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

Shares of Arista Networks, Inc. (NYSE:ANET) have received a consensus rating of “Moderate Buy” from the nineteen ratings firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $395.19.

ANET has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their target price on Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group upped their price objective on Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. UBS Group lifted their price objective on Arista Networks from $369.00 to $425.00 and gave the stock a “neutral” 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 report on Friday, November 8th. Finally, Wells Fargo & Company lifted their price target on shares of Arista Networks from $390.00 to $460.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th.

Arista Networks Stock Performance

Arista Networks stock opened at $408.24 on Friday. The company’s 50 day simple moving average is $394.96 and its 200-day simple moving average is $355.32. Arista Networks has a 1 year low of $210.69 and a 1 year high of $431.97. The company has a market capitalization of $128.57 billion, a price-to-earnings ratio of 49.07, a price-to-earnings-growth ratio of 3.28 and a beta of 1.08.

Shares of Arista Networks are scheduled to split before the market opens 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.

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

Insider Activity at Arista Networks

In related news, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 3,244 shares of the company’s stock, valued at $1,363,647.84. The trade was a 86.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jayshree Ullal sold 832 shares of Arista Networks stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $337.23, for a total value of $280,575.36. Following the completion of the transaction, the chief executive officer now owns 17,681 shares in the company, valued at approximately $5,962,563.63. The trade was a 4.49 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 75,771 shares of company stock worth $29,995,584. Insiders own 3.54% of the company’s stock.

Hedge Funds Weigh In On Arista Networks

Hedge funds have recently bought and sold shares of the company. GW Henssler & Associates Ltd. lifted its stake in shares of Arista Networks by 3.6% in the third quarter. GW Henssler & Associates Ltd. now owns 63,244 shares of the technology company’s stock valued at $24,274,000 after buying an additional 2,219 shares in the last quarter. Deepwater Asset Management LLC acquired a new position in Arista Networks during the 2nd quarter valued at about $15,084,000. Sumitomo Life Insurance Co. increased its holdings in Arista Networks by 69.8% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 9,028 shares of the technology company’s stock worth $3,465,000 after purchasing an additional 3,711 shares in the last quarter. Walkner Condon Financial Advisors LLC purchased a new stake in shares of Arista Networks in the third quarter worth approximately $2,318,000. Finally, Cetera Advisors LLC lifted its holdings in shares of Arista Networks by 185.8% in the first quarter. Cetera Advisors LLC now owns 17,032 shares of the technology company’s stock valued at $4,939,000 after purchasing an additional 11,073 shares in the last quarter. 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.