Arista Networks, Inc. (NYSE:ANET – Get Free Report) CFO Ita M. Brennan sold 10,000 shares of Arista Networks stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $200.02, for a total value of $2,000,200.00. Following the transaction, the chief financial officer now directly owns 25,053 shares of the company’s stock, valued at approximately $5,011,101.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Arista Networks Stock Performance
Shares of ANET stock opened at $212.49 on Friday. Arista Networks, Inc. has a fifty-two week low of $107.57 and a fifty-two week high of $214.26. The stock has a 50 day moving average price of $189.08 and a two-hundred day moving average price of $170.89. The company has a market capitalization of $66.11 billion, a P/E ratio of 35.42, a PEG ratio of 1.88 and a beta of 1.12.
Analysts Set New Price Targets
A number of research firms have weighed in on ANET. Morgan Stanley raised Arista Networks from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $185.00 to $220.00 in a report on Tuesday. Piper Sandler lowered Arista Networks from an “overweight” rating to a “neutral” rating and set a $190.00 target price for the company. in a report on Wednesday, October 11th. Rosenblatt Securities boosted their price objective on Arista Networks from $190.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, September 14th. Barclays boosted their price objective on Arista Networks from $179.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, August 1st. Finally, The Goldman Sachs Group boosted their price objective on Arista Networks from $193.00 to $215.00 and gave the stock a “buy” rating in a report on Tuesday, August 1st. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $206.74.
Institutional Trading of Arista Networks
Several hedge funds and other institutional investors have recently bought and sold shares of ANET. Cibc World Market Inc. lifted its position in Arista Networks by 135.9% in the first quarter. Cibc World Market Inc. now owns 34,026 shares of the technology company’s stock valued at $4,729,000 after purchasing an additional 19,602 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Arista Networks by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,261,171 shares of the technology company’s stock valued at $175,274,000 after purchasing an additional 19,738 shares during the last quarter. Prudential PLC bought a new stake in Arista Networks in the first quarter valued at approximately $676,000. Sequoia Financial Advisors LLC bought a new position in shares of Arista Networks during the first quarter valued at approximately $224,000. Finally, Vanguard Group Inc. raised its holdings in shares of Arista Networks by 1.4% during the first quarter. Vanguard Group Inc. now owns 25,268,588 shares of the technology company’s stock valued at $3,511,828,000 after acquiring an additional 353,253 shares in the last quarter. Institutional investors own 67.13% of the company’s stock.
Arista Networks Company Profile
Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms.
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