Arista Networks (NYSE:ANET) Price Target Raised to $425.00

Arista Networks (NYSE:ANET) had its price objective boosted by equities researchers at UBS Group from $369.00 to $425.00 in a report released on Friday,Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. UBS Group’s price objective would suggest a potential upside of 5.93% from the company’s current price.

A number of other equities research analysts have also issued reports on the company. Evercore ISI increased their target price on Arista Networks from $400.00 to $425.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Barclays upped their target price on shares of Arista Networks from $320.00 to $341.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. lifted their price target on shares of Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. KeyCorp upped their price objective on shares of Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Finally, Morgan Stanley lifted their target price on Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $382.13.

Arista Networks Stock Down 6.9 %

Shares of ANET stock traded down $29.83 during mid-day trading on Friday, reaching $401.19. The company’s stock had a trading volume of 3,555,375 shares, compared to its average volume of 2,200,362. The firm has a market capitalization of $126.03 billion, a PE ratio of 52.04, a price-to-earnings-growth ratio of 3.48 and a beta of 1.08. The company’s 50 day simple moving average is $379.96 and its 200-day simple moving average is $342.48. Arista Networks has a 12-month low of $203.19 and a 12-month high of $431.97.

Arista Networks shares are going to split on Wednesday, December 4th. The 4-1 split was announced on Thursday, November 7th. The newly minted shares will be payable to shareholders after the market closes on Tuesday, December 3rd.

Insider Buying and Selling

In related news, CEO Jayshree Ullal sold 17,752 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $354.29, for a total value of $6,289,356.08. Following the sale, the chief executive officer now owns 17,681 shares of the company’s stock, valued at $6,264,201.49. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Jayshree Ullal sold 17,752 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $354.29, for a total value of $6,289,356.08. Following the completion of the transaction, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at $6,264,201.49. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kelly Bodnar Battles sold 373 shares of Arista Networks stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $396.48, for a total value of $147,887.04. Following the sale, the director now directly owns 2,192 shares in the company, valued at $869,084.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 58,346 shares of company stock worth $21,614,232 in the last three months. 3.54% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ANET. UniSuper Management Pty Ltd raised its position in Arista Networks by 20.3% in the first quarter. UniSuper Management Pty Ltd now owns 36,329 shares of the technology company’s stock worth $10,535,000 after acquiring an additional 6,133 shares in the last quarter. M&G Plc bought a new stake in shares of Arista Networks in the 1st quarter worth approximately $3,238,000. GW Henssler & Associates Ltd. lifted its stake in Arista Networks by 3.6% during the third quarter. GW Henssler & Associates Ltd. now owns 63,244 shares of the technology company’s stock valued at $24,274,000 after purchasing an additional 2,219 shares during the last quarter. Deepwater Asset Management LLC bought a new stake in Arista Networks during the second quarter worth approximately $15,084,000. Finally, Sumitomo Life Insurance Co. boosted its holdings in Arista Networks by 69.8% during the third quarter. Sumitomo Life Insurance Co. now owns 9,028 shares of the technology company’s stock worth $3,465,000 after buying an additional 3,711 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

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.