Arista Networks Inc (NYSE:ANET) was the recipient of some unusual options trading activity on Monday. Investors acquired 10,954 put options on the company. This is an increase of 1,304% compared to the typical daily volume of 780 put options.
Several research firms have recently weighed in on ANET. Needham & Company LLC increased their price target on shares of Arista Networks from $300.00 to $315.00 and gave the company a “buy” rating in a research note on Friday, February 16th. DA Davidson set a $300.00 price target on shares of Arista Networks and gave the company a “buy” rating in a research report on Friday, February 16th. Stifel Nicolaus raised their price target on shares of Arista Networks from $270.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Gabelli lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Friday, February 16th. Finally, Oppenheimer raised their price objective on shares of Arista Networks to $300.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Fourteen research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $249.42.
Arista Networks (NYSE:ANET) traded up $8.82 on Wednesday, reaching $298.50. 1,390,916 shares of the company’s stock traded hands, compared to its average volume of 1,700,000. The stock has a market capitalization of $22,050.00, a P/E ratio of 50.00, a P/E/G ratio of 2.16 and a beta of 1.46. The company has a current ratio of 4.28, a quick ratio of 3.70 and a debt-to-equity ratio of 0.02. Arista Networks has a 12 month low of $126.01 and a 12 month high of $311.67.
Arista Networks (NYSE:ANET) last announced its earnings results on Thursday, February 15th. The technology company reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.32. The business had revenue of $467.90 million during the quarter, compared to the consensus estimate of $463.82 million. Arista Networks had a net margin of 25.71% and a return on equity of 25.86%. The business’s quarterly revenue was up 42.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.04 earnings per share. equities research analysts anticipate that Arista Networks will post 6.01 EPS for the current year.
In other Arista Networks news, SVP Kenneth Duda sold 127,576 shares of the stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $235.15, for a total value of $29,999,496.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jayshree Ullal sold 300 shares of the stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $297.78, for a total transaction of $89,334.00. Following the completion of the sale, the chief executive officer now owns 5,900 shares of the company’s stock, valued at approximately $1,756,902. The disclosure for this sale can be found here. Insiders have sold 225,742 shares of company stock worth $56,033,731 over the last three months. Corporate insiders own 28.09% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Compagnie Lombard Odier SCmA bought a new position in Arista Networks during the 4th quarter valued at $100,000. PNC Financial Services Group Inc. boosted its stake in Arista Networks by 20.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 740 shares of the technology company’s stock valued at $111,000 after acquiring an additional 126 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in Arista Networks by 164.5% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 484 shares of the technology company’s stock valued at $114,000 after acquiring an additional 301 shares during the last quarter. Fieldpoint Private Securities LLC bought a new position in Arista Networks during the 3rd quarter valued at $130,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in Arista Networks during the 3rd quarter valued at $151,000. Institutional investors and hedge funds own 56.52% of the company’s stock.
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About Arista Networks
Arista Networks, Inc is a supplier of cloud networking solutions that use software innovations to address the needs of Internet companies, cloud service providers and data centers for enterprise support. It develops, markets and sells cloud networking solutions, which consist of its Gigabit Ethernet switches and related software.
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