Arista Networks (NYSE:ANET) Raised to Neutral at Rosenblatt Securities

Rosenblatt Securities upgraded shares of Arista Networks (NYSE:ANET) from a sell rating to a neutral rating in a research report report published on Tuesday morning, MarketBeat.com reports. They currently have $85.00 price objective on the technology company’s stock, up from their previous price objective of $55.00.

Several other brokerages have also commented on ANET. JPMorgan Chase & Co. decreased their price target on Arista Networks from $140.00 to $110.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $145.00 price target on shares of Arista Networks in a research note on Wednesday, February 19th. Piper Sandler lowered their price objective on shares of Arista Networks from $108.00 to $76.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Morgan Stanley reduced their price target on shares of Arista Networks from $118.00 to $73.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Finally, UBS Group raised shares of Arista Networks from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $112.00 to $115.00 in a research note on Wednesday, March 5th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Arista Networks presently has an average rating of “Moderate Buy” and a consensus target price of $108.36.

Arista Networks Stock Up 6.8 %

Shares of NYSE:ANET opened at $87.86 on Tuesday. The company has a market cap of $110.31 billion, a price-to-earnings ratio of 39.57, a PEG ratio of 3.10 and a beta of 1.30. Arista Networks has a fifty-two week low of $59.43 and a fifty-two week high of $133.58. The firm’s 50-day simple moving average is $79.19 and its 200-day simple moving average is $97.80.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $1.90 billion. On average, research analysts forecast that Arista Networks will post 2.2 EPS for the current year.

Insider Activity

In other news, Director Kelly Bodnar Battles sold 1,492 shares of the company’s stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $68.49, for a total value of $102,187.08. Following the completion of the transaction, the director now directly owns 7,480 shares in the company, valued at approximately $512,305.20. This represents a 16.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $77.55, for a total transaction of $620,400.00. Following the completion of the transaction, the director now directly owns 139,784 shares of the company’s stock, valued at approximately $10,840,249.20. The trade was a 5.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 412,355 shares of company stock valued at $39,446,799. Company insiders own 3.54% of the company’s stock.

Institutional Trading of Arista Networks

A number of hedge funds and other institutional investors have recently made changes to their positions in ANET. Caitlin John LLC increased its position in shares of Arista Networks by 174.7% in the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock worth $26,000 after purchasing an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC increased its holdings in Arista Networks by 335.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock valued at $27,000 after buying an additional 191 shares during the last quarter. New Millennium Group LLC raised its stake in Arista Networks by 300.0% during the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after buying an additional 195 shares in the last quarter. Quarry LP lifted its holdings in Arista Networks by 381.5% during the 4th quarter. Quarry LP now owns 260 shares of the technology company’s stock worth $29,000 after buying an additional 206 shares during the last quarter. Finally, Dunhill Financial LLC increased its holdings in shares of Arista Networks by 415.7% in the 4th quarter. Dunhill Financial LLC now owns 263 shares of the technology company’s stock valued at $29,000 after acquiring an additional 212 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

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.