Rosenblatt Securities Issues Positive Forecast for Arista Networks (NYSE:ANET) Stock Price

Arista Networks (NYSE:ANET) had its target price raised by investment analysts at Rosenblatt Securities from $265.00 to $320.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “sell” rating on the technology company’s stock. Rosenblatt Securities’ target price indicates a potential downside of 20.09% from the company’s previous close.

A number of other equities research analysts have also recently commented on ANET. Piper Sandler reissued a “neutral” rating and set a $421.00 price target (up from $345.00) on shares of Arista Networks in a report on Friday. Morgan Stanley lifted their target price on Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a report on Thursday, July 18th. Citigroup lifted their target price on Arista Networks from $385.00 to $460.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Wells Fargo & Company lifted their target price on Arista Networks from $390.00 to $460.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, UBS Group lifted their target price on Arista Networks from $369.00 to $425.00 and gave the stock a “neutral” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $395.19.

Arista Networks Trading Down 7.1 %

NYSE ANET traded down $30.57 on Friday, hitting $400.45. 6,320,272 shares of the company traded hands, compared to its average volume of 2,213,104. The company has a market capitalization of $125.80 billion, a price-to-earnings ratio of 51.94, a P/E/G ratio of 3.48 and a beta of 1.08. The business’s 50 day moving average price is $379.96 and its 200-day moving average price is $342.48. Arista Networks has a 52-week low of $203.19 and a 52-week high of $431.97.

Arista Networks shares are going to split on the morning of Wednesday, December 4th. The 4-1 split was announced on Thursday, November 7th. The newly issued shares will be distributed to shareholders after the market closes on Tuesday, December 3rd.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 1,689 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $321.28, for a total transaction of $542,641.92. Following the completion of the transaction, the senior vice president now owns 182,600 shares in the company, valued at $58,665,728. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Kenneth Duda sold 1,689 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $321.28, for a total value of $542,641.92. Following the completion of the sale, the senior vice president now owns 182,600 shares in the company, valued at approximately $58,665,728. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $382.52, for a total value of $765,040.00. Following the completion of the sale, the director now owns 46,946 shares of the company’s stock, valued at $17,957,783.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,346 shares of company stock worth $21,614,232 over the last 90 days. Company insiders own 3.54% of the company’s stock.

Institutional Trading of Arista Networks

A number of large investors have recently modified their holdings of ANET. Beacon Capital Management LLC lifted its holdings in Arista Networks by 500.0% during the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock worth $27,000 after buying an additional 65 shares during the period. LGT Financial Advisors LLC purchased a new stake in Arista Networks during the second quarter worth $27,000. Byrne Asset Management LLC purchased a new stake in Arista Networks during the second quarter worth $33,000. Sugarloaf Wealth Management LLC acquired a new position in shares of Arista Networks during the second quarter worth $35,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Arista Networks during the second quarter worth $35,000. 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.