Arista Networks (NYSE:ANET) Given “Sell” Rating at Rosenblatt Securities

Rosenblatt Securities restated their sell rating on shares of Arista Networks (NYSE:ANET) in a research note published on Friday, Marketbeat reports. The brokerage currently has a $210.00 price objective on the technology company’s stock.

A number of other brokerages have also recently issued reports on ANET. Melius upgraded shares of Arista Networks from a hold rating to a buy rating in a research note on Monday, January 8th. Piper Sandler increased their price objective on shares of Arista Networks from $254.00 to $268.00 and gave the stock a neutral rating in a report on Tuesday, February 13th. JMP Securities reissued a market outperform rating and set a $325.00 price objective on shares of Arista Networks in a report on Tuesday, February 13th. Melius Research raised shares of Arista Networks from a hold rating to a buy rating and set a $300.00 target price on the stock in a research note on Monday, January 8th. Finally, KeyCorp lifted their price objective on shares of Arista Networks from $232.00 to $287.00 and gave the stock an overweight rating in a research note on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $275.59.

Arista Networks Trading Down 3.0 %

NYSE ANET opened at $263.20 on Friday. Arista Networks has a 1 year low of $131.68 and a 1 year high of $307.74. The company has a fifty day simple moving average of $281.58 and a 200 day simple moving average of $243.39. The company has a market cap of $82.28 billion, a P/E ratio of 40.06, a P/E/G ratio of 2.34 and a beta of 1.09.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the prior year, the firm earned $1.25 EPS. The business’s revenue was up 20.8% on a year-over-year basis. Equities research analysts forecast that Arista Networks will post 6.63 EPS for the current fiscal year.

Insider Buying and Selling at Arista Networks

In other news, CEO Jayshree Ullal sold 22,000 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $303.00, for a total transaction of $6,666,000.00. Following the completion of the transaction, the chief executive officer now owns 1,665,300 shares of the company’s stock, valued at $504,585,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $284.31, for a total value of $5,686,200.00. Following the completion of the sale, the senior vice president now owns 3,244 shares in the company, valued at $922,301.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jayshree Ullal sold 22,000 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $303.00, for a total value of $6,666,000.00. Following the completion of the sale, the chief executive officer now owns 1,665,300 shares of the company’s stock, valued at approximately $504,585,900. The disclosure for this sale can be found here. Insiders sold 361,036 shares of company stock valued at $102,813,921 in the last quarter. 18.99% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Arista Networks

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC purchased a new stake in shares of Arista Networks in the third quarter worth $28,000. First Command Advisory Services Inc. purchased a new stake in shares of Arista Networks during the third quarter valued at $29,000. Hollencrest Capital Management purchased a new stake in shares of Arista Networks during the first quarter valued at $30,000. Financial Synergies Wealth Advisors Inc. lifted its holdings in Arista Networks by 872.7% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock valued at $31,000 after acquiring an additional 96 shares during the period. Finally, BluePath Capital Management LLC bought a new position in Arista Networks in the third quarter valued at about $33,000. 82.47% of the stock is owned by hedge funds and other 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.