Arista Networks (NYSE:ANET) Price Target Cut to $55.00 by Analysts at Rosenblatt Securities

Arista Networks (NYSE:ANET - Free Report) had its target price decreased by Rosenblatt Securities from $85.00 to $55.00 in a research report report published on Tuesday morning,Benzinga reports. Rosenblatt Securities currently has a sell rating on the technology company's stock.

Other equities analysts also recently issued research reports about the company. The Goldman Sachs Group restated a "buy" rating on shares of Arista Networks in a research report on Monday, March 3rd. Piper Sandler decreased their price objective on Arista Networks from $108.00 to $76.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Barclays reaffirmed an "overweight" rating on shares of Arista Networks in a research note on Monday, March 3rd. Morgan Stanley reduced their target price on shares of Arista Networks from $118.00 to $73.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $145.00 price objective on shares of Arista Networks in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Arista Networks has a consensus rating of "Moderate Buy" and an average price target of $104.29.

Arista Networks Price Performance

ANET stock traded up $2.67 during mid-day trading on Tuesday, reaching $77.96. 12,456,039 shares of the company's stock were exchanged, compared to its average volume of 9,098,187. The company has a market cap of $97.89 billion, a price-to-earnings ratio of 35.12, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30. The stock's 50 day moving average is $80.57 and its 200 day moving average is $98.34. Arista Networks has a 12-month low of $59.43 and a 12-month high of $133.58.

Arista Networks (NYSE:ANET - Get Free Report) last released 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 40.72% and a return on equity of 29.91%. The business had revenue of $1.93 billion during the quarter, compared to analysts' expectations of $1.90 billion. On average, research analysts forecast that Arista Networks will post 2.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Marc Taxay sold 51,848 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $88.59, for a total transaction of $4,593,214.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kelly Bodnar Battles sold 1,488 shares of the business's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $107.13, for a total transaction of $159,409.44. Following the sale, the director now owns 8,128 shares in the company, valued at $870,752.64. This trade represents a 15.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 412,355 shares of company stock valued at $39,446,799. 3.54% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Caitlin John LLC increased its position in shares of Arista Networks by 174.7% during the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company's stock worth $26,000 after acquiring an additional 152 shares during the period. Capital Advisors Ltd. LLC grew its stake in Arista Networks by 335.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock worth $27,000 after purchasing an additional 191 shares in the last quarter. HighMark Wealth Management LLC increased its holdings in Arista Networks by 179.7% during the 1st quarter. HighMark Wealth Management LLC now owns 358 shares of the technology company's stock worth $28,000 after purchasing an additional 230 shares during the period. Cranbrook Wealth Management LLC raised its position in Arista Networks by 300.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company's stock valued at $29,000 after purchasing an additional 198 shares in the last quarter. Finally, Trust Co. of Vermont boosted its stake in shares of Arista Networks by 300.0% in the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company's stock valued at $29,000 after buying an additional 198 shares during the period. 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.