Arista Networks (NYSE:ANET) Price Target Raised to $460.00

Arista Networks (NYSE:ANET) had its target price upped by Wells Fargo & Company from $390.00 to $460.00 in a research report released on Wednesday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the technology company’s stock.

ANET has been the topic of several other reports. Piper Sandler raised their price objective on Arista Networks from $302.00 to $345.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Jefferies Financial Group boosted their price target on shares of Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. UBS Group increased their price objective on shares of Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Needham & Company LLC restated a “buy” rating and issued a $375.00 target price on shares of Arista Networks in a research note on Wednesday, July 31st. Finally, Citigroup increased their price target on Arista Networks from $385.00 to $460.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Arista Networks currently has a consensus rating of “Moderate Buy” and a consensus target price of $373.88.

Arista Networks Price Performance

ANET opened at $394.23 on Wednesday. Arista Networks has a fifty-two week low of $203.19 and a fifty-two week high of $422.73. The firm has a market capitalization of $123.85 billion, a PE ratio of 51.13, a P/E/G ratio of 3.49 and a beta of 1.07. The company’s 50-day moving average is $376.13 and its 200 day moving average is $338.73.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, topping the consensus estimate of $1.72 by $0.38. The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.66 billion. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.41 earnings per share. As a group, analysts expect that Arista Networks will post 7.42 EPS for the current year.

Insider Transactions at Arista Networks

In related news, Director Kelly Bodnar Battles sold 373 shares of the stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $396.48, for a total transaction of $147,887.04. Following the sale, the director now owns 2,192 shares of the company’s stock, valued at approximately $869,084.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Arista Networks news, Director Kelly Bodnar Battles sold 373 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $396.48, for a total value of $147,887.04. Following the sale, the director now directly owns 2,192 shares in the company, valued at $869,084.16. This 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. Also, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $394.69, for a total transaction of $7,893,800.00. Following the transaction, the senior vice president now owns 3,244 shares of the company’s stock, valued at $1,280,374.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,522 shares of company stock valued at $20,099,338 over the last three months. Company insiders own 3.54% of the company’s stock.

Institutional Trading of Arista Networks

Large investors have recently modified their holdings of the business. UniSuper Management Pty Ltd raised its stake in Arista Networks by 20.3% in the first quarter. UniSuper Management Pty Ltd now owns 36,329 shares of the technology company’s stock valued at $10,535,000 after purchasing an additional 6,133 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of Arista Networks during the 1st quarter valued at $1,405,000. M&G Plc bought a new stake in shares of Arista Networks during the 1st quarter worth $3,238,000. Nordea Investment Management AB grew its position in Arista Networks by 32.5% in the first quarter. Nordea Investment Management AB now owns 26,799 shares of the technology company’s stock worth $7,810,000 after acquiring an additional 6,578 shares in the last quarter. Finally, GW Henssler & Associates Ltd. increased its stake in Arista Networks by 3.6% in the third quarter. GW Henssler & Associates Ltd. now owns 63,244 shares of the technology company’s stock valued at $24,274,000 after acquiring an additional 2,219 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

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.