Rosenblatt Securities Issues Positive Forecast for Arista Networks (NYSE:ANET) Stock Price

Arista Networks (NYSE:ANET) had its target price raised by Rosenblatt Securities from $265.00 to $320.00 in a research report sent to investors on Friday morning,Benzinga reports. Rosenblatt Securities currently has a sell rating on the technology company’s stock.

ANET has been the topic of a number of other reports. Wells Fargo & Company lifted their price target on shares of Arista Networks from $390.00 to $460.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. KeyCorp boosted their target price on Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Barclays lifted their price objective on Arista Networks from $341.00 to $495.00 and gave the company an “overweight” rating in a report on Friday. JPMorgan Chase & Co. raised their target price on shares of Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, Evercore ISI upped their price target on shares of Arista Networks from $400.00 to $425.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Arista Networks has an average rating of “Moderate Buy” and a consensus price target of $395.19.

Arista Networks Trading Down 7.1 %

Shares of ANET stock traded down $30.57 on Friday, reaching $400.45. The company had a trading volume of 6,328,359 shares, compared to its average volume of 2,213,104. The company has a 50-day moving average of $382.60 and a 200-day moving average of $344.17. Arista Networks has a 12 month low of $203.19 and a 12 month high of $431.97. The stock has a market cap of $125.80 billion, a PE ratio of 48.13, a PEG ratio of 3.48 and a beta of 1.08.

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

Insider Activity at Arista Networks

In other news, insider John F. Mccool sold 2,575 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $354.38, for a total transaction of $912,528.50. Following the sale, the insider now owns 72 shares in the company, valued at $25,515.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Arista Networks news, SVP Kenneth Duda sold 1,689 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $321.28, for a total transaction of $542,641.92. Following the transaction, the senior vice president now owns 182,600 shares of the company’s stock, valued at $58,665,728. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John F. Mccool sold 2,575 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $354.38, for a total value of $912,528.50. Following the completion of the sale, the insider now directly owns 72 shares of the company’s stock, valued at approximately $25,515.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 78,346 shares of company stock valued at $30,021,432. Insiders own 3.54% of the company’s stock.

Hedge Funds Weigh In On Arista Networks

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Zions Bancorporation N.A. boosted its holdings in shares of 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 grew its position in shares of Arista Networks by 1.4% in the third quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock valued at $740,000 after purchasing an additional 27 shares during the last quarter. First Affirmative Financial Network increased its stake in shares of Arista Networks by 4.3% during the third quarter. First Affirmative Financial Network now owns 682 shares of the technology company’s stock worth $262,000 after purchasing an additional 28 shares during the period. Altman Advisors Inc. lifted its holdings in Arista Networks by 0.5% during the 3rd quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock worth $2,250,000 after purchasing an additional 28 shares during the last quarter. Finally, FCG Investment Co boosted its stake in Arista Networks by 2.3% in the 2nd quarter. FCG Investment Co now owns 1,271 shares of the technology company’s stock valued at $445,000 after purchasing an additional 29 shares during the period. 82.47% of the stock is owned by institutional investors.

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.