Arista Networks (NYSE:ANET) Price Target Lowered to $92.00 at Citigroup

Arista Networks (NYSE:ANET) had its price objective decreased by equities research analysts at Citigroup from $121.00 to $92.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Citigroup’s target price indicates a potential upside of 25.17% from the stock’s current price.

ANET has been the subject of several other research reports. Morgan Stanley lowered their price objective on shares of Arista Networks from $118.00 to $73.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. The Goldman Sachs Group reiterated a “buy” rating on shares of Arista Networks in a report on Monday, March 3rd. Evercore ISI lifted their price objective on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. Finally, Erste Group Bank cut Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, March 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.43.

Arista Networks Trading Up 1.1 %

Shares of NYSE:ANET traded up $0.83 during mid-day trading on Monday, reaching $73.50. The stock had a trading volume of 8,603,763 shares, compared to its average volume of 9,155,806. Arista Networks has a twelve month low of $59.43 and a twelve month high of $133.58. The firm has a market cap of $92.69 billion, a PE ratio of 33.11, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30. The firm has a 50 day simple moving average of $88.74 and a two-hundred day simple moving average of $100.14.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. On average, equities analysts anticipate that Arista Networks will post 2.2 EPS for the current fiscal year.

Insider Buying and Selling at Arista Networks

In other news, CEO Jayshree Ullal sold 138,351 shares of Arista Networks stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $93.88, for a total value of $12,988,391.88. Following the completion of the sale, the chief executive officer now directly owns 92,641 shares in the company, valued at approximately $8,697,137.08. The trade was a 59.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $77.55, for a total value of $620,400.00. Following the sale, the director now directly 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 have sold a total of 411,031 shares of company stock valued at $39,364,943 in the last three months. 3.54% of the stock is currently owned by company insiders.

Institutional Trading of Arista Networks

Large investors have recently modified their holdings of the stock. Caitlin John LLC lifted its position in Arista Networks by 174.7% in the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after acquiring an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC lifted its holdings in shares of Arista Networks by 335.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock valued at $27,000 after purchasing an additional 191 shares in the last quarter. New Millennium Group LLC grew its holdings in Arista Networks by 300.0% during the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock worth $29,000 after buying an additional 195 shares in the last quarter. Fragasso Financial Advisors Inc grew its holdings in Arista Networks by 4.4% during the first quarter. Fragasso Financial Advisors Inc now owns 4,645 shares of the technology company’s stock worth $360,000 after buying an additional 196 shares in the last quarter. Finally, Cranbrook Wealth Management LLC raised its position in Arista Networks by 300.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after buying an additional 198 shares during the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

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.