Rosenblatt Securities Reiterates “Sell” Rating for Arista Networks (NYSE:ANET)

Arista Networks (NYSE:ANET)‘s stock had its “sell” rating reissued by analysts at Rosenblatt Securities in a report released on Tuesday,Benzinga reports. They currently have a $80.00 price target on the technology company’s stock. Rosenblatt Securities’ price target indicates a potential downside of 24.98% from the company’s current price.

A number of other research analysts have also recently weighed in on the stock. 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 research note on Friday, November 8th. StockNews.com cut Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Evercore ISI boosted their price target on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Wells Fargo & Company increased their price objective on Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley boosted their target price on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. One 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $107.59.

Arista Networks Trading Down 2.8 %

NYSE:ANET opened at $106.64 on Tuesday. The company has a market capitalization of $134.35 billion, a P/E ratio of 51.27, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. The firm has a 50-day moving average price of $113.95 and a two-hundred day moving average price of $101.32. Arista Networks has a twelve month low of $60.08 and a twelve month high of $133.57.

Insider Activity at Arista Networks

In other news, insider John F. Mccool sold 288 shares of Arista Networks stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $108.70, for a total transaction of $31,305.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $412.65, for a total transaction of $825,300.00. Following the completion of the transaction, the director now owns 42,946 shares of the company’s stock, valued at $17,721,666.90. This trade represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 335,832 shares of company stock worth $37,787,297. 3.54% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Arista Networks

A number of institutional investors have recently added to or reduced their stakes in the company. Caitlin John LLC lifted its stake in shares of Arista Networks by 174.7% in the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock worth $26,000 after acquiring an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC grew its position in shares of Arista Networks by 335.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock worth $27,000 after acquiring an additional 191 shares during the last quarter. Cranbrook Wealth Management LLC increased its stake in shares of Arista Networks by 300.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after purchasing an additional 198 shares during the period. Trust Co. of Vermont grew its holdings in Arista Networks by 300.0% in the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock worth $29,000 after buying an additional 198 shares in the last quarter. Finally, New Millennium Group LLC increased its position in Arista Networks by 300.0% in the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after acquiring an additional 195 shares during the period. Institutional investors and hedge funds 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.