Arista Networks (NYSE:ANET) Price Target Raised to $125.00 at Wells Fargo & Company

Arista Networks (NYSE:ANET - Free Report) had its target price upped by Wells Fargo & Company from $115.00 to $125.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the technology company's stock.

Several other research analysts also recently commented on ANET. Barclays increased their price objective on Arista Networks from $125.00 to $126.00 and gave the company an "overweight" rating in a research note on Wednesday. The Goldman Sachs Group upped their target price on Arista Networks from $135.00 to $145.00 and gave the company a "buy" rating in a report on Wednesday. Needham & Company LLC restated a "buy" rating and issued a $145.00 target price on shares of Arista Networks in a report on Wednesday. Citigroup upped their target price on Arista Networks from $115.00 to $121.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Evercore ISI upped their target price on Arista Networks from $110.00 to $130.00 and gave the company an "outperform" rating in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Arista Networks has a consensus rating of "Moderate Buy" and a consensus price target of $113.79.

Arista Networks Price Performance

NYSE ANET traded down $5.10 during mid-day trading on Wednesday, hitting $98.31. The stock had a trading volume of 13,984,341 shares, compared to its average volume of 10,062,921. The firm's 50 day moving average is $113.94 and its 200 day moving average is $101.57. Arista Networks has a twelve month low of $60.08 and a twelve month high of $133.57. The stock has a market capitalization of $123.84 billion, a price-to-earnings ratio of 44.28, a PEG ratio of 2.79 and a beta of 1.09.

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

Insider Transactions at Arista Networks

In related news, SVP Kenneth Duda sold 80,000 shares of the firm's stock in a transaction dated 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 completion of the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at $1,405,171.04. This trade represents a 86.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kelly Bodnar Battles sold 1,488 shares of the firm's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $107.13, for a total value of $159,409.44. Following the transaction, the director now owns 8,128 shares of the company's stock, valued at $870,752.64. This trade represents a 15.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 260,056 shares of company stock worth $30,225,623. 3.54% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Arista Networks

A number of hedge funds and other institutional investors have recently bought and sold shares of ANET. OLD National Bancorp IN raised its position in Arista Networks by 6.0% in the 3rd quarter. OLD National Bancorp IN now owns 1,087 shares of the technology company's stock valued at $417,000 after purchasing an additional 62 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in Arista Networks by 2.0% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 3,548 shares of the technology company's stock valued at $1,362,000 after purchasing an additional 68 shares in the last quarter. Raleigh Capital Management Inc. raised its position in Arista Networks by 16.6% in the 3rd quarter. Raleigh Capital Management Inc. now owns 540 shares of the technology company's stock valued at $207,000 after purchasing an additional 77 shares in the last quarter. Foundations Investment Advisors LLC raised its position in Arista Networks by 5.0% in the 3rd quarter. Foundations Investment Advisors LLC now owns 653 shares of the technology company's stock valued at $251,000 after purchasing an additional 31 shares in the last quarter. Finally, Vicus Capital acquired a new stake in Arista Networks in the 3rd quarter valued at about $211,000. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

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.