Arista Networks (NYSE:ANET) Given Sell Rating at Rosenblatt Securities

Arista Networks (NYSE:ANET)‘s stock had its “sell” rating restated by investment analysts at Rosenblatt Securities in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $80.00 target price on the technology company’s stock. Rosenblatt Securities’ target price points to a potential downside of 22.94% from the stock’s current price.

A number of other equities analysts have also issued reports on ANET. StockNews.com lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Piper Sandler reiterated a “neutral” rating and set a $105.25 target price (up from $86.25) on shares of Arista Networks in a research report on Friday, November 8th. Barclays reduced their target price on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. Morgan Stanley boosted their price target on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, UBS Group boosted their price target on shares of Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Arista Networks presently has an average rating of “Moderate Buy” and a consensus target price of $113.79.

Arista Networks Stock Down 6.5 %

NYSE:ANET opened at $103.82 on Tuesday. The firm has a market cap of $130.79 billion, a PE ratio of 49.91, a price-to-earnings-growth ratio of 2.87 and a beta of 1.09. Arista Networks has a 12 month low of $60.08 and a 12 month high of $133.57. The company’s 50-day moving average price is $114.08 and its two-hundred day moving average price is $101.54.

Arista Networks (NYSE:ANET) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. On average, research analysts expect that Arista Networks will post 1.97 EPS for the current fiscal year.

Insider Buying and Selling at Arista Networks

In other news, Director Kelly Bodnar Battles sold 1,488 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $107.13, for a total value of $159,409.44. Following the completion of the transaction, the director now owns 8,128 shares in the company, valued at $870,752.64. This represents a 15.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were 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 of the company’s stock, valued at $17,721,666.90. This trade represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 259,944 shares of company stock valued at $30,214,186. Corporate insiders own 3.54% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ANET. Capital Investment Advisors LLC boosted its holdings in shares of Arista Networks by 25.0% in the third quarter. Capital Investment Advisors LLC now owns 795 shares of the technology company’s stock valued at $305,000 after buying an additional 159 shares during the period. Cyndeo Wealth Partners LLC acquired a new position in shares of Arista Networks in the third quarter valued at approximately $291,000. OLD National Bancorp IN boosted its holdings in shares of Arista Networks by 6.0% in the third quarter. OLD National Bancorp IN now owns 1,087 shares of the technology company’s stock valued at $417,000 after buying an additional 62 shares during the period. Trilogy Capital Inc. boosted its holdings in shares of Arista Networks by 23.4% in the third quarter. Trilogy Capital Inc. now owns 4,779 shares of the technology company’s stock valued at $1,834,000 after buying an additional 906 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Arista Networks by 2.0% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 3,548 shares of the technology company’s stock valued at $1,362,000 after buying an additional 68 shares during the period. Institutional investors and hedge funds 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.