Arista Networks (NYSE:ANET) Given “Neutral” Rating at Piper Sandler

Piper Sandler reissued their neutral rating on shares of Arista Networks (NYSE:ANET) in a research note issued to investors on Friday,Benzinga reports. Piper Sandler currently has a $421.00 target price on the technology company’s stock, up from their previous target price of $345.00.

ANET has been the subject of a number of other reports. Evercore ISI increased their price target on Arista Networks from $400.00 to $425.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. JPMorgan Chase & Co. raised their target price on Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Barclays boosted their price target on shares of Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. UBS Group raised their price objective on shares of Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Finally, Wells Fargo & Company boosted their target price on shares of Arista Networks from $390.00 to $460.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $395.19.

Arista Networks Stock Performance

Shares of NYSE:ANET traded down $30.57 during trading on Friday, reaching $400.45. The company had a trading volume of 6,328,359 shares, compared to its average volume of 2,213,104. The firm’s fifty day moving average is $382.60 and its 200 day moving average is $344.17. The firm has a market capitalization of $125.80 billion, a PE ratio of 48.13, a price-to-earnings-growth ratio of 3.48 and a beta of 1.08. Arista Networks has a twelve month low of $203.19 and a twelve month high of $431.97.

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

Insider Buying and Selling at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $420.36, for a total value of $8,407,200.00. Following the transaction, the senior vice president now owns 3,244 shares in the company, valued at approximately $1,363,647.84. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Jayshree Ullal sold 17,752 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $354.29, for a total transaction of $6,289,356.08. Following the transaction, the chief executive officer now owns 17,681 shares of the company’s stock, valued at approximately $6,264,201.49. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $420.36, for a total transaction of $8,407,200.00. Following the completion of the sale, the senior vice president now owns 3,244 shares of the company’s stock, valued at $1,363,647.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 78,346 shares of company stock valued at $30,021,432 in the last 90 days. 3.54% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. GQG Partners LLC bought a new position in shares of Arista Networks in the first quarter valued at approximately $881,848,000. Legal & General Group Plc raised its holdings in Arista Networks by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 2,195,733 shares of the technology company’s stock worth $769,560,000 after acquiring an additional 20,278 shares during the period. Swedbank AB acquired a new position in Arista Networks during the 1st quarter worth $521,767,000. Ameriprise Financial Inc. boosted its holdings in Arista Networks by 97.2% during the second quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company’s stock valued at $628,966,000 after acquiring an additional 884,703 shares during the period. Finally, Jennison Associates LLC grew its position in shares of Arista Networks by 28.7% in the third quarter. Jennison Associates LLC now owns 1,136,233 shares of the technology company’s stock valued at $436,109,000 after purchasing an additional 253,513 shares during the last quarter. 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.