Arista Networks (NYSE:ANET) Stock Price Expected to Rise, Barclays Analyst Says

Arista Networks (NYSE:ANET) had its target price increased by analysts at Barclays from $341.00 to $495.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. Barclays‘s target price indicates a potential upside of 23.70% from the company’s current price.

A number of other analysts have also recently commented on the company. UBS Group lifted their price target on Arista Networks from $369.00 to $425.00 and gave the stock a “neutral” rating in a research report on Friday. KeyCorp lifted their target price on Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. JPMorgan Chase & Co. increased their price target on shares of Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Citigroup lifted their price objective on shares of Arista Networks from $385.00 to $460.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $375.00 price objective on shares of Arista Networks in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $391.75.

Arista Networks Stock Down 7.2 %

Shares of Arista Networks stock traded down $30.87 during midday trading on Friday, hitting $400.15. The company had a trading volume of 4,316,262 shares, compared to its average volume of 2,203,868. The stock has a market cap of $125.71 billion, a price-to-earnings ratio of 51.85, a PEG ratio of 3.48 and a beta of 1.08. Arista Networks has a 12-month low of $203.19 and a 12-month high of $431.97. The company has a fifty day simple moving average of $379.96 and a 200 day simple moving average of $342.48.

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

Insider Buying and Selling

In other Arista Networks news, CEO Jayshree Ullal sold 17,752 shares of Arista Networks stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $354.29, for a total transaction of $6,289,356.08. Following the completion of the sale, the chief executive officer now directly owns 17,681 shares in the company, valued at $6,264,201.49. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Arista Networks news, Director Kelly Bodnar Battles sold 372 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $915,038.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jayshree Ullal sold 17,752 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $354.29, for a total transaction of $6,289,356.08. Following the completion of the transaction, the chief executive officer now owns 17,681 shares in the company, valued at $6,264,201.49. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 58,346 shares of company stock worth $21,614,232. Company insiders own 3.54% of the company’s stock.

Institutional Investors Weigh In On Arista Networks

Large investors have recently modified their holdings of the company. GQG Partners LLC purchased a new stake in shares of Arista Networks during the first quarter worth approximately $881,848,000. Legal & General Group Plc boosted its holdings in shares of Arista Networks by 0.9% in the second quarter. Legal & General Group Plc now owns 2,195,733 shares of the technology company’s stock valued at $769,560,000 after acquiring an additional 20,278 shares in the last quarter. Swedbank AB purchased a new position in Arista Networks during the first quarter worth about $521,767,000. Ameriprise Financial Inc. lifted its position in Arista Networks by 97.2% in the second quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company’s stock valued at $628,966,000 after purchasing an additional 884,703 shares during the period. Finally, TD Asset Management Inc increased its position in Arista Networks by 18.7% during the 1st quarter. TD Asset Management Inc now owns 943,694 shares of the technology company’s stock worth $273,652,000 after purchasing an additional 148,759 shares during the period. 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.