UBS Group Raises Arista Networks (NYSE:ANET) Price Target to $425.00

Arista Networks (NYSE:ANET) had its price target lifted by equities research analysts at UBS Group from $369.00 to $425.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. UBS Group’s price objective indicates a potential upside of 6.13% from the company’s current price.

Several other equities analysts also recently weighed in on the stock. Piper Sandler reaffirmed a “neutral” rating and set a $421.00 price target (up previously from $345.00) on shares of Arista Networks in a report on Friday. Rosenblatt Securities lifted their target price on shares of Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group increased their price target on Arista Networks from $390.00 to $430.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Evercore ISI boosted their price objective on Arista Networks from $400.00 to $425.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Finally, Citigroup increased their target price on Arista Networks from $385.00 to $460.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $395.19.

Arista Networks Stock Down 7.1 %

NYSE ANET opened at $400.45 on Friday. The company has a 50-day moving average price of $382.60 and a 200-day moving average price of $344.17. Arista Networks has a 52 week low of $203.19 and a 52 week high of $431.97. The firm has a market capitalization of $125.80 billion, a P/E ratio of 51.94, a PEG ratio of 3.72 and a beta of 1.08.

Shares of Arista Networks are going to split 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 at Arista Networks

In related news, Director Kelly Bodnar Battles sold 372 shares of Arista Networks 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 transaction, the director now owns 2,565 shares in the company, valued at approximately $915,038.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Kelly Bodnar Battles sold 372 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $356.74, for a total value of $132,707.28. Following the transaction, the director now owns 2,565 shares of the company’s stock, valued at $915,038.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction of $6,289,356.08. Following the completion of the transaction, the chief executive officer now directly owns 17,681 shares in the company, valued at $6,264,201.49. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 78,346 shares of company stock valued at $30,021,432. Corporate insiders own 3.54% of the company’s stock.

Hedge Funds Weigh In On Arista Networks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. LPL Financial LLC raised its holdings in Arista Networks by 2.0% in the third quarter. LPL Financial LLC now owns 250,416 shares of the technology company’s stock valued at $96,114,000 after acquiring an additional 4,952 shares in the last quarter. Citizens Financial Group Inc. RI increased its position in shares of Arista Networks by 67.3% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 2,920 shares of the technology company’s stock valued at $1,121,000 after purchasing an additional 1,175 shares during the last quarter. Moran Wealth Management LLC raised its holdings in shares of Arista Networks by 0.5% in the 3rd quarter. Moran Wealth Management LLC now owns 21,280 shares of the technology company’s stock valued at $8,168,000 after purchasing an additional 113 shares in the last quarter. Altman Advisors Inc. lifted its position in shares of Arista Networks by 0.5% during the 3rd quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock worth $2,250,000 after purchasing an additional 28 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its stake in shares of Arista Networks by 20.7% during the third quarter. First Horizon Advisors Inc. now owns 963 shares of the technology company’s stock worth $370,000 after purchasing an additional 165 shares in the last quarter. Hedge funds and other institutional investors 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.