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

Arista Networks, Inc. (NYSE:ANET) has earned an average rating of “Moderate Buy” from the seventeen research firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $105.83.

A number of research firms have weighed in on ANET. StockNews.com downgraded Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Barclays decreased their price objective on Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. UBS Group raised their price objective on Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research note on Friday, November 8th. The Goldman Sachs Group raised their price objective on Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Finally, Rosenblatt Securities raised their price objective on Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a research note on Friday, November 8th.

Insider Buying and Selling

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $412.65, for a total transaction of $825,300.00. Following the completion of the transaction, the director now owns 42,946 shares in the company, valued at $17,721,666.90. This trade represents a 4.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $115.61, for a total value of $9,248,800.00. Following the transaction, the senior vice president now owns 12,976 shares of the company’s stock, valued at $1,500,155.36. This represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 335,832 shares of company stock worth $37,787,297. 3.54% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Arista Networks

Several institutional investors have recently modified their holdings of ANET. Signature Estate & Investment Advisors LLC bought a new stake in shares of Arista Networks during the 4th quarter worth approximately $1,572,000. Zions Bancorporation N.A. lifted its stake in shares of Arista Networks by 300.0% during the 4th quarter. Zions Bancorporation N.A. now owns 1,668 shares of the technology company’s stock worth $184,000 after acquiring an additional 1,251 shares during the last quarter. TIAA Trust National Association lifted its stake in shares of Arista Networks by 302.5% during the 4th quarter. TIAA Trust National Association now owns 168,064 shares of the technology company’s stock worth $18,576,000 after acquiring an additional 126,309 shares during the last quarter. FineMark National Bank & Trust lifted its stake in shares of Arista Networks by 300.0% during the 4th quarter. FineMark National Bank & Trust now owns 12,120 shares of the technology company’s stock worth $1,340,000 after acquiring an additional 9,090 shares during the last quarter. Finally, Ashton Thomas Securities LLC lifted its stake in shares of Arista Networks by 308.2% during the 4th quarter. Ashton Thomas Securities LLC now owns 12,216 shares of the technology company’s stock worth $1,350,000 after acquiring an additional 9,223 shares during the last quarter. 82.47% of the stock is owned by institutional investors.

Arista Networks Stock Performance

ANET stock opened at $116.82 on Friday. Arista Networks has a fifty-two week low of $60.08 and a fifty-two week high of $133.57. The business’s 50-day moving average is $113.57 and its two-hundred day moving average is $100.33. The company has a market cap of $147.16 billion, a price-to-earnings ratio of 56.16, a P/E/G ratio of 3.10 and a beta of 1.09.

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.