Arista Networks (NYSE:ANET) Price Target Raised to $126.00

Arista Networks (NYSE:ANET) had its target price lifted by Barclays from $125.00 to $126.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

Several other research firms have also commented on ANET. UBS Group boosted their price objective on shares of Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Morgan Stanley upped their price target on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Rosenblatt Securities restated a “sell” rating and set a $80.00 target price on shares of Arista Networks in a research note on Tuesday. Evercore ISI increased their price target on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Finally, Citigroup boosted their price target on Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and a consensus target price of $113.79.

Arista Networks Stock Down 4.9 %

Shares of NYSE:ANET opened at $98.31 on Wednesday. The firm has a 50 day moving average of $113.94 and a 200 day moving average of $101.57. The company has a market capitalization of $123.84 billion, a price-to-earnings ratio of 44.28, a price-to-earnings-growth ratio of 2.79 and a beta of 1.09. Arista Networks has a 52 week low of $60.08 and a 52 week high of $133.57.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. On average, sell-side analysts expect that Arista Networks will post 2.18 EPS for the current year.

Insider Buying and Selling at Arista Networks

In other news, insider John F. Mccool sold 288 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $108.70, for a total value of $31,305.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kelly Bodnar Battles sold 1,488 shares of Arista Networks stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $107.13, for a total value of $159,409.44. Following the transaction, the director now owns 8,128 shares of the company’s stock, valued at approximately $870,752.64. This represents a 15.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 260,056 shares of company stock worth $30,225,623. Company insiders own 3.54% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ascent Group LLC grew its position in shares of Arista Networks by 301.4% during the 4th quarter. Ascent Group LLC now owns 103,166 shares of the technology company’s stock valued at $11,403,000 after acquiring an additional 77,462 shares during the period. Putney Financial Group LLC purchased a new position in Arista Networks during the fourth quarter worth approximately $1,595,000. Mackenzie Financial Corp grew its holdings in Arista Networks by 610.0% in the fourth quarter. Mackenzie Financial Corp now owns 185,792 shares of the technology company’s stock valued at $20,536,000 after purchasing an additional 159,623 shares during the period. Toronto Dominion Bank increased its position in shares of Arista Networks by 303.7% in the fourth quarter. Toronto Dominion Bank now owns 564,027 shares of the technology company’s stock valued at $62,342,000 after buying an additional 424,315 shares in the last quarter. Finally, DigitalBridge Group Inc. raised its stake in shares of Arista Networks by 314.1% during the 4th quarter. DigitalBridge Group Inc. now owns 296,410 shares of the technology company’s stock worth $32,762,000 after buying an additional 224,834 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

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.