Arista Networks, Inc. is a technology company that offers cloud networking solutions, including switches and routers, software-defined networking (SDN), and network operating systems. The company’s products are used by data center operators, internet companies, and service providers in various industries, and its focus on innovative and reliable products has earned it recognition from industry analysts, customers, and partners. Recently, Arista Networks has received positive ratings from analysts, with a consensus price target of $173.89. The company has also seen interest from institutional investors and hedge funds. To stay updated on the latest news and ratings for Arista Networks, interested parties can sign up for MarketBeat.com’s free daily email newsletter.
Arista Networks COO, Anshul Sadana, recently sold 43,225 shares of Arista Networks, Inc. (NYSE:ANET) stock in a transaction that took place on Wednesday, March 15th. The shares were sold at an average price of $152.43 per share, totaling to over $6.5 million. This isn’t Sadana’s first sale of ANET stock in recent times, as he also sold 10,000 shares on Thursday, March 9th, at an average price of $150.03 per share, worth a total value of $1,500,300.00.
ANET shares opened at $163.26 on Friday, and the company currently has a market cap of $50.02 billion. ANET has a price-to-earnings (P/E) ratio of 38.23 and a P/E/G ratio of 2.10, with a beta of 1.24. The company’s 50-day simple moving average is $133.22 and its 200-day simple moving average is $125.44. ANET’s 52-week low is $89.11 and its 52-week high is $164.26.
On Monday, February 13th, Arista Networks released its quarterly earnings report, with the technology company posting $1.41 earnings per share for the quarter. This was higher than the consensus estimate of $1.21 by $0.20, and the company’s quarterly revenue of $1.28 billion also exceeded the consensus estimate of $1.20 billion. Arista Networks had a net margin of 30.87% and a return on equity of 30.00%. Analysts predict that Arista Networks, Inc. will post 5.16 earnings per share for the current fiscal year.
Wall Street Analysts Weigh In
The recent sale of ANET shares by COO Anshul Sadana has caught the attention of Wall Street analysts. MarketBeat reports indicate that ANET is currently rated as a “Hold” by analysts, with a consensus target price of $144.13. The company has received a mean rating of 2.50 from 18 Wall Street analysts.
Arista Networks Receives Positive Analyst Ratings and Institutional Investor Interest
A number of analysts have recently weighed in on Arista Networks, Inc. (NYSE:ANET) shares. Wells Fargo & Company increased their target price from $160.00 to $170.00 and gave the stock an “overweight” rating on Tuesday, February 14th. The Goldman Sachs Group initiated coverage on Arista Networks with a “buy” rating on Monday, March 6th. Cowen raised their price target from $203.00 to $212.00 and gave the company an “outperform” rating on Tuesday, December 13th. Cowen again raised their price target on ANET from $212.00 to $225.00 and gave the company another “outperform” rating on Tuesday, February 14th. Finally, Barclays raised their price target from $165.00 to $177.00 and gave the company an “overweight” rating on Tuesday, February 14th. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock, according to MarketBeat.com. The stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.89.
Institutional investors and hedge funds have also recently modified their holdings of Arista Networks. Cerity Partners LLC lifted its holdings in shares of ANET by 17.0% during the second quarter, now owning 4,097 shares of the technology company’s stock worth $385,000 after purchasing an additional 594 shares during the period. Woodline Partners LP acquired a new stake in shares of ANET during the second quarter worth about $11,896,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of ANET by 15.3% during the third quarter, now owning 275,905 shares of the technology company’s stock worth $31,146,000 after purchasing an additional 36,516 shares during the period. Diversified Trust Co lifted its holdings in shares of ANET by 16.0% during the third quarter, now owning 4,896 shares of the technology company’s stock worth $553,000 after purchasing an additional 675 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of ANET by 14.8% during the second quarter, now owning 1,216,489 shares of the technology company’s stock worth $114,033,000 after purchasing an additional 156,665 shares during the period. Institutional investors and hedge funds currently own 64.30% of the company’s stock.
Arista Networks Company Profile
Arista Networks, Inc. is a technology company that develops, markets, and sells cloud networking solutions, including switches and routers, software-defined networking (SDN), and network operating systems. ANET’s products are used by data center operators, internet companies, and service providers in various industries, including financial services, technology, healthcare, and education. ANET’s customers include Fortune 500 companies, large internet enterprises, and government agencies worldwide. The company’s mission is to simplify networking with cloud-based solutions, and its focus on innovative and reliable products has earned it recognition from industry analysts, customers, and partners. ANET is headquartered in Santa Clara, California, and was founded in 2004.
Arista Networks: A Leader in Cloud Networking Solutions
Arista Networks, Inc. is a leading provider of cloud networking solutions, offering switching and routing platforms and network applications. The company was founded in 2004 by Andreas Bechtolsheim, David Cheriton, and Kenneth Duda and is headquartered in Santa Clara, California. Arista Networks is dedicated to simplifying networking with reliable and innovative products for data center operators, internet companies, and service providers in various industries. To stay up-to-date with the latest news and analyst ratings for Arista Networks, sign up for MarketBeat.com’s free daily email newsletter.
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