Shares of Arista Networks, Inc. (NYSE:ANET – Get Rating) have received an average recommendation of “Moderate Buy” from the twenty-one analysts that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $173.85.
Several equities analysts have commented on the stock. Morgan Stanley boosted their price target on shares of Arista Networks from $140.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Friday, April 14th. Loop Capital increased their price target on Arista Networks from $181.00 to $188.00 and gave the company a “buy” rating in a research report on Tuesday, February 14th. StockNews.com initiated coverage on shares of Arista Networks in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Wells Fargo & Company raised their target price on shares of Arista Networks from $170.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, March 22nd. Finally, Piper Sandler boosted their price target on shares of Arista Networks from $162.00 to $166.00 in a report on Tuesday, May 2nd.
Arista Networks Trading Down 3.4 %
ANET opened at $140.47 on Wednesday. The stock’s 50-day moving average price is $154.52 and its 200 day moving average price is $138.35. Arista Networks has a 12-month low of $89.11 and a 12-month high of $171.44. The firm has a market cap of $43.30 billion, a price-to-earnings ratio of 29.26, a PEG ratio of 1.84 and a beta of 1.26.
Insider Activity at Arista Networks
In other Arista Networks news, SVP Marc Taxay sold 8,743 shares of Arista Networks stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $138.44, for a total value of $1,210,380.92. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Kelly Bodnar Battles sold 400 shares of the stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $134.74, for a total transaction of $53,896.00. Following the completion of the sale, the director now directly owns 2,144 shares of the company’s stock, valued at $288,882.56. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Marc Taxay sold 8,743 shares of the business’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $138.44, for a total transaction of $1,210,380.92. The disclosure for this sale can be found here. Insiders sold a total of 332,306 shares of company stock worth $50,526,351 in the last 90 days. 19.59% of the stock is owned by insiders.
Institutional Trading of Arista Networks
Hedge funds and other institutional investors have recently made changes to their positions in the company. Avantax Advisory Services Inc. raised its stake in Arista Networks by 2.6% during the first quarter. Avantax Advisory Services Inc. now owns 2,801 shares of the technology company’s stock worth $470,000 after purchasing an additional 71 shares during the period. Argent Trust Co increased its holdings in shares of Arista Networks by 3.8% during the 1st quarter. Argent Trust Co now owns 2,045 shares of the technology company’s stock worth $343,000 after buying an additional 75 shares during the last quarter. ETF Managers Group LLC raised its position in shares of Arista Networks by 1.5% in the 1st quarter. ETF Managers Group LLC now owns 5,193 shares of the technology company’s stock worth $872,000 after buying an additional 77 shares during the period. Alaethes Wealth LLC boosted its holdings in Arista Networks by 0.5% in the first quarter. Alaethes Wealth LLC now owns 14,715 shares of the technology company’s stock valued at $2,470,000 after acquiring an additional 80 shares during the last quarter. Finally, Kentucky Retirement Systems grew its position in Arista Networks by 0.4% during the fourth quarter. Kentucky Retirement Systems now owns 19,378 shares of the technology company’s stock valued at $2,352,000 after acquiring an additional 85 shares during the period. Hedge funds and other institutional investors own 64.30% of the company’s stock.
Arista Networks Company Profile
Arista Networks, Inc engages in the business of developing, marketing, and selling cloud networking solutions. The firm is also involved in switching and routing platforms and related network applications. The company was founded by Andreas Bechtolsheim, David Cheriton, and Kenneth Duda in November 2004 and is headquartered in Santa Clara, CA.
- Get a free copy of the StockNews.com research report on Arista Networks (ANET)
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