Arista Networks (NYSE:ANET) Given “Sell” Rating at Rosenblatt Securities

Rosenblatt Securities restated their sell rating on shares of Arista Networks (NYSE:ANET) in a research report released on Friday, Marketbeat Ratings reports. The brokerage currently has a $210.00 price objective on the technology company’s stock.

Several other research firms have also issued reports on ANET. Melius upgraded Arista Networks from a hold rating to a buy rating in a research report on Monday, January 8th. Melius Research upgraded Arista Networks from a hold rating to a buy rating and set a $300.00 price objective for the company in a report on Monday, January 8th. JMP Securities restated a market outperform rating and issued a $325.00 target price on shares of Arista Networks in a research note on Tuesday, February 13th. Oppenheimer restated a market perform rating on shares of Arista Networks in a research note on Tuesday, February 13th. Finally, Barclays lifted their price objective on Arista Networks from $272.00 to $311.00 and gave the company an overweight rating in a research note on Tuesday, February 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $275.59.

Arista Networks Stock Performance

Shares of ANET opened at $263.20 on Friday. The stock’s 50-day simple moving average is $281.58 and its 200 day simple moving average is $243.39. The stock has a market capitalization of $82.28 billion, a price-to-earnings ratio of 40.06, a price-to-earnings-growth ratio of 2.34 and a beta of 1.09. Arista Networks has a 52-week low of $131.68 and a 52-week high of $307.74.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.38. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter last year, the firm posted $1.25 EPS. The company’s revenue was up 20.8% compared to the same quarter last year. On average, research analysts forecast that Arista Networks will post 6.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, Director Yvonne Wassenaar sold 186 shares of the business’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $261.41, for a total transaction of $48,622.26. Following the completion of the sale, the director now owns 2,678 shares of the company’s stock, valued at $700,055.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Yvonne Wassenaar sold 186 shares of the business’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $261.41, for a total value of $48,622.26. Following the transaction, the director now directly owns 2,678 shares in the company, valued at $700,055.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jayshree Ullal sold 18,621 shares of the business’s stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $257.60, for a total value of $4,796,769.60. Following the completion of the sale, the chief executive officer now owns 82,766 shares in the company, valued at $21,320,521.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 361,036 shares of company stock valued at $102,813,921. Company insiders own 18.99% of the company’s stock.

Institutional Investors Weigh In On Arista Networks

A number of hedge funds have recently made changes to their positions in ANET. Vanguard Group Inc. grew its stake in shares of Arista Networks by 5.7% during the fourth quarter. Vanguard Group Inc. now owns 29,494,876 shares of the technology company’s stock valued at $6,946,338,000 after buying an additional 1,596,040 shares during the last quarter. FMR LLC lifted its holdings in shares of Arista Networks by 32.2% during the 3rd quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock valued at $1,897,906,000 after purchasing an additional 2,515,864 shares during the last quarter. Capital World Investors raised its stake in Arista Networks by 0.5% in the 4th quarter. Capital World Investors now owns 10,136,348 shares of the technology company’s stock worth $2,387,211,000 after acquiring an additional 55,312 shares during the last quarter. State Street Corp raised its stake in Arista Networks by 3.2% in the 1st quarter. State Street Corp now owns 9,991,923 shares of the technology company’s stock worth $1,677,231,000 after acquiring an additional 313,036 shares during the last quarter. Finally, Morgan Stanley grew its position in Arista Networks by 162.2% during the 4th quarter. Morgan Stanley now owns 5,549,335 shares of the technology company’s stock worth $673,412,000 after purchasing an additional 3,432,952 shares during the period. 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.