Arista Networks (NYSE:ANET) Price Target Raised to $495.00

Arista Networks (NYSE:ANET) had its price target hoisted by Barclays from $341.00 to $495.00 in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

Several other brokerages also recently commented on ANET. JPMorgan Chase & Co. boosted their price objective on Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. The Goldman Sachs Group upped their price target on Arista Networks from $390.00 to $430.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. KeyCorp lifted their price objective on shares of Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Evercore ISI upped their target price on shares of Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Finally, Wells Fargo & Company lifted their price target on shares of Arista Networks from $390.00 to $460.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $395.19.

Arista Networks Price Performance

ANET opened at $400.45 on Friday. The firm has a market cap of $125.80 billion, a P/E ratio of 51.94, a PEG ratio of 3.72 and a beta of 1.08. Arista Networks has a 1-year low of $203.19 and a 1-year high of $431.97. The company has a 50 day simple moving average of $382.60 and a two-hundred day simple moving average of $344.82.

Shares of Arista Networks are going to split on Wednesday, December 4th. The 4-1 split was announced on Thursday, November 7th. The newly created shares will be issued to shareholders after the closing bell on Tuesday, December 3rd.

Insider Transactions at Arista Networks

In related news, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $420.36, for a total transaction of $8,407,200.00. Following the completion of the transaction, the senior vice president now owns 3,244 shares in the company, valued at $1,363,647.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $382.52, for a total value of $765,040.00. Following the transaction, the director now owns 46,946 shares of the company’s stock, valued at $17,957,783.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $420.36, for a total value of $8,407,200.00. Following the transaction, the senior vice president now directly owns 3,244 shares in the company, valued at $1,363,647.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 78,346 shares of company stock worth $30,021,432. 3.54% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Arista Networks

Large investors have recently modified their holdings of the business. Beacon Capital Management LLC grew its position in shares of Arista Networks by 500.0% in the 2nd quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock worth $27,000 after buying an additional 65 shares during the last quarter. LGT Financial Advisors LLC acquired a new position in shares of Arista Networks during the second quarter worth $27,000. Byrne Asset Management LLC acquired a new position in shares of Arista Networks during the second quarter worth $33,000. Sugarloaf Wealth Management LLC acquired a new stake in shares of Arista Networks in the 2nd quarter worth $35,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Arista Networks in the 2nd quarter worth $35,000. 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.