Arista Networks (NYSE:ANET) Given New $73.00 Price Target at Morgan Stanley

Arista Networks (NYSE:ANET) had its price target reduced by Morgan Stanley from $118.00 to $73.00 in a research report released on Tuesday,Benzinga reports. Morgan Stanley currently has an overweight rating on the technology company’s stock.

ANET has been the subject of a number of other reports. StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. The Goldman Sachs Group restated a “buy” rating on shares of Arista Networks in a research report on Monday, March 3rd. Erste Group Bank cut shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 17th. Barclays restated an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. Finally, Evercore ISI lifted their price objective on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. One investment 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, the company has an average rating of “Moderate Buy” and a consensus target price of $108.50.

Arista Networks Stock Up 1.8 %

Shares of NYSE ANET opened at $69.42 on Tuesday. The stock’s 50-day simple moving average is $91.86 and its two-hundred day simple moving average is $100.77. Arista Networks has a twelve month low of $59.43 and a twelve month high of $133.58. The firm has a market capitalization of $87.55 billion, a P/E ratio of 31.27, a P/E/G ratio of 3.10 and a beta of 1.30.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.02. The company had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. As a group, research analysts anticipate that Arista Networks will post 2.2 EPS for the current fiscal year.

Insider Activity at Arista Networks

In other news, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $84.85, for a total value of $6,788,000.00. Following the completion of the sale, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at approximately $1,101,013.60. This trade represents a 86.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $77.55, for a total transaction of $620,400.00. Following the transaction, the director now owns 139,784 shares in the company, valued at $10,840,249.20. This represents a 5.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 411,001 shares of company stock worth $39,362,831 over the last quarter. 3.54% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ANET. Morse Asset Management Inc purchased a new stake in shares of Arista Networks in the third quarter worth $123,000. MML Investors Services LLC boosted its stake in Arista Networks by 1.7% in the 3rd quarter. MML Investors Services LLC now owns 64,178 shares of the technology company’s stock worth $24,633,000 after purchasing an additional 1,101 shares in the last quarter. LRI Investments LLC grew its position in Arista Networks by 3.1% during the 3rd quarter. LRI Investments LLC now owns 1,368 shares of the technology company’s stock valued at $528,000 after purchasing an additional 41 shares during the last quarter. Continuum Advisory LLC increased its stake in Arista Networks by 783.8% during the 3rd quarter. Continuum Advisory LLC now owns 327 shares of the technology company’s stock valued at $126,000 after purchasing an additional 290 shares in the last quarter. Finally, Executive Wealth Management LLC purchased a new position in Arista Networks in the third quarter worth about $561,000. 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.