Arista Networks (NYSE:ANET) Price Target Raised to $126.00 at Barclays

Arista Networks (NYSE:ANET - Free Report) had its target price lifted by Barclays from $125.00 to $126.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the technology company's stock.

A number of other brokerages have also commented on ANET. StockNews.com lowered shares of Arista Networks from a "buy" rating to a "hold" rating in a report on Thursday, December 12th. Rosenblatt Securities reaffirmed a "sell" rating and set a $80.00 target price on shares of Arista Networks in a report on Tuesday. Needham & Company LLC reissued a "buy" rating and issued a $145.00 price target on shares of Arista Networks in a research note on Wednesday. UBS Group lifted their price objective on Arista Networks from $92.25 to $106.25 and gave the stock a "neutral" rating in a research note on Friday, November 8th. Finally, Morgan Stanley increased their target price on shares of Arista Networks from $102.50 to $118.00 and gave the company an "overweight" rating in a research report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $113.79.

Arista Networks Price Performance

ANET stock traded down $4.60 during midday trading on Wednesday, reaching $98.80. 7,788,902 shares of the stock were exchanged, compared to its average volume of 9,853,298. Arista Networks has a 52 week low of $60.08 and a 52 week high of $133.57. The company has a fifty day moving average price of $113.94 and a 200 day moving average price of $101.57. The stock has a market capitalization of $124.46 billion, a PE ratio of 44.46, a P/E/G ratio of 2.79 and a beta of 1.09.

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

Insider Activity at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the firm'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 value of $8,663,200.00. Following the completion of the sale, the senior vice president now owns 12,976 shares of the company's stock, valued at approximately $1,405,171.04. This trade represents a 86.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of the company's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $412.65, for a total value of $825,300.00. Following the transaction, the director now directly owns 42,946 shares in the company, 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. Insiders have sold 259,944 shares of company stock worth $30,214,186 in the last quarter. Company insiders own 3.54% of the company's stock.

Institutional Trading of Arista Networks

Several hedge funds have recently bought and sold shares of ANET. MidAtlantic Capital Management Inc. acquired a new position in shares of Arista Networks during the third quarter valued at about $44,000. HM Payson & Co. lifted its position 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 acquiring an additional 29 shares in the last quarter. True Wealth Design LLC boosted its stake in Arista Networks by 2,133.3% during the 3rd quarter. True Wealth Design LLC now owns 134 shares of the technology company's stock valued at $51,000 after purchasing an additional 128 shares during the last quarter. Anchor Investment Management LLC increased its holdings in Arista Networks by 35.0% during the 3rd quarter. Anchor Investment Management LLC now owns 135 shares of the technology company's stock worth $52,000 after purchasing an additional 35 shares in the last quarter. Finally, Transcendent Capital Group LLC increased its holdings in Arista Networks by 75.0% during the 3rd quarter. Transcendent Capital Group LLC now owns 175 shares of the technology company's stock worth $67,000 after purchasing an additional 75 shares in the last quarter. Institutional investors and hedge funds 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.