Arista Networks (NYSE:ANET) Price Target Cut to $73.00 by Analysts at Morgan Stanley

Arista Networks (NYSE:ANET) had its price objective cut by Morgan Stanley from $118.00 to $73.00 in a research report report published on Tuesday,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

A number of other equities research analysts have also recently commented on the stock. Erste Group Bank cut shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, March 17th. UBS Group upgraded Arista Networks from a “neutral” rating to a “buy” rating and raised their target price for the company from $112.00 to $115.00 in a research note on Wednesday, March 5th. Rosenblatt Securities reaffirmed a “sell” rating and set a $80.00 price target on shares of Arista Networks in a research note on Tuesday, February 18th. Barclays reissued an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. Finally, StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Arista Networks has a consensus rating of “Moderate Buy” and a consensus target price of $108.50.

Arista Networks Trading Up 1.8 %

ANET stock opened at $69.42 on Tuesday. The firm has a market cap of $87.55 billion, a PE ratio of 31.27, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30. The stock has a 50-day moving average price of $91.86 and a 200-day moving average price of $100.77. Arista Networks has a 1-year low of $59.43 and a 1-year high of $133.58.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. On average, analysts forecast that Arista Networks will post 2.2 earnings per share for the current year.

Insiders Place Their Bets

In other Arista Networks news, Director Kelly Bodnar Battles sold 1,488 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $107.13, for a total value of $159,409.44. Following the completion of the transaction, the director now owns 8,128 shares in the company, valued at $870,752.64. This represents a 15.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $77.55, for a total value of $620,400.00. Following the sale, the director now owns 139,784 shares in the company, valued at $10,840,249.20. The trade was a 5.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 411,001 shares of company stock valued at $39,362,831. Corporate insiders own 3.54% of the company’s stock.

Institutional Trading of Arista Networks

Several hedge funds have recently made changes to their positions in the company. Rhumbline Advisers increased its holdings in Arista Networks by 2.1% in the 1st quarter. Rhumbline Advisers now owns 1,908,554 shares of the technology company’s stock worth $147,875,000 after acquiring an additional 38,366 shares during the last quarter. Fifth Third Wealth Advisors LLC increased its stake in shares of Arista Networks by 109.8% in the first quarter. Fifth Third Wealth Advisors LLC now owns 46,401 shares of the technology company’s stock worth $3,595,000 after purchasing an additional 24,279 shares in the last quarter. Cerro Pacific Wealth Advisors LLC bought a new stake in shares of Arista Networks in the first quarter valued at approximately $254,000. Rooted Wealth Advisors Inc. lifted its stake in shares of Arista Networks by 60.0% during the 1st quarter. Rooted Wealth Advisors Inc. now owns 4,303 shares of the technology company’s stock valued at $333,000 after buying an additional 1,613 shares in the last quarter. Finally, Beese Fulmer Investment Management Inc. boosted its holdings in Arista Networks by 2.0% in the 1st quarter. Beese Fulmer Investment Management Inc. now owns 139,217 shares of the technology company’s stock worth $10,787,000 after buying an additional 2,764 shares during the period. 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.