Arista Networks (NYSE:ANET) Price Target Raised to $145.00 at The Goldman Sachs Group

Arista Networks (NYSE:ANET) had its price target raised by The Goldman Sachs Group from $135.00 to $145.00 in a report released on Wednesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the technology company’s stock.

Other equities analysts have also recently issued research reports about the company. StockNews.com cut Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Evercore ISI increased their price objective on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Rosenblatt Securities reaffirmed a “sell” rating and set a $80.00 target price on shares of Arista Networks in a research note on Tuesday. Needham & Company LLC reiterated a “buy” rating and issued a $145.00 target price on shares of Arista Networks in a research report on Wednesday. Finally, Barclays lowered their price target on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $113.79.

Arista Networks Price Performance

Shares of NYSE:ANET opened at $103.82 on Wednesday. The business’s 50 day moving average price is $114.08 and its 200-day moving average price is $101.54. Arista Networks has a 1 year low of $60.08 and a 1 year high of $133.57. The firm has a market capitalization of $130.79 billion, a price-to-earnings ratio of 49.91, a price-to-earnings-growth ratio of 2.87 and a beta of 1.09.

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 business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. On average, sell-side analysts expect that Arista Networks will post 1.97 earnings per share for the current year.

Insider Buying and Selling at Arista Networks

In related news, Director Kelly Bodnar Battles sold 1,488 shares of the firm’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 completion of the sale, the director now directly owns 8,128 shares of the company’s stock, valued at approximately $870,752.64. This trade represents a 15.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction dated 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 directly owns 42,946 shares in the company, valued at $17,721,666.90. The trade was a 4.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 259,944 shares of company stock worth $30,214,186 over the last quarter. 3.54% of the stock is currently owned by company insiders.

Institutional Trading of Arista Networks

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Stock Yards Bank & Trust Co. purchased a new position in shares of Arista Networks in the fourth quarter valued at approximately $242,000. Silver Oak Securities Incorporated lifted its holdings in Arista Networks by 395.8% during the 4th quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company’s stock worth $2,072,000 after buying an additional 14,843 shares in the last quarter. Proactive Wealth Strategies LLC boosted its position in Arista Networks by 387.6% in the 4th quarter. Proactive Wealth Strategies LLC now owns 6,120 shares of the technology company’s stock valued at $676,000 after buying an additional 4,865 shares during the period. Chevy Chase Trust Holdings LLC grew its stake in shares of Arista Networks by 292.7% in the fourth quarter. Chevy Chase Trust Holdings LLC now owns 602,541 shares of the technology company’s stock worth $66,599,000 after acquiring an additional 449,088 shares in the last quarter. Finally, 5T Wealth LLC purchased a new stake in shares of Arista Networks during the fourth quarter worth $1,046,000. 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.