Arista Networks (NYSE:ANET) Given Neutral Rating at Piper Sandler

Arista Networks (NYSE:ANET)‘s stock had its “neutral” rating reaffirmed by research analysts at Piper Sandler in a research report issued on Wednesday,Benzinga reports. They presently have a $108.00 price objective on the technology company’s stock, up from their previous price objective of $106.00. Piper Sandler’s price target would suggest a potential downside of 2.74% from the stock’s previous close.

Several other brokerages have also commented on ANET. StockNews.com lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Morgan Stanley upped their price target on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $145.00 price target on shares of Arista Networks in a research report on Wednesday. Citigroup upped their price target on shares of Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Rosenblatt Securities reaffirmed a “sell” rating and set a $80.00 price target on shares of Arista Networks in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $113.38.

Arista Networks Stock Performance

Shares of ANET opened at $111.05 on Wednesday. The company has a market capitalization of $139.89 billion, a price-to-earnings ratio of 53.39, a PEG ratio of 2.87 and a beta of 1.09. The company’s 50 day simple moving average is $114.08 and its 200 day simple moving average is $101.54. Arista Networks has a 1 year low of $60.08 and a 1 year high of $133.57.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. Equities analysts expect that Arista Networks will post 1.97 EPS for the current fiscal year.

Insider Activity at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at $1,405,171.04. This represents a 86.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John F. Mccool sold 6,340 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $98.58, for a total transaction of $625,013.05. Following the transaction, the insider now owns 288 shares in the company, valued at $28,391.76. This trade represents a 95.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 337,320 shares of company stock valued at $37,946,706. Corporate insiders own 3.54% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. University of Texas Texas AM Investment Management Co. lifted its position in shares of Arista Networks by 300.0% in the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 544 shares of the technology company’s stock worth $60,000 after buying an additional 408 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Arista Networks in the 4th quarter worth about $50,080,000. Neo Ivy Capital Management lifted its position in shares of Arista Networks by 900.4% in the 4th quarter. Neo Ivy Capital Management now owns 44,016 shares of the technology company’s stock worth $4,865,000 after buying an additional 39,616 shares during the last quarter. Vega Investment Solutions bought a new position in shares of Arista Networks in the 4th quarter worth about $892,000. Finally, Sunbelt Securities Inc. lifted its position in shares of Arista Networks by 2,897.1% in the 4th quarter. Sunbelt Securities Inc. now owns 20,650 shares of the technology company’s stock worth $2,301,000 after buying an additional 19,961 shares during the last quarter. 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.