Arista Networks (NYSE:ANET) Given New $425.00 Price Target at UBS Group

Arista Networks (NYSE:ANET) had its price objective lifted by UBS Group from $369.00 to $425.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a neutral rating on the technology company’s stock.

Other equities analysts have also recently issued reports about the company. Evercore ISI upped their price objective on Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Piper Sandler reaffirmed a “neutral” rating and issued a $421.00 target price (up previously from $345.00) on shares of Arista Networks in a research note on Friday. Morgan Stanley lifted their price target on shares of Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a research note on Thursday, July 18th. KeyCorp upped their price objective on shares of Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Finally, Barclays boosted their price target on shares of Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $395.19.

Arista Networks Trading Down 7.1 %

Shares of Arista Networks stock traded down $30.57 on Friday, hitting $400.45. 6,328,359 shares of the company traded hands, compared to its average volume of 2,213,104. Arista Networks has a 12-month low of $203.19 and a 12-month high of $431.97. The company has a market cap of $125.80 billion, a P/E ratio of 48.13, a P/E/G ratio of 3.48 and a beta of 1.08. The firm’s 50-day simple moving average is $382.60 and its 200 day simple moving average is $344.17.

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

Insider Buying and Selling at Arista Networks

In other news, CEO Jayshree Ullal sold 17,752 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $354.29, for a total value of $6,289,356.08. Following the completion of the transaction, the chief executive officer now owns 17,681 shares in the company, valued at $6,264,201.49. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $420.36, for a total value of $8,407,200.00. Following the sale, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at $1,363,647.84. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jayshree Ullal sold 17,752 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $354.29, for a total value of $6,289,356.08. Following the completion of the sale, the chief executive officer now 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. In the last ninety days, insiders have sold 78,346 shares of company stock valued at $30,021,432. 3.54% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Arista Networks

Institutional investors have recently modified their holdings of the stock. LPL Financial LLC raised its position in shares of Arista Networks by 2.0% in the 3rd quarter. LPL Financial LLC now owns 250,416 shares of the technology company’s stock worth $96,114,000 after purchasing an additional 4,952 shares during the last quarter. Citizens Financial Group Inc. RI raised its holdings in Arista Networks by 67.3% in the third quarter. Citizens Financial Group Inc. RI now owns 2,920 shares of the technology company’s stock worth $1,121,000 after buying an additional 1,175 shares during the last quarter. Moran Wealth Management LLC lifted its stake in shares of Arista Networks by 0.5% in the third quarter. Moran Wealth Management LLC now owns 21,280 shares of the technology company’s stock worth $8,168,000 after buying an additional 113 shares in the last quarter. Altman Advisors Inc. lifted its stake in shares of Arista Networks by 0.5% in the third quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock worth $2,250,000 after buying an additional 28 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its position in shares of Arista Networks by 20.7% during the third quarter. First Horizon Advisors Inc. now owns 963 shares of the technology company’s stock valued at $370,000 after acquiring an additional 165 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

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.