Rosenblatt Securities Reiterates “Sell” Rating for Arista Networks (NYSE:ANET)

Rosenblatt Securities reissued their sell rating on shares of Arista Networks (NYSE:ANET) in a research report report published on Tuesday morning,Benzinga reports. They currently have a $80.00 price target on the technology company’s stock.

A number of other research analysts also recently commented on ANET. UBS Group boosted their target price on Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a research note on Friday, November 8th. Wells Fargo & Company boosted their price target on Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group raised their price objective on shares of Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, January 17th. StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Finally, Evercore ISI increased their price target on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Arista Networks presently has a consensus rating of “Moderate Buy” and an average target price of $113.79.

Arista Networks Stock Performance

ANET stock opened at $103.47 on Tuesday. The firm has a 50 day simple moving average of $114.01 and a 200 day simple moving average of $101.55. Arista Networks has a 52 week low of $60.08 and a 52 week high of $133.57. The stock has a market cap of $130.35 billion, a P/E ratio of 46.61, a P/E/G ratio of 2.98 and a beta of 1.09.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 31.22%. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. Sell-side analysts predict that Arista Networks will post 2.18 EPS for the current year.

Insider Transactions at Arista Networks

In other Arista Networks news, Director Kelly Bodnar Battles sold 1,488 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 8,128 shares in the company, valued at $870,752.64. This trade represents a 15.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the transaction, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at $1,405,171.04. This represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 259,944 shares of company stock worth $30,214,186. Company insiders own 3.54% of the company’s stock.

Institutional Investors Weigh In On Arista Networks

A number of institutional investors have recently added to or reduced their stakes in ANET. Zions Bancorporation N.A. grew its holdings in shares of Arista Networks by 6.9% during the 3rd quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock worth $160,000 after purchasing an additional 27 shares in the last quarter. Intellectus Partners LLC raised its stake in shares of Arista Networks by 1.4% in the third quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock valued at $740,000 after purchasing an additional 27 shares in the last quarter. Altman Advisors Inc. lifted its position in 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 purchasing an additional 28 shares during the period. HM Payson & Co. boosted its stake in Arista Networks by 28.2% during the third quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock worth $51,000 after buying an additional 29 shares in the last quarter. Finally, Beacon Financial Advisory LLC increased its holdings in Arista Networks by 4.9% in the 3rd quarter. Beacon Financial Advisory LLC now owns 640 shares of the technology company’s stock valued at $246,000 after buying an additional 30 shares during the period. 82.47% of the stock is owned by institutional investors and hedge funds.

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.