Arista Networks’ (ANET) Neutral Rating Reiterated at Piper Sandler

Arista Networks (NYSE:ANET)‘s stock had its “neutral” rating restated by stock analysts at Piper Sandler in a report issued on Friday,Benzinga reports. They presently have a $421.00 price target on the technology company’s stock, up from their prior price target of $345.00. Piper Sandler’s price target indicates a potential downside of 2.45% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Citigroup lifted their price target on shares of Arista Networks from $385.00 to $460.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. UBS Group lifted their price target on shares of Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. The Goldman Sachs Group lifted their price target on shares of Arista Networks from $390.00 to $430.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Evercore ISI lifted 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. Finally, KeyCorp lifted their price target on shares of Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $378.63.

Arista Networks Trading Up 2.0 %

NYSE:ANET opened at $431.56 on Friday. The firm has a 50-day moving average price of $379.96 and a two-hundred day moving average price of $342.48. Arista Networks has a twelve month low of $203.19 and a twelve month high of $431.97. The company has a market capitalization of $135.57 billion, a P/E ratio of 55.97, a price-to-earnings-growth ratio of 3.48 and a beta of 1.08.

Shares of Arista Networks are going 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 distributed to shareholders after the market closes on Tuesday, December 3rd.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 1,592 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $349.55, for a total transaction of $556,483.60. Following the transaction, the senior vice president now directly owns 186,600 shares in the company, valued at $65,226,030. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Jayshree Ullal sold 832 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $397.39, for a total value of $330,628.48. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Kenneth Duda sold 1,592 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $349.55, for a total transaction of $556,483.60. Following the completion of the transaction, the senior vice president now owns 186,600 shares in the company, valued at approximately $65,226,030. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 58,346 shares of company stock worth $21,614,232 in the last ninety days. 3.54% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. GSA Capital Partners LLP increased its holdings in shares of Arista Networks by 86.8% in the 1st quarter. GSA Capital Partners LLP now owns 2,968 shares of the technology company’s stock worth $861,000 after acquiring an additional 1,379 shares during the period. Oppenheimer & Co. Inc. increased its holdings in shares of Arista Networks by 140.4% in the 1st quarter. Oppenheimer & Co. Inc. now owns 19,216 shares of the technology company’s stock worth $5,572,000 after acquiring an additional 11,224 shares during the period. PFG Advisors acquired a new stake in shares of Arista Networks in the 1st quarter worth about $222,000. Reynders McVeigh Capital Management LLC acquired a new stake in shares of Arista Networks in the 1st quarter worth about $211,000. Finally, Atomi Financial Group Inc. increased its holdings in shares of Arista Networks by 2.0% in the 1st quarter. Atomi Financial Group Inc. now owns 4,071 shares of the technology company’s stock worth $1,181,000 after acquiring an additional 81 shares during the period. 82.47% of the stock is currently 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.