Stock Traders Purchase Large Volume of Arista Networks Call Options (NYSE:ANET)

Arista Networks, Inc. (NYSE:ANET) was the recipient of unusually large options trading on Tuesday. Investors purchased 26,542 call options on the stock. This represents an increase of 55% compared to the typical volume of 17,088 call options.

Wall Street Analyst Weigh In

ANET has been the subject of several recent research reports. Barclays reduced their price target on Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. Rosenblatt Securities boosted their price objective on Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a research report on Friday, November 8th. UBS Group boosted their price objective on Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a research report on Friday, November 8th. The Goldman Sachs Group boosted their price objective on Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Finally, Piper Sandler restated a “neutral” rating and issued a $105.25 price objective (up from $86.25) on shares of Arista Networks in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $105.83.

Arista Networks Stock Performance

NYSE ANET opened at $106.21 on Wednesday. The stock’s fifty day moving average is $110.83 and its two-hundred day moving average is $98.33. The firm has a market capitalization of $133.80 billion, a P/E ratio of 51.06, a price-to-earnings-growth ratio of 3.49 and a beta of 1.08. Arista Networks has a fifty-two week low of $60.08 and a fifty-two week high of $133.57.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Thursday, November 7th. The technology company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.76 billion. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 earnings per share. As a group, sell-side analysts forecast that Arista Networks will post 1.97 EPS for the current year.

Insider Transactions at Arista Networks

In other news, CEO Jayshree Ullal sold 3,328 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $99.35, for a total value of $330,628.48. Following the completion of the transaction, the chief executive officer now directly owns 70,724 shares in the company, valued at $7,026,252.59. This trade represents a 4.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $98.30, for a total value of $786,360.00. Following the transaction, the director now owns 179,784 shares of the company’s stock, valued at approximately $17,671,868.28. This represents a 4.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 343,992 shares of company stock worth $37,634,420 over the last three months. 3.54% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Arista Networks

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Caitlin John LLC raised its position in Arista Networks by 174.7% in the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after purchasing an additional 152 shares during the period. Cranbrook Wealth Management LLC raised its position in Arista Networks by 300.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after purchasing an additional 198 shares during the period. Trust Co. of Vermont raised its position in Arista Networks by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after purchasing an additional 198 shares during the period. New Millennium Group LLC raised its position in Arista Networks by 300.0% in the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after purchasing an additional 195 shares during the period. Finally, Westside Investment Management Inc. raised its position in Arista Networks by 1,012.0% in the fourth quarter. Westside Investment Management Inc. now owns 278 shares of the technology company’s stock valued at $31,000 after purchasing an additional 253 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

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.