Arista Networks’ (ANET) “Sell” Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reiterated their sell rating on shares of Arista Networks (NYSE:ANET) in a report released on Tuesday,Benzinga reports. They currently have a $80.00 target price on the technology company’s stock.

Several other equities analysts have also commented on the company. Evercore ISI upped their target price on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Piper Sandler restated a “neutral” rating and set a $105.25 price objective (up from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. StockNews.com cut Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Wells Fargo & Company upped their price target 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. Finally, Barclays cut their price objective on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. 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. According to data from MarketBeat, Arista Networks has an average rating of “Moderate Buy” and a consensus price target of $113.79.

Arista Networks Trading Down 0.4 %

Shares of ANET opened at $103.47 on Tuesday. Arista Networks has a 52 week low of $60.08 and a 52 week high of $133.57. The firm has a market cap of $130.35 billion, a price-to-earnings ratio of 46.61, a PEG ratio of 2.98 and a beta of 1.09. The stock has a 50 day moving average of $114.01 and a 200-day moving average of $101.55.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 31.22%. The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. On average, sell-side analysts predict that Arista Networks will post 2.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Arista Networks news, 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 transaction, the director now owns 8,128 shares in the company, valued at approximately $870,752.64. The trade was a 15.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $412.65, for a total value of $825,300.00. Following the sale, the director now owns 42,946 shares of the company’s stock, valued at $17,721,666.90. This trade represents a 4.45 % decrease in their position. 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 three months. Company insiders own 3.54% of the company’s stock.

Institutional Investors Weigh In On Arista Networks

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Zions Bancorporation N.A. raised its holdings 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 raised its holdings 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 valued at $740,000 after acquiring an additional 27 shares during the period. Altman Advisors Inc. lifted its position in shares of Arista Networks by 0.5% in the 3rd quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock valued at $2,250,000 after acquiring an additional 28 shares in the last quarter. HM Payson & Co. lifted its position in shares of Arista Networks by 28.2% in the 3rd quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock valued at $51,000 after acquiring an additional 29 shares in the last quarter. Finally, Beacon Financial Advisory LLC boosted its stake in Arista Networks by 4.9% in the 3rd quarter. Beacon Financial Advisory LLC now owns 640 shares of the technology company’s stock worth $246,000 after purchasing an additional 30 shares during the period. 82.47% of the stock is owned by institutional investors and hedge funds.

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.