Brokerages Set Arista Networks, Inc. (NYSE:ANET) PT at $395.19

Shares of Arista Networks, Inc. (NYSE:ANET) have been given an average rating of “Moderate Buy” by the nineteen analysts that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $395.19.

ANET has been the subject of a number of recent analyst reports. Piper Sandler reiterated a “neutral” rating and issued a $421.00 price objective (up previously from $345.00) on shares of Arista Networks in a report on Friday, November 8th. Rosenblatt Securities increased their price target on shares of Arista Networks from $265.00 to $320.00 and gave the company a “sell” rating in a research report on Friday, November 8th. Barclays upped their target price on shares of Arista Networks from $341.00 to $495.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. UBS Group lifted their price target on shares of Arista Networks from $369.00 to $425.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, The Goldman Sachs Group upped their price objective on shares of Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th.

Arista Networks Trading Down 1.5 %

Shares of ANET stock opened at $402.29 on Friday. Arista Networks has a 1 year low of $210.69 and a 1 year high of $431.97. The firm’s 50 day moving average is $396.23 and its 200-day moving average is $355.98. The firm has a market capitalization of $126.70 billion, a price-to-earnings ratio of 48.35, a PEG ratio of 3.22 and a beta of 1.08.

Arista Networks’s stock is going to split on the morning of 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.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Thursday, November 7th. The technology company reported $2.40 EPS for the quarter, topping the consensus estimate of $2.08 by $0.32. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the previous year, the company earned $1.63 EPS. Arista Networks’s revenue was up 20.0% on a year-over-year basis. On average, equities research analysts forecast that Arista Networks will post 7.75 earnings per share for the current fiscal year.

Insider Transactions at Arista Networks

In other Arista Networks news, insider John F. Mccool sold 1,585 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $394.33, for a total value of $625,013.05. Following the completion of the sale, the insider now owns 72 shares of the company’s stock, valued at $28,391.76. The trade was a 95.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $394.69, for a total transaction of $7,893,800.00. Following the completion of the sale, the senior vice president now owns 3,244 shares of the company’s stock, valued at approximately $1,280,374.36. The trade was a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 75,771 shares of company stock valued at $29,995,584. 3.54% of the stock is currently owned by corporate insiders.

Institutional Trading of Arista Networks

Large investors have recently modified their holdings of the stock. Zions Bancorporation N.A. lifted its position in Arista Networks by 6.9% during the third quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock worth $160,000 after purchasing an additional 27 shares during the period. Intellectus Partners LLC boosted its position in shares of Arista Networks by 1.4% during the 3rd quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock worth $740,000 after acquiring an additional 27 shares in the last quarter. First Affirmative Financial Network increased its stake in Arista Networks by 4.3% in the third quarter. First Affirmative Financial Network now owns 682 shares of the technology company’s stock valued at $262,000 after acquiring an additional 28 shares during the last quarter. Altman Advisors Inc. raised its position in Arista Networks by 0.5% during the third quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock valued at $2,250,000 after purchasing an additional 28 shares in the last quarter. Finally, FCG Investment Co lifted its stake in Arista Networks by 2.3% during the second quarter. FCG Investment Co now owns 1,271 shares of the technology company’s stock worth $445,000 after purchasing an additional 29 shares during the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

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.