Arista Networks (NYSE:ANET) Stock Price Expected to Rise, Barclays Analyst Says

Arista Networks (NYSE:ANET) had its price objective hoisted by research analysts at Barclays from $341.00 to $495.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Barclays‘s price objective points to a potential upside of 23.70% from the company’s previous close.

A number of other equities analysts have also commented on the stock. Needham & Company LLC restated a “buy” rating and issued a $375.00 price objective on shares of Arista Networks in a research report on Wednesday, July 31st. The Goldman Sachs Group raised their price target on shares of Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Evercore ISI upped their price target on shares of Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. KeyCorp lifted their price objective on Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Finally, UBS Group upped their target price on Arista Networks from $369.00 to $425.00 and gave the stock a “neutral” rating in a research note on Friday. One analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Arista Networks presently has an average rating of “Moderate Buy” and an average price target of $391.75.

Arista Networks Trading Down 7.2 %

Shares of ANET stock traded down $30.87 during trading on Friday, reaching $400.15. 4,316,262 shares of the company’s stock traded hands, compared to its average volume of 2,203,868. The firm’s 50-day moving average is $379.96 and its 200 day moving average is $342.48. The company has a market capitalization of $125.71 billion, a P/E ratio of 51.85, a PEG ratio of 3.48 and a beta of 1.08. Arista Networks has a 1 year low of $203.19 and a 1 year high of $431.97.

Shares of Arista Networks are scheduled to split on the morning of Wednesday, December 4th. The 4-1 split was announced on Thursday, November 7th. The newly issued shares will be payable to shareholders after the closing bell on Tuesday, December 3rd.

Insider Buying and Selling

In related news, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $382.52, for a total value of $765,040.00. Following the completion of the transaction, the director now directly owns 46,946 shares of the company’s stock, valued at $17,957,783.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Arista Networks news, CEO Jayshree Ullal sold 832 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $397.39, for a total transaction of $330,628.48. Following the sale, the chief executive officer now directly owns 17,681 shares in the company, valued at approximately $7,026,252.59. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $382.52, for a total value of $765,040.00. Following the sale, the director now directly owns 46,946 shares in the company, valued at $17,957,783.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,346 shares of company stock valued at $21,614,232 over the last quarter. 3.54% of the stock is owned by company insiders.

Hedge Funds Weigh In On Arista Networks

Several hedge funds have recently bought and sold shares of the business. UniSuper Management Pty Ltd increased its stake in Arista Networks by 20.3% in the 1st quarter. UniSuper Management Pty Ltd now owns 36,329 shares of the technology company’s stock worth $10,535,000 after buying an additional 6,133 shares during the period. M&G Plc bought a new stake in shares of Arista Networks during the first quarter valued at approximately $3,238,000. GW Henssler & Associates Ltd. raised its position in Arista Networks by 3.6% during the 3rd quarter. GW Henssler & Associates Ltd. now owns 63,244 shares of the technology company’s stock valued at $24,274,000 after purchasing an additional 2,219 shares in the last quarter. Deepwater Asset Management LLC purchased a new stake in Arista Networks in the second quarter worth about $15,084,000. Finally, Sumitomo Life Insurance Co. increased its position in Arista Networks by 69.8% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 9,028 shares of the technology company’s stock valued at $3,465,000 after purchasing an additional 3,711 shares during the period. Institutional investors own 82.47% of the company’s stock.

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.