Barclays Lowers Arista Networks (NYSE:ANET) Price Target to $125.00

Arista Networks (NYSE:ANET) had its price target dropped by equities researchers at Barclays from $495.00 to $125.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. Barclays‘s target price indicates a potential upside of 17.02% from the stock’s current price.

ANET has been the topic of a number of other reports. Rosenblatt Securities increased their price target on Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a report on Friday, November 8th. UBS Group raised their price target on shares of Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a report on Friday, November 8th. Evercore ISI upped their price objective on shares of Arista Networks from $100.00 to $106.25 and gave the company an “outperform” rating in a report on Tuesday, October 1st. StockNews.com upgraded Arista Networks from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Citigroup increased their price target on Arista Networks from $96.25 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Arista Networks currently has a consensus rating of “Moderate Buy” and an average target price of $98.88.

Arista Networks Stock Performance

Shares of NYSE ANET opened at $106.82 on Wednesday. The company’s 50 day moving average price is $99.81 and its 200-day moving average price is $89.84. Arista Networks has a 52-week low of $53.12 and a 52-week high of $108.97. The company has a market capitalization of $33.64 billion, a P/E ratio of 12.84, a price-to-earnings-growth ratio of 3.12 and a beta of 1.10.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Thursday, November 7th. The technology company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the prior year, the firm posted $0.41 earnings per share. The business’s quarterly revenue was up 20.0% compared to the same quarter last year. Analysts forecast that Arista Networks will post 7.79 earnings per share for the current year.

Insider Buying and Selling

In other Arista Networks news, CEO Jayshree Ullal sold 3,344 shares of Arista Networks stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $96.67, for a total value of $323,264.48. Following the sale, the chief executive officer now owns 70,724 shares of the company’s stock, valued at approximately $6,836,889.08. The trade was a 4.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $412.65, for a total transaction of $825,300.00. Following the transaction, the director now directly owns 42,946 shares of the company’s stock, valued at $17,721,666.90. This represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 274,676 shares of company stock worth $28,280,199. 3.54% of the stock is owned by insiders.

Hedge Funds Weigh In On Arista Networks

Several institutional investors have recently bought and sold shares of ANET. Zions Bancorporation N.A. raised its stake in shares of Arista Networks by 6.9% in the third quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock valued at $160,000 after buying an additional 27 shares during the period. Intellectus Partners LLC increased its holdings in Arista Networks by 1.4% in the 3rd quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock worth $740,000 after acquiring an additional 27 shares during the last quarter. First Affirmative Financial Network raised its stake in Arista Networks by 4.3% in the 3rd quarter. First Affirmative Financial Network now owns 682 shares of the technology company’s stock valued at $262,000 after acquiring an additional 28 shares during the period. Altman Advisors Inc. lifted its holdings in Arista Networks by 0.5% during the third quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock valued at $2,250,000 after purchasing an additional 28 shares during the last quarter. Finally, FCG Investment Co boosted its position in Arista Networks by 2.3% during the second quarter. FCG Investment Co now owns 1,271 shares of the technology company’s stock worth $445,000 after purchasing an additional 29 shares during the period. Hedge funds and other 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.