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

Arista Networks (NYSE:ANET) had its price objective decreased by Barclays from $495.00 to $125.00 in a research report released on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the technology company’s stock.

A number of other brokerages also recently issued reports on ANET. Wells Fargo & Company lifted their price target on shares of Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. UBS Group raised their price objective 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. StockNews.com raised shares of Arista Networks from a “hold” rating to a “buy” rating in a report on Wednesday. Piper Sandler reissued a “neutral” rating and set a $105.25 price objective (up previously from $86.25) on shares of Arista Networks in a report on Friday, November 8th. Finally, Rosenblatt Securities raised their price objective on shares of Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $98.88.

Arista Networks Stock Performance

NYSE ANET opened at $105.48 on Wednesday. Arista Networks has a one year low of $53.12 and a one year high of $108.97. The firm has a 50 day simple moving average of $99.60 and a 200-day simple moving average of $89.73. The firm has a market cap of $33.22 billion, a price-to-earnings ratio of 12.68, a PEG 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 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the previous year, the firm earned $0.41 earnings per share. The firm’s quarterly revenue was up 20.0% on a year-over-year basis. Equities analysts predict that Arista Networks will post 7.79 EPS for the current fiscal year.

Insider Buying and Selling at Arista Networks

In related news, SVP Kenneth Duda sold 6,756 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $80.32, for a total transaction of $542,641.92. Following the completion of the sale, the senior vice president now owns 730,400 shares of the company’s stock, valued at approximately $58,665,728. This represents a 0.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jayshree Ullal sold 3,344 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $96.67, for a total transaction of $323,264.48. Following the sale, the chief executive officer now directly owns 70,724 shares of the company’s stock, valued at approximately $6,836,889.08. This trade represents a 4.51 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 284,092 shares of company stock valued at $29,919,134. 3.54% of the stock is owned by company insiders.

Institutional Trading of Arista Networks

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Simplicity Wealth LLC boosted its holdings in Arista Networks by 21.2% in the 2nd quarter. Simplicity Wealth LLC now owns 5,685 shares of the technology company’s stock worth $1,992,000 after acquiring an additional 993 shares during the period. CX Institutional boosted its stake in shares of Arista Networks by 25.6% during the 2nd quarter. CX Institutional now owns 2,191 shares of the technology company’s stock valued at $768,000 after buying an additional 447 shares during the last quarter. OLD National Bancorp IN boosted its stake in shares of Arista Networks by 7.8% during the 2nd quarter. OLD National Bancorp IN now owns 1,025 shares of the technology company’s stock valued at $359,000 after buying an additional 74 shares during the last quarter. Capital Investment Advisors LLC purchased a new position in shares of Arista Networks during the 2nd quarter valued at approximately $223,000. Finally, QRG Capital Management Inc. boosted its stake in shares of Arista Networks by 1.9% during the 2nd quarter. QRG Capital Management Inc. now owns 41,852 shares of the technology company’s stock valued at $14,668,000 after buying an additional 782 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

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.