Brokerages Set Arista Networks, Inc. (NYSE:ANET) Target Price at $369.50

Shares of Arista Networks, Inc. (NYSE:ANET) have been given a consensus recommendation of “Moderate Buy” by the nineteen research firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $373.88.

ANET has been the topic of several recent analyst reports. Piper Sandler raised their price objective on shares of Arista Networks from $302.00 to $345.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. KeyCorp upped their price objective on Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Evercore ISI lifted their target price on Arista Networks from $400.00 to $425.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Morgan Stanley upped their price target on Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a research note on Thursday, July 18th. Finally, Rosenblatt Securities lifted their price objective on shares of Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a research report on Wednesday, July 31st.

Arista Networks Trading Up 2.0 %

Arista Networks stock opened at $394.17 on Wednesday. Arista Networks has a 12-month low of $203.19 and a 12-month high of $422.73. The firm has a market capitalization of $123.83 billion, a price-to-earnings ratio of 51.12, a P/E/G ratio of 3.40 and a beta of 1.08. The firm has a 50 day moving average of $376.13 and a 200 day moving average of $339.82.

Insider Activity

In related news, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $394.69, for a total transaction of $7,893,800.00. Following the sale, the senior vice president now owns 3,244 shares in the company, valued at approximately $1,280,374.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $382.52, for a total value of $765,040.00. Following the sale, the director now directly owns 46,946 shares in the company, valued at approximately $17,957,783.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 value of $7,893,800.00. Following the transaction, the senior vice president now owns 3,244 shares of the company’s stock, valued at approximately $1,280,374.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,522 shares of company stock valued at $20,099,338 in the last ninety days. Insiders own 3.54% of the company’s stock.

Institutional Trading of Arista Networks

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Transcendent Capital Group LLC grew its holdings in shares of Arista Networks by 75.0% in the third quarter. Transcendent Capital Group LLC now owns 175 shares of the technology company’s stock worth $67,000 after purchasing an additional 75 shares during the last quarter. XML Financial LLC boosted its position in Arista Networks by 10.6% in the 3rd quarter. XML Financial LLC now owns 3,263 shares of the technology company’s stock valued at $1,252,000 after buying an additional 312 shares during the period. Atria Investments Inc grew its stake in Arista Networks by 15.0% in the 3rd quarter. Atria Investments Inc now owns 16,961 shares of the technology company’s stock worth $6,510,000 after acquiring an additional 2,218 shares in the last quarter. Objective Capital Management LLC purchased a new position in shares of Arista Networks during the third quarter worth approximately $392,000. Finally, Lindbrook Capital LLC raised its stake in shares of Arista Networks by 5.3% during the third quarter. Lindbrook Capital LLC now owns 3,720 shares of the technology company’s stock valued at $1,428,000 after acquiring an additional 187 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

About Arista Networks

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.