Arista Networks (NYSE:ANET) Given New $126.00 Price Target at Barclays

Arista Networks (NYSE:ANET) had its target price upped by Barclays from $125.00 to $126.00 in a report published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

A number of other equities analysts have also recently issued reports on ANET. Wells Fargo & Company lifted their target price on shares of Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. UBS Group upped their price objective on Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a research report on Friday, November 8th. Citigroup upped their target price on shares of Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday. Piper Sandler restated a “neutral” rating and set a $105.25 price objective (up previously from $86.25) on shares of Arista Networks in a report on Friday, November 8th. Finally, StockNews.com cut Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $113.79.

Arista Networks Stock Performance

Arista Networks stock opened at $103.82 on Wednesday. The company has a market cap of $130.79 billion, a P/E ratio of 49.91, a price-to-earnings-growth ratio of 2.87 and a beta of 1.09. Arista Networks has a one year low of $60.08 and a one year high of $133.57. The business has a fifty day moving average of $114.08 and a two-hundred day moving average of $101.54.

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 during the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. Sell-side analysts predict that Arista Networks will post 1.97 EPS for the current year.

Insider Activity

In other news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $115.61, for a total value of $9,248,800.00. Following the completion of the sale, the senior vice president now owns 12,976 shares in the company, valued at approximately $1,500,155.36. This trade represents a 86.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kelly Bodnar Battles sold 1,488 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $107.13, for a total value of $159,409.44. Following the transaction, the director now directly 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. In the last 90 days, insiders have sold 259,944 shares of company stock valued at $30,214,186. Company insiders own 3.54% of the company’s stock.

Institutional Trading of Arista Networks

Hedge funds have recently made changes to their positions in the company. Zions Bancorporation N.A. increased its stake in Arista Networks by 6.9% during the 3rd quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock worth $160,000 after buying an additional 27 shares during the period. Intellectus Partners LLC increased its position in shares of Arista Networks by 1.4% during the third quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock worth $740,000 after acquiring an additional 27 shares during the last quarter. Altman Advisors Inc. lifted its stake in shares of Arista Networks by 0.5% in the third quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock worth $2,250,000 after acquiring an additional 28 shares in the last quarter. HM Payson & Co. boosted its holdings in Arista Networks by 28.2% in the third quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock valued at $51,000 after purchasing an additional 29 shares during the last quarter. Finally, Beacon Financial Advisory LLC grew its stake in Arista Networks by 4.9% during the 3rd quarter. Beacon Financial Advisory LLC now owns 640 shares of the technology company’s stock valued at $246,000 after purchasing an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

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.