UBS Group Issues Positive Forecast for Arista Networks (NYSE:ANET) Stock Price

Arista Networks (NYSE:ANET) had its price objective lifted by UBS Group from $369.00 to $425.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a neutral rating on the technology company’s stock.

Other equities analysts have also recently issued reports about the company. The Goldman Sachs Group increased their price target on Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Wells Fargo & Company raised their target price on Arista Networks from $390.00 to $460.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Morgan Stanley upped their price target on shares of Arista Networks from $325.00 to $355.00 and gave the company an “overweight” rating in a research report on Thursday, July 18th. KeyCorp boosted their target price on shares of Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $375.00 price target on shares of Arista Networks in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $395.19.

Arista Networks Stock Performance

Shares of ANET stock traded down $30.57 during trading hours 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 business has a fifty day moving average price of $382.60 and a 200-day moving average price of $344.17. Arista Networks has a one year low of $203.19 and a one year high of $431.97. The firm has a market cap of $125.80 billion, a PE ratio of 48.13, a price-to-earnings-growth ratio of 3.48 and a beta of 1.08.

Shares of Arista Networks are set 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 payable to shareholders after the closing bell on Tuesday, December 3rd.

Insider Activity

In related news, CEO Jayshree Ullal sold 17,752 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was 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 directly owns 17,681 shares in the company, valued at approximately $6,264,201.49. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Jayshree Ullal sold 17,752 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $354.29, for a total transaction of $6,289,356.08. Following the sale, 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 Securities & Exchange Commission, which is available through this link. Also, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $394.69, for a total transaction of $7,893,800.00. Following the transaction, the senior vice president now owns 3,244 shares of the company’s stock, valued at $1,280,374.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 78,346 shares of company stock worth $30,021,432 over the last 90 days. Corporate insiders own 3.54% of the company’s stock.

Institutional Investors Weigh In On Arista Networks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. LPL Financial LLC boosted its holdings in shares of Arista Networks by 2.0% in the 3rd quarter. LPL Financial LLC now owns 250,416 shares of the technology company’s stock worth $96,114,000 after purchasing an additional 4,952 shares during the period. Citizens Financial Group Inc. RI lifted its position in Arista Networks by 67.3% in the third quarter. Citizens Financial Group Inc. RI now owns 2,920 shares of the technology company’s stock worth $1,121,000 after buying an additional 1,175 shares during the last quarter. Moran Wealth Management LLC boosted its stake in Arista Networks by 0.5% during the third quarter. Moran Wealth Management LLC now owns 21,280 shares of the technology company’s stock worth $8,168,000 after buying an additional 113 shares during the period. Altman Advisors Inc. increased its position 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 acquiring an additional 28 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its stake in shares of Arista Networks by 20.7% in the third quarter. First Horizon Advisors Inc. now owns 963 shares of the technology company’s stock valued at $370,000 after acquiring an additional 165 shares during the period. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

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.