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

Arista Networks, Inc. (NYSE:ANET) has been assigned a consensus rating of “Moderate Buy” from the nineteen analysts that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $373.88.

ANET has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upped 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. Needham & Company LLC reiterated a “buy” rating and set a $375.00 price target on shares of Arista Networks in a research report on Wednesday, July 31st. Citigroup upped their price target on Arista Networks from $385.00 to $460.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. UBS Group raised their price objective on Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Finally, Evercore ISI lifted their target price on shares of Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st.

Arista Networks Price Performance

Arista Networks stock opened at $405.28 on Wednesday. The stock’s 50 day moving average price is $378.33 and its 200 day moving average price is $341.91. The company has a market cap of $127.32 billion, a PE ratio of 52.57, a price-to-earnings-growth ratio of 3.47 and a beta of 1.08. Arista Networks has a 1-year low of $203.19 and a 1-year high of $422.73.

Insider Buying and Selling

In other news, CEO Jayshree Ullal sold 17,752 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $6,264,201.49. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Kelly Bodnar Battles sold 373 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was 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. 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 available through this hyperlink. Also, CEO Jayshree Ullal sold 17,752 shares of Arista Networks stock in a transaction on 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 directly owns 17,681 shares in the company, valued at $6,264,201.49. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 57,514 shares of company stock worth $21,283,604 in the last three months. 3.54% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ANET. GQG Partners LLC acquired a new position in Arista Networks during the 1st quarter valued at about $881,848,000. Swedbank AB acquired a new position in shares of Arista Networks during the first quarter valued at approximately $521,767,000. Ameriprise Financial Inc. raised its holdings in Arista Networks by 97.2% during the second quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company’s stock worth $628,966,000 after purchasing an additional 884,703 shares in the last quarter. International Assets Investment Management LLC lifted its position in Arista Networks by 39,841.1% in the third quarter. International Assets Investment Management LLC now owns 875,110 shares of the technology company’s stock worth $3,358,850,000 after purchasing an additional 872,919 shares during the period. Finally, 1832 Asset Management L.P. increased its position in shares of Arista Networks by 4,160.9% during the 2nd quarter. 1832 Asset Management L.P. now owns 515,700 shares of the technology company’s stock valued at $180,743,000 after purchasing an additional 503,597 shares during the period. 82.47% of the stock is owned by institutional investors and hedge funds.

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.