Arista Networks, Inc. (NYSE:ANET) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Arista Networks, Inc. (NYSE:ANET) have been given a consensus rating of “Moderate Buy” by the nineteen ratings firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $395.19.

A number of research analysts have recently weighed in on the company. UBS Group raised their price objective on Arista Networks from $369.00 to $425.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Citigroup raised their price target on Arista Networks from $385.00 to $460.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Wells Fargo & Company upped their price objective on Arista Networks from $390.00 to $460.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Evercore ISI raised their target price on shares of Arista Networks from $400.00 to $425.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $375.00 price target on shares of Arista Networks in a research note on Wednesday, July 31st.

Arista Networks Stock Performance

Shares of Arista Networks stock opened at $406.48 on Friday. The stock’s fifty day moving average is $393.20 and its 200 day moving average is $353.50. Arista Networks has a one year low of $210.69 and a one year high of $431.97. The stock has a market cap of $128.02 billion, a P/E ratio of 48.86, a P/E/G ratio of 3.26 and a beta of 1.08.

Arista Networks’s stock is scheduled to split on Wednesday, December 4th. The 4-1 split was announced on Thursday, November 7th. The newly minted shares will be issued to shareholders after the closing bell on Tuesday, December 3rd.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Thursday, November 7th. The technology company reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.32. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same period last year, the firm earned $1.63 earnings per share. The business’s quarterly revenue was up 20.0% on a year-over-year basis. Analysts predict that Arista Networks will post 7.75 EPS for the current year.

Insider Transactions at Arista Networks

In other news, Director Kelly Bodnar Battles sold 372 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $356.74, for a total value of $132,707.28. Following the sale, the director now directly owns 2,565 shares in the company, valued at approximately $915,038.10. This trade represents a 12.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $382.52, for a total transaction of $765,040.00. Following the transaction, the director now owns 46,946 shares of the company’s stock, valued at approximately $17,957,783.92. This trade represents a 4.09 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,019 shares of company stock valued at $22,819,548. Company insiders own 3.54% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Anchor Investment Management LLC increased its stake in Arista Networks by 35.0% during the 3rd quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock valued at $52,000 after purchasing an additional 35 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Arista Networks in the 3rd quarter valued at $1,752,000. Second Line Capital LLC purchased a new position in Arista Networks in the 3rd quarter worth $210,000. TCW Group Inc. lifted its position in Arista Networks by 0.7% during the 3rd quarter. TCW Group Inc. now owns 212,808 shares of the technology company’s stock worth $81,680,000 after acquiring an additional 1,576 shares during the period. Finally, Rehmann Capital Advisory Group grew its stake in Arista Networks by 3.8% during the 3rd quarter. Rehmann Capital Advisory Group now owns 1,177 shares of the technology company’s stock valued at $453,000 after purchasing an additional 43 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.