Arista Networks, Inc. (NYSE:ANET) Receives Consensus Rating of “Moderate Buy” from Analysts

Arista Networks, Inc. (NYSE:ANET) has received a consensus rating of “Moderate Buy” from the nineteen brokerages that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and fifteen have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $373.88.

Several research firms have issued reports on ANET. Piper Sandler boosted their price objective on Arista Networks from $302.00 to $345.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. Wells Fargo & Company upped their price target on shares of Arista Networks from $390.00 to $460.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group lifted their price objective on shares of Arista Networks from $390.00 to $430.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Evercore ISI raised their target price on Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. upped their price target on Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st.

Arista Networks Stock Up 2.6 %

ANET opened at $405.28 on Wednesday. The firm has a market cap of $127.32 billion, a PE ratio of 52.57, a P/E/G ratio of 3.47 and a beta of 1.08. The business has a fifty day simple moving average of $378.33 and a 200-day simple moving average of $341.91. Arista Networks has a fifty-two week low of $203.19 and a fifty-two week high of $422.73.

Insider Activity

In related news, CEO Jayshree Ullal sold 17,752 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 17,681 shares of the company’s stock, valued at $6,264,201.49. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Jayshree Ullal sold 17,752 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 17,681 shares of the company’s stock, valued at approximately $6,264,201.49. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kelly Bodnar Battles sold 372 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $356.74, for a total transaction of $132,707.28. Following the sale, the director now directly owns 2,565 shares of the company’s stock, valued at approximately $915,038.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 57,514 shares of company stock worth $21,283,604. Corporate insiders own 3.54% of the company’s stock.

Institutional Trading of Arista Networks

Several large investors have recently made changes to their positions in ANET. GQG Partners LLC acquired a new position in Arista Networks during the 1st quarter worth about $881,848,000. Legal & General Group Plc raised its stake in shares of Arista Networks by 0.9% in the second quarter. Legal & General Group Plc now owns 2,195,733 shares of the technology company’s stock worth $769,560,000 after acquiring an additional 20,278 shares during the last quarter. Swedbank AB acquired a new position in shares of Arista Networks during the first quarter worth approximately $521,767,000. Ameriprise Financial Inc. increased its holdings in shares of Arista Networks by 97.2% in the second quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company’s stock valued at $628,966,000 after purchasing an additional 884,703 shares in the last quarter. Finally, TD Asset Management Inc raised its position in Arista Networks by 18.7% in the 1st quarter. TD Asset Management Inc now owns 943,694 shares of the technology company’s stock worth $273,652,000 after purchasing an additional 148,759 shares during the last quarter. 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.