Rosenblatt Securities Forecasts Strong Price Appreciation for Arista Networks (NYSE:ANET) Stock

Arista Networks (NYSE:ANET) had its target price lifted by stock analysts at Rosenblatt Securities from $265.00 to $320.00 in a report issued on Friday,Benzinga reports. The firm presently has a “sell” rating on the technology company’s stock. Rosenblatt Securities’ price objective would suggest a potential downside of 20.09% from the stock’s previous close.

Several other equities analysts have also recently commented on ANET. The Goldman Sachs Group boosted their target price on shares of Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. UBS Group boosted their price objective on shares of Arista Networks from $369.00 to $425.00 and gave the company a “neutral” rating in a research report on Friday. Evercore ISI raised their target price on Arista Networks from $400.00 to $425.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Morgan Stanley boosted their price target on Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a report on Thursday, July 18th. Finally, Wells Fargo & Company raised their price objective on Arista Networks from $390.00 to $460.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. One research 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $395.19.

Arista Networks Stock Performance

NYSE:ANET opened at $400.45 on Friday. Arista Networks has a fifty-two week low of $203.19 and a fifty-two week high of $431.97. The company has a market cap of $125.80 billion, a price-to-earnings ratio of 51.94, a PEG ratio of 3.72 and a beta of 1.08. The stock has a fifty day moving average price of $382.60 and a 200-day moving average price of $344.17.

Arista Networks’s stock is set to split on the morning of Wednesday, December 4th. The 4-1 split was announced on Thursday, November 7th. The newly created shares will be issued to shareholders after the closing bell on Tuesday, December 3rd.

Insider Buying and Selling at Arista Networks

In other news, insider John F. Mccool sold 2,575 shares of Arista Networks stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $354.38, for a total transaction of $912,528.50. Following the transaction, the insider now owns 72 shares in the company, valued at approximately $25,515.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Jayshree Ullal sold 17,752 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $354.29, for a total value of $6,289,356.08. Following the transaction, the chief executive officer now owns 17,681 shares in the company, valued at approximately $6,264,201.49. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John F. Mccool sold 2,575 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $25,515.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 78,346 shares of company stock worth $30,021,432. 3.54% of the stock is currently owned by company insiders.

Institutional Trading of Arista Networks

Institutional investors have recently bought and sold shares of the company. Beacon Capital Management LLC lifted its stake in shares of Arista Networks by 500.0% in the 2nd quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after purchasing an additional 65 shares during the period. LGT Financial Advisors LLC bought a new stake in Arista Networks in the second quarter worth approximately $27,000. Byrne Asset Management LLC acquired a new position in Arista Networks in the second quarter valued at approximately $33,000. Sugarloaf Wealth Management LLC bought a new position in shares of Arista Networks during the 2nd quarter worth approximately $35,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Arista Networks during the 2nd quarter worth approximately $35,000. 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.