Rosenblatt Securities Issues Positive Forecast for Arista Networks (NYSE:ANET) Stock Price

Arista Networks (NYSE:ANET) had its target price upped by Rosenblatt Securities from $140.00 to $165.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. Rosenblatt Securities’ price target indicates a potential upside of 16.37% from the company’s current price.

A number of other equities analysts have also recently issued reports on ANET. UBS Group restated a “buy” rating and issued a $155.00 price objective on shares of Arista Networks in a research report on Wednesday, December 3rd. Barclays reissued an “overweight” rating and issued a $183.00 target price (up from $179.00) on shares of Arista Networks in a report on Wednesday, November 5th. Piper Sandler raised Arista Networks from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $145.00 to $159.00 in a research report on Monday, January 5th. Morgan Stanley dropped their target price on Arista Networks from $171.00 to $159.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 17th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Arista Networks in a report on Monday, December 29th. Seventeen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $166.00.

Arista Networks Stock Up 3.1%

Arista Networks stock opened at $141.79 on Tuesday. Arista Networks has a 52 week low of $59.43 and a 52 week high of $164.94. The stock has a market cap of $178.55 billion, a price-to-earnings ratio of 53.91, a PEG ratio of 2.32 and a beta of 1.42. The business has a 50-day simple moving average of $132.06 and a 200 day simple moving average of $136.47.

Insiders Place Their Bets

In other Arista Networks news, insider Kenneth Duda sold 30,000 shares of the company’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $123.16, for a total value of $3,694,800.00. Following the sale, the insider directly owned 12,976 shares of the company’s stock, valued at approximately $1,598,124.16. This represents a 69.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $140.43, for a total transaction of $1,123,440.00. Following the transaction, the director directly owned 9,784 shares of the company’s stock, valued at approximately $1,373,967.12. This trade represents a 44.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 216,464 shares of company stock worth $27,553,548 in the last ninety days. 3.54% of the stock is owned by company insiders.

Institutional Investors Weigh In On Arista Networks

Several institutional investors have recently modified their holdings of ANET. Global Trust Asset Management LLC raised its holdings in Arista Networks by 33.0% during the third quarter. Global Trust Asset Management LLC now owns 19,273 shares of the technology company’s stock valued at $2,808,000 after buying an additional 4,780 shares in the last quarter. Rakuten Investment Management Inc. acquired a new position in shares of Arista Networks in the third quarter valued at $8,263,000. National Wealth Management Group LLC acquired a new stake in shares of Arista Networks during the 3rd quarter valued at about $1,296,000. Vanguard Group Inc. grew its stake in shares of Arista Networks by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 98,993,100 shares of the technology company’s stock valued at $10,127,984,000 after purchasing an additional 1,136,167 shares during the period. Finally, Holocene Advisors LP bought a new stake in Arista Networks during the second quarter worth about $247,451,000. 82.47% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Company Profile

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.