Arista Networks (NYSE:ANET) Rating Reiterated by Rosenblatt Securities

Arista Networks (NYSE:ANET)‘s stock had its “sell” rating reissued by stock analysts at Rosenblatt Securities in a report issued on Friday, Marketbeat Ratings reports. They presently have a $210.00 price target on the technology company’s stock. Rosenblatt Securities’ price target points to a potential downside of 22.57% from the stock’s previous close.

Several other brokerages also recently weighed in on ANET. Evercore ISI restated an “outperform” rating and set a $300.00 price objective on shares of Arista Networks in a research report on Wednesday, March 27th. Citigroup boosted their price objective on shares of Arista Networks from $220.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, December 14th. Melius Research raised shares of Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a research note on Monday, January 8th. Piper Sandler upped their price target on shares of Arista Networks from $254.00 to $268.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 13th. Finally, KeyCorp boosted their price objective on shares of Arista Networks from $232.00 to $287.00 and gave the stock an “overweight” rating in a research report on Thursday, January 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $275.59.

Arista Networks Price Performance

Shares of ANET opened at $271.22 on Friday. Arista Networks has a 1-year low of $131.68 and a 1-year high of $307.74. The stock has a market cap of $84.79 billion, a PE ratio of 41.28, a P/E/G ratio of 2.56 and a beta of 1.09. The firm has a 50-day simple moving average of $281.78 and a two-hundred day simple moving average of $242.41.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.38. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The business’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.25 earnings per share. As a group, sell-side analysts expect that Arista Networks will post 6.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Arista Networks

In other news, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $290.05, for a total transaction of $5,801,000.00. Following the transaction, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at $940,922.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Jayshree Ullal sold 4,042 shares of Arista Networks stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $299.99, for a total value of $1,212,559.58. Following the transaction, the chief executive officer now owns 1,628,532 shares of the company’s stock, valued at approximately $488,543,314.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $290.05, for a total value of $5,801,000.00. Following the completion of the transaction, the senior vice president now directly owns 3,244 shares in the company, valued at approximately $940,922.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 361,036 shares of company stock worth $102,813,921. 18.99% of the stock is owned by insiders.

Institutional Investors Weigh In On Arista Networks

A number of institutional investors have recently bought and sold shares of the business. AXQ Capital LP acquired a new stake in shares of Arista Networks during the 3rd quarter valued at about $791,000. Advisor Resource Council increased its position in shares of Arista Networks by 507.9% during the fourth quarter. Advisor Resource Council now owns 7,021 shares of the technology company’s stock valued at $1,653,000 after purchasing an additional 5,866 shares during the period. Bleakley Financial Group LLC increased its position in shares of Arista Networks by 4.6% during the fourth quarter. Bleakley Financial Group LLC now owns 4,445 shares of the technology company’s stock valued at $1,047,000 after purchasing an additional 194 shares during the period. Cambridge Trust Co. increased its position in shares of Arista Networks by 70.1% during the third quarter. Cambridge Trust Co. now owns 50,255 shares of the technology company’s stock valued at $9,243,000 after purchasing an additional 20,704 shares during the period. Finally, Banque Pictet & Cie SA boosted its stake in Arista Networks by 7.1% in the 3rd quarter. Banque Pictet & Cie SA now owns 5,617 shares of the technology company’s stock valued at $1,033,000 after buying an additional 374 shares in the last quarter. 82.47% of the stock is currently 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.