Brokerages Set Arista Networks, Inc. (NYSE:ANET) Price Target at $369.50

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

A number of equities research analysts recently issued reports on ANET shares. Wells Fargo & Company increased their price target on Arista Networks from $390.00 to $460.00 and gave the stock an “overweight” rating in a research report on Wednesday. UBS Group increased their target price on Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Morgan Stanley boosted their price target on Arista Networks from $325.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. Citigroup increased their price objective on shares of Arista Networks from $385.00 to $460.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, Jefferies Financial Group boosted their target price on shares of Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st.

Arista Networks Stock Performance

Shares of Arista Networks stock opened at $394.23 on Wednesday. Arista Networks has a 52-week low of $203.19 and a 52-week high of $422.73. The stock has a market cap of $123.85 billion, a PE ratio of 51.13, a PEG ratio of 3.49 and a beta of 1.07. The firm has a 50-day moving average of $376.13 and a 200-day moving average of $338.73.

Arista Networks (NYSE:ANET) last announced its earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.38. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the prior year, the business posted $1.41 EPS. The business’s revenue was up 15.9% compared to the same quarter last year. Equities research analysts predict that Arista Networks will post 7.42 earnings per share for the current fiscal year.

Insider Activity at Arista Networks

In other news, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $394.69, for a total value of $7,893,800.00. Following the completion of the transaction, the senior vice president now owns 3,244 shares of the company’s stock, valued at $1,280,374.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Arista Networks news, Director Kelly Bodnar Battles sold 216 shares of Arista Networks stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $324.02, for a total transaction of $69,988.32. Following the transaction, the director now directly owns 2,726 shares of the company’s stock, valued at approximately $883,278.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $394.69, for a total value of $7,893,800.00. Following the completion of the sale, the senior vice president now owns 3,244 shares in the company, valued at $1,280,374.36. This trade 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 90 days. 3.54% of the stock is owned by corporate insiders.

Institutional Trading of Arista Networks

Several institutional investors have recently added to or reduced their stakes in the stock. XML Financial LLC lifted its position in shares of Arista Networks by 10.6% in the 3rd quarter. XML Financial LLC now owns 3,263 shares of the technology company’s stock worth $1,252,000 after purchasing an additional 312 shares during the period. Atria Investments Inc lifted its holdings in Arista Networks by 15.0% in the third quarter. Atria Investments Inc now owns 16,961 shares of the technology company’s stock valued at $6,510,000 after buying an additional 2,218 shares during the period. Objective Capital Management LLC bought a new stake in Arista Networks during the third quarter valued at $392,000. Lindbrook Capital LLC grew its holdings in Arista Networks by 5.3% during the 3rd quarter. Lindbrook Capital LLC now owns 3,720 shares of the technology company’s stock worth $1,428,000 after acquiring an additional 187 shares during the period. Finally, Assetmark Inc. raised its position in shares of Arista Networks by 57.7% in the 3rd quarter. Assetmark Inc. now owns 58,941 shares of the technology company’s stock worth $22,623,000 after acquiring an additional 21,576 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

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.