Arista Networks (NYSE:ANET) Sets New 12-Month High – Should You Buy?

Arista Networks, Inc. (NYSE:ANET)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $424.01 and last traded at $416.92, with a volume of 384713 shares changing hands. The stock had previously closed at $405.12.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Wells Fargo & Company upped their price objective on shares of Arista Networks from $390.00 to $460.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Morgan Stanley raised their price objective on shares of Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a report on Thursday, July 18th. Barclays upped their target price on Arista Networks from $341.00 to $495.00 and gave the stock an “overweight” rating in a report on Friday. Piper Sandler restated a “neutral” rating and issued a $421.00 target price (up previously from $345.00) on shares of Arista Networks in a research note on Friday. Finally, The Goldman Sachs Group lifted their price target on Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $395.19.

Arista Networks Stock Down 7.1 %

The business has a fifty day moving average price of $382.60 and a 200-day moving average price of $344.17. The stock has a market capitalization of $125.74 billion, a P/E ratio of 51.91, a P/E/G ratio of 3.48 and a beta of 1.08.

Shares of Arista Networks are scheduled to split on the morning of Wednesday, December 4th. The 4-1 split was announced on Thursday, November 7th. The newly minted shares will be payable to shareholders after the market closes on Tuesday, December 3rd.

Insider Transactions at Arista Networks

In other news, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $382.52, for a total transaction of $765,040.00. Following the transaction, the director now directly owns 46,946 shares of the company’s stock, valued at $17,957,783.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $382.52, for a total transaction of $765,040.00. Following the completion of the sale, the director now directly owns 46,946 shares in the company, valued at $17,957,783.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $420.36, for a total transaction of $8,407,200.00. Following the completion of the transaction, the senior vice president now owns 3,244 shares in the company, valued at $1,363,647.84. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 78,346 shares of company stock worth $30,021,432 over the last three months. 3.54% of the stock is currently owned by company insiders.

Institutional Trading of Arista Networks

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Beacon Capital Management LLC increased its holdings in Arista Networks by 500.0% in the 2nd quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock worth $27,000 after acquiring an additional 65 shares in the last quarter. LGT Financial Advisors LLC purchased a new stake in shares of Arista Networks in the second quarter worth $27,000. Byrne Asset Management LLC bought a new stake in shares of Arista Networks during the 2nd quarter valued at $33,000. Sugarloaf Wealth Management LLC purchased a new position in shares of Arista Networks during the 2nd quarter valued at $35,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in Arista Networks in the 2nd quarter worth $35,000. Hedge funds and other institutional investors 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.