Arista Networks (NYSE:ANET) Stock Price Expected to Rise, UBS Group Analyst Says

Arista Networks (NYSE:ANET - Free Report) had its price target upped by UBS Group from $106.00 to $112.00 in a report issued on Wednesday,Benzinga reports. UBS Group currently has a neutral rating on the technology company's stock.

A number of other equities research analysts have also recently weighed in on ANET. Needham & Company LLC reiterated a "buy" rating and issued a $145.00 price objective on shares of Arista Networks in a research note on Wednesday. Barclays upped their price target on shares of Arista Networks from $125.00 to $126.00 and gave the company an "overweight" rating in a research report on Wednesday. Rosenblatt Securities reissued a "sell" rating and set a $80.00 price objective on shares of Arista Networks in a research report on Tuesday. The Goldman Sachs Group upped their target price on shares of Arista Networks from $135.00 to $145.00 and gave the company a "buy" rating in a report on Wednesday. Finally, StockNews.com downgraded shares of Arista Networks from a "buy" rating to a "hold" rating in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, Arista Networks currently has an average rating of "Moderate Buy" and an average target price of $113.79.

Arista Networks Stock Down 4.4 %

Arista Networks stock traded down $4.55 during midday trading on Wednesday, reaching $98.85. The company's stock had a trading volume of 7,788,902 shares, compared to its average volume of 9,853,298. Arista Networks has a fifty-two week low of $60.08 and a fifty-two week high of $133.57. The company has a market cap of $124.53 billion, a P/E ratio of 44.46, a P/E/G ratio of 2.79 and a beta of 1.09. The business has a 50-day simple moving average of $113.94 and a 200-day simple moving average of $101.57.

Arista Networks (NYSE:ANET - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The company had revenue of $1.93 billion for the quarter, compared to analysts' expectations of $1.90 billion. As a group, equities analysts forecast that Arista Networks will post 2.18 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Kenneth Duda sold 80,000 shares of the business's stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the sale, the senior vice president now owns 12,976 shares of the company's stock, valued at $1,405,171.04. The trade was a 86.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $412.65, for a total value of $825,300.00. Following the completion of the transaction, the director now directly owns 42,946 shares of the company's stock, valued at $17,721,666.90. The trade was a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 259,944 shares of company stock worth $30,214,186. 3.54% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Arista Networks

Large investors have recently added to or reduced their stakes in the business. MidAtlantic Capital Management Inc. purchased a new stake in shares of Arista Networks in the third quarter valued at about $44,000. HM Payson & Co. lifted its stake in Arista Networks by 28.2% in the 3rd quarter. HM Payson & Co. now owns 132 shares of the technology company's stock valued at $51,000 after buying an additional 29 shares in the last quarter. True Wealth Design LLC increased its position in Arista Networks by 2,133.3% during the third quarter. True Wealth Design LLC now owns 134 shares of the technology company's stock worth $51,000 after buying an additional 128 shares in the last quarter. Anchor Investment Management LLC increased its position in Arista Networks by 35.0% during the third quarter. Anchor Investment Management LLC now owns 135 shares of the technology company's stock worth $52,000 after buying an additional 35 shares in the last quarter. Finally, Transcendent Capital Group LLC lifted its position 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 valued at $67,000 after acquiring an additional 75 shares in the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

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.