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

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

Several other analysts also recently commented on ANET. StockNews.com downgraded shares of Arista Networks from a "buy" rating to a "hold" rating in a report on Thursday, December 12th. Wells Fargo & Company raised their target price on shares of Arista Networks from $97.50 to $115.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. Needham & Company LLC restated a "buy" rating and set a $145.00 target price on shares of Arista Networks in a report on Wednesday. Evercore ISI raised their target price on shares of Arista Networks from $110.00 to $130.00 and gave the stock an "outperform" rating in a report on Friday, January 17th. Finally, The Goldman Sachs Group lifted their price objective on shares of Arista Networks from $135.00 to $145.00 and gave the company a "buy" rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Arista Networks has an average rating of "Moderate Buy" and a consensus target price of $113.79.

Arista Networks Stock Down 2.3 %

Arista Networks stock traded down $2.37 during midday trading on Wednesday, hitting $101.55. 7,320,373 shares of the stock were exchanged, compared to its average volume of 9,808,059. The company has a fifty day simple moving average of $114.01 and a two-hundred day simple moving average of $101.55. Arista Networks has a 52 week low of $60.08 and a 52 week high of $133.57. The stock has a market capitalization of $127.93 billion, a PE ratio of 45.69, a P/E/G ratio of 2.98 and a beta of 1.09.

Arista Networks (NYSE:ANET - Get Free Report) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 31.22%. As a group, equities research analysts anticipate that Arista Networks will post 2.18 EPS for the current fiscal year.

Insider Buying and Selling

In other Arista Networks news, Director Kelly Bodnar Battles sold 1,488 shares of Arista Networks stock in a transaction on Friday, February 14th. The shares were sold at an average price of $107.13, for a total transaction of $159,409.44. Following the completion of the transaction, the director now directly owns 8,128 shares of the company's stock, valued at $870,752.64. The trade was a 15.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction 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 transaction, the senior vice president now directly 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 259,944 shares of company stock worth $30,214,186. Insiders own 3.54% of the company's stock.

Hedge Funds Weigh In On Arista Networks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Caitlin John LLC boosted its position in Arista Networks by 174.7% during the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company's stock worth $26,000 after purchasing an additional 152 shares during the period. Capital Advisors Ltd. LLC boosted its position in shares of Arista Networks by 335.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock valued at $27,000 after acquiring an additional 191 shares during the period. Cranbrook Wealth Management LLC grew its stake in shares of Arista Networks by 300.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company's stock valued at $29,000 after acquiring an additional 198 shares in the last quarter. Trust Co. of Vermont grew its stake in shares of Arista Networks by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company's stock valued at $29,000 after acquiring an additional 198 shares in the last quarter. Finally, New Millennium Group LLC grew its stake in shares of Arista Networks by 300.0% in the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock valued at $29,000 after acquiring an additional 195 shares in the last quarter. 82.47% of the stock is owned by 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.