Arista Networks (NYSE:ANET) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Arista Networks (NYSE:ANET) had its target price hoisted by Wells Fargo & Company from $115.00 to $125.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 20.81% from the company’s current price.

A number of other equities research analysts have also recently commented on ANET. The Goldman Sachs Group raised their price target on Arista Networks from $135.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday. UBS Group raised their price target on Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a report on Friday, November 8th. Barclays raised their price target on Arista Networks from $125.00 to $126.00 and gave the company an “overweight” rating in a report on Wednesday. Citigroup raised their price target on Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Needham & Company LLC reissued a “buy” rating and set a $145.00 price target on shares of Arista Networks in a report on Wednesday. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $113.79.

Arista Networks Stock Performance

Shares of Arista Networks stock opened at $103.47 on Wednesday. Arista Networks has a one year low of $60.08 and a one year high of $133.57. The stock’s fifty day moving average is $114.01 and its 200 day moving average is $101.55. The stock has a market cap of $130.35 billion, a P/E ratio of 46.61, a P/E/G ratio of 2.98 and a beta of 1.09.

Arista Networks (NYSE:ANET) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The company 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 31.22% and a net margin of 40.72%. Analysts predict that Arista Networks will post 2.18 EPS for the current year.

Insider Buying and Selling

In related news, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $108.29, for a total value of $8,663,200.00. Following the completion of the sale, the senior vice president now owns 12,976 shares in the company, valued at approximately $1,405,171.04. The trade was a 86.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kelly Bodnar Battles sold 1,488 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $107.13, for a total value of $159,409.44. Following the completion of the sale, the director now owns 8,128 shares of the company’s stock, valued at $870,752.64. The trade was a 15.47 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 259,944 shares of company stock worth $30,214,186. Corporate insiders own 3.54% of the company’s stock.

Institutional Trading of Arista Networks

Large investors have recently modified their holdings of the company. MidAtlantic Capital Management Inc. bought a new position in Arista Networks in the third quarter worth approximately $44,000. HM Payson & Co. raised its stake in Arista Networks by 28.2% in the third quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock worth $51,000 after buying an additional 29 shares in the last quarter. True Wealth Design LLC raised its stake in Arista Networks by 2,133.3% in the third quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock worth $51,000 after buying an additional 128 shares in the last quarter. Anchor Investment Management LLC raised its stake in Arista Networks by 35.0% in the third quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock worth $52,000 after buying an additional 35 shares in the last quarter. Finally, Transcendent Capital Group LLC raised its stake in Arista Networks by 75.0% in the third quarter. Transcendent Capital Group LLC now owns 175 shares of the technology company’s stock worth $67,000 after buying an additional 75 shares in the last quarter. 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.