Arista Networks (NYSE:ANET) Hits New 52-Week High – What’s Next?

Arista Networks, Inc. (NYSE:ANET) shares reached a new 52-week high on Wednesday . The company traded as high as $424.01 and last traded at $416.92, with a volume of 384713 shares trading hands. The stock had previously closed at $405.12.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Wells Fargo & Company lifted their price target on shares of Arista Networks from $390.00 to $460.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their target price on Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Rosenblatt Securities boosted their price objective on Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a research note on Wednesday, July 31st. Jefferies Financial Group lifted their target price on shares of Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Morgan Stanley upped their price target on shares of Arista Networks from $325.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $373.88.

Arista Networks Stock Up 4.4 %

The company’s 50-day moving average is $379.96 and its two-hundred day moving average is $342.48. The company has a market capitalization of $132.84 billion, a P/E ratio of 54.84, a PEG ratio of 3.47 and a beta of 1.08.

Insider Activity

In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $394.69, for a total transaction of $7,893,800.00. Following the transaction, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at approximately $1,280,374.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Arista Networks news, Director Kelly Bodnar Battles sold 372 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $356.74, for a total transaction of $132,707.28. Following the transaction, the director now directly owns 2,565 shares of the company’s stock, valued at approximately $915,038.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $394.69, for a total transaction of $7,893,800.00. Following the completion of the sale, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at approximately $1,280,374.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,346 shares of company stock worth $21,614,232. 3.54% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. UniSuper Management Pty Ltd increased its stake in shares of Arista Networks by 20.3% in the 1st quarter. UniSuper Management Pty Ltd now owns 36,329 shares of the technology company’s stock worth $10,535,000 after acquiring an additional 6,133 shares in the last quarter. M&G Plc purchased a new position in shares of Arista Networks during the first quarter valued at approximately $3,238,000. Nordea Investment Management AB grew its stake in shares of Arista Networks by 32.5% in the 1st quarter. Nordea Investment Management AB now owns 26,799 shares of the technology company’s stock worth $7,810,000 after buying an additional 6,578 shares during the last quarter. GW Henssler & Associates Ltd. boosted its holdings in Arista Networks by 3.6% in the third quarter. GW Henssler & Associates Ltd. now owns 63,244 shares of the technology company’s stock worth $24,274,000 after acquiring an additional 2,219 shares in the last quarter. Finally, Deepwater Asset Management LLC bought a new position in shares of Arista Networks during the second quarter valued at $15,084,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

About Arista Networks

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.