posted $1.25 earnings per share. The firm’s revenue was up 20.8% on a year-over-year basis. On average, equities analysts expect that Arista Networks, Inc. will post 6.7 earnings per share for the current fiscal year.

Insider Activity at Arista Networks

In other news, insider John F. Mccool sold 420 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $266.08, for a total value of $111,753.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider John F. Mccool sold 420 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $266.08, for a total value of $111,753.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jayshree Ullal sold 22,000 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $303.00, for a total value of $6,666,000.00. Following the sale, the chief executive officer now directly owns 1,665,300 shares of the company’s stock, valued at $504,585,900. The disclosure for this sale can be found here. Over the last three months, insiders sold 332,514 shares of company stock valued at $95,369,397. Insiders own 18.99% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ANET. Benjamin Edwards Inc. purchased a new position in shares of Arista Networks in the 1st quarter valued at $26,000. Larson Financial Group LLC acquired a new stake in shares of Arista Networks in the 3rd quarter worth $28,000. First Command Advisory Services Inc. acquired a new stake in shares of Arista Networks in the 3rd quarter worth $29,000. Financial Synergies Wealth Advisors Inc. lifted its position in Arista Networks by 872.7% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock worth $31,000 after acquiring an additional 96 shares during the period. Finally, BluePath Capital Management LLC acquired a new stake in Arista Networks during the 3rd quarter worth about $33,000. 82.47% of the stock is currently owned by hedge funds and other 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.