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

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

A number of other research firms also recently issued reports on ANET. UBS Group increased their price target on Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Needham & Company LLC reiterated a “buy” rating and set a $145.00 target price on shares of Arista Networks in a report on Wednesday. Citigroup boosted their price target on shares of Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday. Rosenblatt Securities reiterated a “sell” rating and set a $80.00 price objective on shares of Arista Networks in a research note on Tuesday. Finally, Evercore ISI boosted their price objective on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $113.79.

Arista Networks Trading Down 6.5 %

NYSE ANET opened at $103.82 on Wednesday. The stock has a market cap of $130.79 billion, a PE ratio of 49.91, a PEG ratio of 2.87 and a beta of 1.09. Arista Networks has a 12 month low of $60.08 and a 12 month high of $133.57. The company’s 50-day moving average price is $114.08 and its 200-day moving average price is $101.54.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. As a group, sell-side analysts forecast that Arista Networks will post 1.97 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Kelly Bodnar Battles sold 1,488 shares of the firm’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 trade represents a 15.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, 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 sale, the director now owns 42,946 shares in the company, valued at approximately $17,721,666.90. The trade was a 4.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 259,944 shares of company stock worth $30,214,186 in the last three months. Corporate insiders own 3.54% of the company’s stock.

Hedge Funds Weigh In On Arista Networks

Several hedge funds and other institutional investors have recently bought and sold shares of ANET. OLD National Bancorp IN lifted its position in Arista Networks by 6.0% during the third quarter. OLD National Bancorp IN now owns 1,087 shares of the technology company’s stock valued at $417,000 after purchasing an additional 62 shares during the period. Whittier Trust Co. of Nevada Inc. raised its position in Arista Networks by 2.0% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 3,548 shares of the technology company’s stock valued at $1,362,000 after acquiring an additional 68 shares in the last quarter. Raleigh Capital Management Inc. lifted its holdings in Arista Networks by 16.6% in the third quarter. Raleigh Capital Management Inc. now owns 540 shares of the technology company’s stock valued at $207,000 after acquiring an additional 77 shares during the period. Foundations Investment Advisors LLC grew its stake in shares of Arista Networks by 5.0% during the 3rd quarter. Foundations Investment Advisors LLC now owns 653 shares of the technology company’s stock worth $251,000 after purchasing an additional 31 shares during the period. Finally, Vicus Capital purchased a new position in shares of Arista Networks during the 3rd quarter valued at approximately $211,000. 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.