Rosenblatt Securities Forecasts Strong Price Appreciation for Arista Networks (NYSE:ANET) Stock

Arista Networks (NYSE:ANET) had its price objective hoisted by research analysts at Rosenblatt Securities from $265.00 to $320.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “sell” rating on the technology company’s stock. Rosenblatt Securities’ price target points to a potential downside of 20.09% from the company’s current price.

ANET has been the topic of a number of other reports. Needham & Company LLC restated a “buy” rating and issued a $375.00 price target on shares of Arista Networks in a report on Wednesday, July 31st. UBS Group upped their price target on Arista Networks from $369.00 to $425.00 and gave the stock a “neutral” rating in a research report on Friday. Wells Fargo & Company lifted their price objective on shares of Arista Networks from $390.00 to $460.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Barclays increased their target price on shares of Arista Networks from $341.00 to $495.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Citigroup lifted their price target on shares of Arista Networks from $385.00 to $460.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $395.19.

Arista Networks Stock Down 7.1 %

Shares of ANET stock opened at $400.45 on Friday. Arista Networks has a 12-month low of $203.19 and a 12-month high of $431.97. The firm has a fifty day moving average of $382.60 and a 200-day moving average of $344.17. The company has a market capitalization of $125.80 billion, a price-to-earnings ratio of 51.94, a P/E/G ratio of 3.72 and a beta of 1.08.

Shares of Arista Networks are scheduled to split on Wednesday, December 4th. The 4-1 split was announced on Thursday, November 7th. The newly created shares will be payable to shareholders after the closing bell on Tuesday, December 3rd.

Insider Buying and Selling at Arista Networks

In related news, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $394.69, for a total transaction of $7,893,800.00. Following the transaction, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at approximately $1,280,374.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction on Monday, October 7th. The shares were sold at an average price of $394.69, for a total transaction of $7,893,800.00. Following the completion of the transaction, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at $1,280,374.36. The trade was a 0.00 % 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, CEO Jayshree Ullal sold 17,752 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $354.29, for a total transaction of $6,289,356.08. Following the completion of the transaction, the chief executive officer now directly owns 17,681 shares in the company, valued at $6,264,201.49. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 78,346 shares of company stock worth $30,021,432 over the last 90 days. Company insiders own 3.54% of the company’s stock.

Institutional Investors Weigh In On Arista Networks

A number of institutional investors have recently made changes to their positions in ANET. Beacon Capital Management LLC lifted its holdings in Arista Networks by 500.0% during the 2nd quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock worth $27,000 after purchasing an additional 65 shares during the last quarter. LGT Financial Advisors LLC bought a new position in Arista Networks during the 2nd quarter worth $27,000. Byrne Asset Management LLC acquired a new stake in shares of Arista Networks during the second quarter worth $33,000. Sugarloaf Wealth Management LLC bought a new stake in shares of Arista Networks in the second quarter valued at about $35,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Arista Networks in the second quarter valued at about $35,000. Institutional investors 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.