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

Arista Networks (NYSE:ANET) had its target price boosted by UBS Group from $369.00 to $425.00 in a report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. UBS Group’s target price would suggest a potential upside of 6.13% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on ANET. Citigroup boosted their price objective on Arista Networks from $385.00 to $460.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Barclays boosted their price target on Arista Networks from $320.00 to $341.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Piper Sandler reiterated a “neutral” rating and set a $421.00 price objective (up previously from $345.00) on shares of Arista Networks in a research report on Friday. 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, Evercore ISI upped their price target on shares of Arista Networks from $400.00 to $425.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. One 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $395.19.

Arista Networks Trading Down 7.1 %

NYSE:ANET opened at $400.45 on Friday. The stock has a market capitalization of $125.80 billion, a PE ratio of 51.94, a P/E/G ratio of 3.72 and a beta of 1.08. Arista Networks has a 1-year low of $203.19 and a 1-year high of $431.97. The firm has a fifty day simple moving average of $382.60 and a 200 day simple moving average of $344.17.

Arista Networks shares are going to split on Wednesday, December 4th. The 4-1 split was announced on Thursday, November 7th. The newly minted 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, insider John F. Mccool sold 2,575 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $354.38, for a total value of $912,528.50. Following the completion of the sale, the insider now directly owns 72 shares of the company’s stock, valued at $25,515.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider John F. Mccool sold 2,575 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $354.38, for a total transaction of $912,528.50. Following the completion of the sale, the insider now directly owns 72 shares in the company, valued at $25,515.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $420.36, for a total transaction of $8,407,200.00. Following the transaction, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at approximately $1,363,647.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 78,346 shares of company stock worth $30,021,432 over the last ninety days. Insiders own 3.54% of the company’s stock.

Institutional Investors Weigh In On Arista Networks

Several hedge funds have recently made changes to their positions in the company. Beacon Capital Management LLC boosted its stake in Arista Networks by 500.0% in the 2nd quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock worth $27,000 after purchasing an additional 65 shares in the last quarter. LGT Financial Advisors LLC purchased a new position in Arista Networks in the second quarter worth about $27,000. Byrne Asset Management LLC bought a new position in shares of Arista Networks in the second quarter worth approximately $33,000. Sugarloaf Wealth Management LLC purchased a new stake in shares of Arista Networks during the second quarter valued at approximately $35,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Arista Networks during the second quarter valued at approximately $35,000. 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.