Arista Networks, Inc. (NYSE:ANET) Receives $113.79 Consensus Price Target from Analysts

Shares of Arista Networks, Inc. (NYSE:ANET) have been given an average rating of “Moderate Buy” by the fifteen brokerages that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $114.00.

A number of brokerages have commented on ANET. Citigroup raised their price objective on Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Wells Fargo & Company raised their price objective on Arista Networks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Rosenblatt Securities restated a “sell” rating and set a $80.00 price objective on shares of Arista Networks in a research report on Tuesday, February 18th. StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Finally, UBS Group upgraded Arista Networks from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $112.00 to $115.00 in a research report on Wednesday.

Arista Networks Trading Down 1.2 %

Shares of ANET opened at $83.31 on Tuesday. The business’s 50-day moving average price is $108.92 and its 200 day moving average price is $102.08. The stock has a market capitalization of $105.07 billion, a P/E ratio of 37.53, a P/E/G ratio of 3.10 and a beta of 1.08. Arista Networks has a 1-year low of $60.08 and a 1-year high of $133.57.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. On average, research analysts predict that Arista Networks will post 2.2 earnings per share for the current year.

Insider Buying and Selling

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $89.03, for a total value of $712,240.00. Following the transaction, the director now directly owns 147,784 shares of the company’s stock, valued at $13,157,209.52. The trade was a 5.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jayshree Ullal sold 138,351 shares of Arista Networks stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $93.88, for a total value of $12,988,391.88. Following the completion of the transaction, the chief executive officer now directly owns 92,641 shares in the company, valued at approximately $8,697,137.08. This represents a 59.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 411,289 shares of company stock worth $42,355,417. 3.54% of the stock is currently owned by insiders.

Institutional Trading of Arista Networks

Institutional investors and hedge funds have recently modified their holdings of the company. MidAtlantic Capital Management Inc. bought a new stake in shares of Arista Networks during the third quarter valued at approximately $44,000. True Wealth Design LLC increased its position in shares of Arista Networks by 2,133.3% during the third quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock valued at $51,000 after purchasing an additional 128 shares during the period. Anchor Investment Management LLC increased its position in shares of Arista Networks by 35.0% during the third quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock valued at $52,000 after purchasing an additional 35 shares during the period. Transcendent Capital Group LLC increased its position in shares of Arista Networks by 75.0% during the third quarter. Transcendent Capital Group LLC now owns 175 shares of the technology company’s stock valued at $67,000 after purchasing an additional 75 shares during the period. Finally, Princeton Global Asset Management LLC bought a new stake in shares of Arista Networks during the third quarter valued at approximately $69,000. 82.47% of the stock is currently owned by institutional investors.

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.