JPMorgan Chase & Co. Has Lowered Expectations for Arista Networks (NYSE:ANET) Stock Price

Arista Networks (NYSE:ANET) had its price objective dropped by equities research analysts at JPMorgan Chase & Co. from $140.00 to $110.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 54.70% from the stock’s previous close.

Several other research analysts also recently commented on ANET. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. Needham & Company LLC reissued a “buy” rating and issued a $145.00 price objective on shares of Arista Networks in a research note on Wednesday, February 19th. Rosenblatt Securities reaffirmed a “sell” rating and issued a $80.00 target price on shares of Arista Networks in a report on Tuesday, February 18th. The Goldman Sachs Group restated a “buy” rating on shares of Arista Networks in a research report on Monday, March 3rd. Finally, Citigroup lowered their price target on Arista Networks from $121.00 to $92.00 and set a “buy” rating on the stock in a report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.07.

Arista Networks Trading Down 1.1 %

ANET opened at $71.11 on Thursday. Arista Networks has a 12-month low of $59.43 and a 12-month high of $133.58. The company has a market cap of $89.67 billion, a price-to-earnings ratio of 32.03, a PEG ratio of 3.10 and a beta of 1.30. The company’s 50 day moving average is $84.23 and its 200 day moving average is $99.27.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data 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 29.91%. The firm had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. As a group, analysts predict that Arista Networks will post 2.2 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Jayshree Ullal sold 138,351 shares of Arista Networks stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $93.88, for a total value of $12,988,391.88. Following the completion of the transaction, the chief executive officer now owns 92,641 shares in the company, valued at approximately $8,697,137.08. This trade represents a 59.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $77.55, for a total value of $620,400.00. Following the sale, the director now owns 139,784 shares in the company, valued at approximately $10,840,249.20. This trade represents a 5.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 411,031 shares of company stock valued at $39,364,943 in the last three months. Corporate insiders own 3.54% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Caitlin John LLC boosted its stake in shares of Arista Networks by 174.7% during the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock worth $26,000 after purchasing an additional 152 shares during the period. Capital Advisors Ltd. LLC boosted its position in shares of Arista Networks by 335.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock valued at $27,000 after buying an additional 191 shares during the period. New Millennium Group LLC grew its stake in shares of Arista Networks by 300.0% during the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after buying an additional 195 shares during the last quarter. Quarry LP raised its holdings in shares of Arista Networks by 381.5% in the fourth quarter. Quarry LP now owns 260 shares of the technology company’s stock worth $29,000 after buying an additional 206 shares during the period. Finally, Dunhill Financial LLC lifted its stake in shares of Arista Networks by 415.7% during the 4th quarter. Dunhill Financial LLC now owns 263 shares of the technology company’s stock worth $29,000 after acquiring an additional 212 shares during 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.