Piper Sandler Reaffirms Neutral Rating for Arista Networks (NYSE:ANET)

Piper Sandler reaffirmed their neutral rating on shares of Arista Networks (NYSE:ANET - Free Report) in a research report sent to investors on Wednesday morning,Benzinga reports. Piper Sandler currently has a $108.00 price objective on the technology company's stock, up from their previous price objective of $106.00.

Other research analysts also recently issued research reports about the company. Citigroup raised their price target on Arista Networks from $115.00 to $121.00 and gave the stock a "buy" rating in a research note on Wednesday. The Goldman Sachs Group raised their price target on Arista Networks from $135.00 to $145.00 and gave the stock a "buy" rating in a research note on Wednesday. Rosenblatt Securities reiterated a "sell" rating and issued a $80.00 target price on shares of Arista Networks in a research note on Tuesday. UBS Group lifted their target price on Arista Networks from $92.25 to $106.25 and gave the company a "neutral" rating in a research note on Friday, November 8th. Finally, Morgan Stanley lifted their target price on Arista Networks from $102.50 to $118.00 and gave the company an "overweight" rating in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Arista Networks has an average rating of "Moderate Buy" and a consensus price target of $113.79.

Arista Networks Price Performance

Shares of NYSE ANET traded down $5.10 during midday trading on Wednesday, hitting $98.31. 13,984,341 shares of the company's stock were exchanged, compared to its average volume of 10,062,921. Arista Networks has a twelve month low of $60.08 and a twelve month high of $133.57. The company has a market cap of $123.84 billion, a PE ratio of 44.28, a P/E/G ratio of 2.79 and a beta of 1.09. The firm's fifty day simple moving average is $113.94 and its 200-day simple moving average is $101.57.

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 (EPS) for the quarter, topping analysts' consensus estimates 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 return on equity of 29.91% and a net margin of 40.72%. Equities 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 Charles H. Giancarlo sold 2,000 shares of the company's stock in a transaction 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 sale, the director now owns 42,946 shares of the company's stock, valued at approximately $17,721,666.90. This represents a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the company's stock in a transaction on Friday, December 6th. The shares were 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 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 disclosure for this sale can be found here. Insiders have sold 260,056 shares of company stock valued at $30,225,623 over the last quarter. Company insiders own 3.54% of the company's stock.

Institutional Trading of Arista Networks

Several large investors have recently bought and sold shares of ANET. OLD National Bancorp IN grew its holdings in Arista Networks by 6.0% in the third 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 during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Arista Networks by 2.0% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 3,548 shares of the technology company's stock valued at $1,362,000 after acquiring an additional 68 shares in the last quarter. Raleigh Capital Management Inc. lifted its position in shares of Arista Networks by 16.6% in the third quarter. Raleigh Capital Management Inc. now owns 540 shares of the technology company's stock valued at $207,000 after acquiring an additional 77 shares in the last quarter. Foundations Investment Advisors LLC lifted its position in shares of Arista Networks by 5.0% in the third quarter. Foundations Investment Advisors LLC now owns 653 shares of the technology company's stock valued at $251,000 after acquiring an additional 31 shares in the last quarter. Finally, Vicus Capital purchased a new stake in shares of Arista Networks in the third quarter valued at $211,000. Institutional investors and hedge funds own 82.47% of the company's stock.

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.