Arista Networks, Inc. (NYSE:ANET) Receives $369.50 Average PT from Brokerages

Arista Networks, Inc. (NYSE:ANET) has earned a consensus rating of “Moderate Buy” from the nineteen ratings firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $373.88.

Several equities research analysts have recently weighed in on the stock. The Goldman Sachs Group upped their price target on shares of Arista Networks from $390.00 to $430.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Citigroup increased their target price on Arista Networks from $385.00 to $460.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Morgan Stanley boosted their price target on Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday, July 18th. UBS Group raised their price objective on Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Finally, Barclays boosted their target price on shares of Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st.

Insider Activity at Arista Networks

In other Arista Networks news, Director Kelly Bodnar Battles sold 373 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $396.48, for a total transaction of $147,887.04. Following the sale, the director now owns 2,192 shares in the company, valued at approximately $869,084.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $382.52, for a total transaction of $765,040.00. Following the completion of the transaction, the director now directly owns 46,946 shares in the company, valued at $17,957,783.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kelly Bodnar Battles sold 373 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $396.48, for a total value of $147,887.04. Following the completion of the sale, the director now owns 2,192 shares in the company, valued at approximately $869,084.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,522 shares of company stock valued at $20,099,338 in the last ninety days. Company insiders own 3.54% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Beacon Capital Management LLC raised its position in Arista Networks by 500.0% during the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock worth $27,000 after acquiring an additional 65 shares during the period. LGT Financial Advisors LLC acquired a new stake in Arista Networks in the 2nd quarter worth about $27,000. Byrne Asset Management LLC purchased a new stake in Arista Networks during the 2nd quarter worth approximately $33,000. Sugarloaf Wealth Management LLC acquired a new stake in shares of Arista Networks in the second quarter worth approximately $35,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Arista Networks during the second quarter worth approximately $35,000. 82.47% of the stock is owned by institutional investors and hedge funds.

Arista Networks Price Performance

NYSE:ANET opened at $394.17 on Wednesday. Arista Networks has a 1-year low of $203.19 and a 1-year high of $422.73. The company has a 50-day moving average of $376.13 and a 200 day moving average of $339.82. The firm has a market cap of $123.83 billion, a PE ratio of 51.12, a price-to-earnings-growth ratio of 3.40 and a beta of 1.08.

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.