Arista Networks (NYSE:ANET) Receives Neutral Rating from Piper Sandler

Arista Networks (NYSE:ANET)‘s stock had its “neutral” rating reissued by Piper Sandler in a report issued on Wednesday,Benzinga reports. They currently have a $108.00 target price on the technology company’s stock, up from their prior target price of $106.00. Piper Sandler’s target price indicates a potential upside of 4.38% from the company’s current price.

ANET has been the subject of several other research reports. UBS Group lifted their price target on Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $145.00 price target on shares of Arista Networks in a research note on Wednesday. StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. The Goldman Sachs Group lifted their price target on Arista Networks from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Morgan Stanley lifted their price target on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $113.79.

Arista Networks Stock Performance

NYSE:ANET opened at $103.47 on Wednesday. The firm has a market capitalization of $130.35 billion, a price-to-earnings ratio of 46.61, a P/E/G ratio of 2.98 and a beta of 1.09. Arista Networks has a 52-week low of $60.08 and a 52-week high of $133.57. The stock has a fifty day moving average of $114.01 and a 200 day moving average of $101.55.

Arista Networks (NYSE:ANET) last posted 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. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a return on equity of 31.22% and a net margin of 40.72%. Equities analysts forecast that Arista Networks will post 2.18 earnings per share for the current fiscal year.

Insider Activity at Arista Networks

In related news, Director Kelly Bodnar Battles sold 1,488 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $107.13, for a total transaction of $159,409.44. Following the transaction, the director now owns 8,128 shares in the company, valued at $870,752.64. The trade was a 15.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $412.65, for a total value of $825,300.00. Following the transaction, the director now owns 42,946 shares in the company, valued at approximately $17,721,666.90. This represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 259,944 shares of company stock worth $30,214,186 in the last 90 days. Company insiders own 3.54% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ANET. Vanguard Group Inc. grew its holdings in shares of Arista Networks by 304.2% during the 4th quarter. Vanguard Group Inc. now owns 96,084,951 shares of the technology company’s stock worth $10,620,270,000 after acquiring an additional 72,311,318 shares during the period. FMR LLC grew its holdings in shares of Arista Networks by 330.9% during the 4th quarter. FMR LLC now owns 57,648,129 shares of the technology company’s stock worth $6,371,848,000 after acquiring an additional 44,269,572 shares during the period. Cresset Asset Management LLC grew its holdings in shares of Arista Networks by 277.5% during the 4th quarter. Cresset Asset Management LLC now owns 27,288,583 shares of the technology company’s stock worth $3,016,207,000 after acquiring an additional 20,059,303 shares during the period. Geode Capital Management LLC grew its holdings in shares of Arista Networks by 311.6% during the 4th quarter. Geode Capital Management LLC now owns 24,165,355 shares of the technology company’s stock worth $2,665,829,000 after acquiring an additional 18,293,874 shares during the period. Finally, Alliancebernstein L.P. grew its holdings in shares of Arista Networks by 218.5% during the 4th quarter. Alliancebernstein L.P. now owns 21,070,016 shares of the technology company’s stock worth $2,328,869,000 after acquiring an additional 14,454,822 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

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.