Trading Report: Today, Arista Networks Inc. (ANET) Given “Market Perform” Rating at William Blair

Today, Arista Networks Inc. (ANET) Given “Market Perform” Rating at William Blair

Arista Networks Inc. (NYSE:ANET)‘s stock had its “market perform” rating restated by William Blair in a research report issued on Monday.

Other analysts have also recently issued reports about the company. Deutsche Bank AG upped their target price on Arista Networks from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, September 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $105.00 price objective on shares of Arista Networks in a research report on Monday, August 8th. Oppenheimer Holdings Inc. set a $90.00 price objective on Arista Networks and gave the stock a “buy” rating in a research report on Friday, August 5th. Credit Suisse Group AG reaffirmed a “buy” rating and set a $90.00 price objective on shares of Arista Networks in a research report on Wednesday, August 24th. Finally, Argus began coverage on Arista Networks in a research report on Tuesday, October 25th. They set a “buy” rating and a $107.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $90.14.

Shares of Arista Networks (NYSE:ANET) traded down 0.56% during mid-day trading on Monday, hitting $94.66. The stock had a trading volume of 365,498 shares. The company has a market cap of $6.65 billion, a PE ratio of 40.94 and a beta of 1.12. Arista Networks has a 52-week low of $52.51 and a 52-week high of $95.47. The stock has a 50 day moving average price of $85.56 and a 200-day moving average price of $77.32.

Arista Networks (NYSE:ANET) last announced its earnings results on Thursday, November 3rd. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.10. The firm earned $290.26 million during the quarter, compared to analysts’ expectations of $283.33 million. Arista Networks had a return on equity of 20.69% and a net margin of 16.15%. The business’s revenue was up 33.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.59 EPS. On average, equities analysts expect that Arista Networks will post $3.08 earnings per share for the current fiscal year.

In other news, SVP Kenneth Duda sold 11,746 shares of the firm’s stock in a transaction on Monday, October 10th. The stock was sold at an average price of $86.53, for a total transaction of $1,016,381.38. Following the sale, the senior vice president now owns 420 shares in the company, valued at $36,342.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jayshree Ullal sold 386,291 shares of the firm’s stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $87.97, for a total value of $33,982,019.27. The disclosure for this sale can be found here. Insiders own 32.39% of the company’s stock.

Several large investors have recently bought and sold shares of ANET. Scout Investments Inc. acquired a new stake in Arista Networks during the third quarter valued at about $22,366,000. Price T Rowe Associates Inc. MD boosted its stake in Arista Networks by 42.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 57,952 shares of the company’s stock valued at $4,931,000 after buying an additional 17,211 shares during the period. LPL Financial LLC boosted its stake in Arista Networks by 16.6% in the third quarter. LPL Financial LLC now owns 4,618 shares of the company’s stock valued at $394,000 after buying an additional 656 shares during the period. Credit Suisse AG boosted its stake in Arista Networks by 154.7% in the third quarter. Credit Suisse AG now owns 57,974 shares of the company’s stock valued at $4,933,000 after buying an additional 35,211 shares during the period. Finally, 1832 Asset Management L.P. acquired a new stake in Arista Networks during the third quarter valued at about $30,091,000. Institutional investors and hedge funds own 54.58% of the company’s stock.

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