Rosenblatt Securities Issues Positive Forecast for Arista Networks (NYSE:ANET) Stock Price

Arista Networks (NYSE:ANET) had its target price upped by equities researchers at Rosenblatt Securities from $265.00 to $320.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “sell” rating on the technology company’s stock. Rosenblatt Securities’ price target would suggest a potential downside of 20.09% from the stock’s previous close.

ANET has been the topic of several other reports. Jefferies Financial Group upped their target price on Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Piper Sandler reissued a “neutral” rating and issued a $421.00 target price (up from $345.00) on shares of Arista Networks in a research report on Friday. Evercore ISI upped their target price on Arista Networks from $400.00 to $425.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Barclays upped their target price on Arista Networks from $341.00 to $495.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Wells Fargo & Company upped their target price on Arista Networks from $390.00 to $460.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and an average price target of $395.19.

Arista Networks Trading Down 7.1 %

Shares of ANET stock traded down $30.57 during trading hours on Friday, reaching $400.45. 6,320,272 shares of the company’s stock were exchanged, compared to its average volume of 2,213,104. The stock’s 50 day moving average is $379.96 and its 200-day moving average is $342.48. The company has a market cap of $125.80 billion, a price-to-earnings ratio of 51.94, a P/E/G ratio of 3.48 and a beta of 1.08. Arista Networks has a fifty-two week low of $203.19 and a fifty-two week high of $431.97.

Shares of Arista Networks are set to split on Wednesday, December 4th. The 4-1 split was announced on Thursday, November 7th. The newly minted shares will be issued to shareholders after the market closes on Tuesday, December 3rd.

Insider Transactions at Arista Networks

In other news, CEO Jayshree Ullal sold 832 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $397.39, for a total transaction of $330,628.48. Following the sale, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at $7,026,252.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $382.52, for a total value of $765,040.00. Following the transaction, the director now directly owns 46,946 shares of the company’s stock, valued at approximately $17,957,783.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jayshree Ullal sold 832 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $397.39, for a total transaction of $330,628.48. Following the completion of the transaction, the chief executive officer now directly owns 17,681 shares in the company, valued at $7,026,252.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 58,346 shares of company stock valued at $21,614,232 in the last ninety days. 3.54% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Beacon Capital Management LLC lifted its stake in Arista Networks by 500.0% in the 2nd quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after buying an additional 65 shares in the last quarter. LGT Financial Advisors LLC acquired a new stake in Arista Networks in the 2nd quarter valued at about $27,000. Byrne Asset Management LLC acquired a new stake in Arista Networks in the 2nd quarter valued at about $33,000. Sugarloaf Wealth Management LLC acquired a new stake in Arista Networks in the 2nd quarter valued at about $35,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Arista Networks in the 2nd quarter valued at about $35,000. 82.47% of the stock is owned by hedge funds and other institutional investors.

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.