Arista Networks (NYSE:ANET) Receives “Neutral” Rating from Piper Sandler

Piper Sandler reissued their neutral rating on shares of Arista Networks (NYSE:ANET) in a research note released on Wednesday,Benzinga reports. Piper Sandler currently has a $108.00 price target on the technology company’s stock, up from their previous price target of $106.00.

Several other equities research analysts have also weighed in on ANET. The Goldman Sachs Group raised their target price on Arista Networks from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday. Wells Fargo & Company raised their target price on Arista Networks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday. Evercore ISI raised their target price on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Citigroup raised their target price on Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $113.79.

Arista Networks Price Performance

ANET stock opened at $103.82 on Wednesday. The firm has a market capitalization of $130.79 billion, a P/E ratio of 49.91, a P/E/G ratio of 2.87 and a beta of 1.09. The business’s 50-day moving average is $114.08 and its two-hundred day moving average is $101.54. Arista Networks has a 1 year low of $60.08 and a 1 year high of $133.57.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. On average, analysts expect that Arista Networks will post 1.97 EPS for the current year.

Insiders Place Their Bets

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $108.29, for a total value of $8,663,200.00. Following the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,405,171.04. This trade represents a 86.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kelly Bodnar Battles sold 1,488 shares of Arista Networks stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $107.13, for a total value of $159,409.44. Following the completion of the transaction, the director now owns 8,128 shares in the company, valued at $870,752.64. This trade represents a 15.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 259,944 shares of company stock valued at $30,214,186 over the last quarter. Company insiders own 3.54% of the company’s stock.

Institutional Trading of Arista Networks

A number of institutional investors have recently modified their holdings of ANET. OLD National Bancorp IN boosted its stake in shares of 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 buying an additional 62 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake 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 buying an additional 68 shares in the last quarter. Raleigh Capital Management Inc. boosted its stake 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 buying an additional 77 shares in the last quarter. Foundations Investment Advisors LLC boosted its stake 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 buying 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 approximately $211,000. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

About Arista Networks

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.