Investors Buy High Volume of Arista Networks Call Options (NYSE:ANET)

Arista Networks, Inc. (NYSE:ANET – Get Rating) was the recipient of unusually large options trading on Thursday. Stock traders purchased 13,108 call options on the company. This represents an increase of 61% compared to the average volume of 8,126 call options.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ANET. JPMorgan Chase & Co. increased their price target on shares of Arista Networks from $175.00 to $195.00 and gave the company an “overweight” rating in a research report on Wednesday, April 19th. Argus lifted their target price on shares of Arista Networks from $175.00 to $195.00 in a research report on Tuesday, May 2nd. JMP Securities lifted their target price on shares of Arista Networks from $135.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, February 14th. Piper Sandler boosted their target price on shares of Arista Networks from $162.00 to $166.00 in a research report on Tuesday, May 2nd. Finally, Loop Capital upped their target price on shares of Arista Networks from $181.00 to $188.00 and gave the stock a “buy” rating in a report on Tuesday, February 14th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $173.85.

Insider Transactions at Arista Networks

In other Arista Networks news, insider John F. Mccool sold 2,824 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $142.07, for a total transaction of $401,205.68. Following the sale, the insider now directly owns 72 shares of the company’s stock, valued at $10,229.04. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Arista Networks news, SVP Marc Taxay sold 8,743 shares of the company’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $138.44, for a total value of $1,210,380.92. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John F. Mccool sold 2,824 shares of the stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $142.07, for a total transaction of $401,205.68. Following the sale, the insider now directly owns 72 shares in the company, valued at $10,229.04. The disclosure for this sale can be found here. Insiders have sold a total of 335,130 shares of company stock worth $50,927,557 in the last ninety days. Insiders own 19.59% of the company’s stock.

Hedge Funds Weigh In On Arista Networks

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Arista Networks by 3.0% during the third quarter. Vanguard Group Inc. now owns 26,507,053 shares of the technology company’s stock worth $2,992,380,000 after buying an additional 770,172 shares during the last quarter. BlackRock Inc. boosted its holdings in Arista Networks by 2.0% in the 1st quarter. BlackRock Inc. now owns 18,734,818 shares of the technology company’s stock valued at $3,144,827,000 after purchasing an additional 372,420 shares in the last quarter. First Republic Investment Management Inc. boosted its holdings in Arista Networks by 2,389.3% in the 4th quarter. First Republic Investment Management Inc. now owns 12,400,805 shares of the technology company’s stock valued at $1,504,838,000 after purchasing an additional 11,902,638 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in Arista Networks by 0.3% in the 3rd quarter. Alliancebernstein L.P. now owns 10,585,948 shares of the technology company’s stock valued at $1,195,048,000 after purchasing an additional 32,867 shares in the last quarter. Finally, State Street Corp boosted its holdings in Arista Networks by 3.2% in the 1st quarter. State Street Corp now owns 9,991,923 shares of the technology company’s stock valued at $1,677,231,000 after purchasing an additional 313,036 shares in the last quarter. Hedge funds and other institutional investors own 64.30% of the company’s stock.

Arista Networks Stock Up 10.6 %

Shares of NYSE ANET opened at $156.20 on Friday. The firm has a market cap of $48.15 billion, a price-to-earnings ratio of 32.54, a PEG ratio of 1.79 and a beta of 1.26. Arista Networks has a 52-week low of $89.11 and a 52-week high of $171.44. The business’s 50 day moving average is $154.14 and its two-hundred day moving average is $138.49.

Arista Networks (NYSE:ANET – Get Rating) last posted its earnings results on Monday, May 1st. The technology company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.34 by $0.09. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.31 billion. Arista Networks had a return on equity of 31.33% and a net margin of 31.24%. Arista Networks’s revenue for the quarter was up 54.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.78 earnings per share. Analysts anticipate that Arista Networks will post 5.21 EPS for the current fiscal year.

About Arista Networks

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Arista Networks, Inc engages in the business of developing, marketing, and selling cloud networking solutions. The firm is also involved in switching and routing platforms and related network applications. The company was founded by Andreas Bechtolsheim, David Cheriton, and Kenneth Duda in November 2004 and is headquartered in Santa Clara, CA.