Arista Networks, Inc. (ANET) Sets New 1-Year High on Analyst Upgrade

Arista Networks, Inc. (NYSE:ANET) hit a new 52-week high during trading on Monday after UBS AG raised their price target on the stock from $165.00 to $200.00. UBS AG currently has a neutral rating on the stock. Arista Networks traded as high as $204.61 and last traded at $204.75, with a volume of 485704 shares changing hands. The stock had previously closed at $201.49.

Other equities research analysts have also issued research reports about the company. Cowen and Company reiterated a “buy” rating and issued a $168.00 target price (up previously from $145.00) on shares of Arista Networks in a research report on Friday, August 4th. Citigroup Inc. upped their target price on Arista Networks from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Deutsche Bank AG reiterated a “buy” rating and issued a $165.00 target price (up previously from $156.00) on shares of Arista Networks in a research report on Monday, July 17th. Argus reiterated a “buy” rating on shares of Arista Networks in a research report on Monday, August 7th. Finally, Needham & Company LLC restated a “buy” rating and issued a $175.00 price objective on shares of Arista Networks in a research report on Tuesday, September 12th. Fifteen analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $183.07.

In other Arista Networks news, SVP Kenneth Duda sold 8,687 shares of the company’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $174.94, for a total value of $1,519,703.78. Following the completion of the sale, the senior vice president now directly owns 1,593 shares in the company, valued at approximately $278,679.42. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Marc Taxay sold 2,000 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $176.09, for a total value of $352,180.00. Following the completion of the sale, the senior vice president now owns 13,002 shares of the company’s stock, valued at $2,289,522.18. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,962 shares of company stock valued at $7,532,927. 28.09% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the business. PNC Financial Services Group Inc. grew its holdings in Arista Networks by 20.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 740 shares of the technology company’s stock valued at $111,000 after buying an additional 126 shares in the last quarter. LS Investment Advisors LLC purchased a new stake in Arista Networks in the 2nd quarter valued at $119,000. D.A. Davidson & CO. grew its holdings in Arista Networks by 3.2% in the 2nd quarter. D.A. Davidson & CO. now owns 982 shares of the technology company’s stock valued at $147,000 after buying an additional 30 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Arista Networks in the 3rd quarter valued at $151,000. Finally, Daiwa Securities Group Inc. purchased a new stake in Arista Networks in the 2nd quarter valued at $202,000. Institutional investors own 59.43% of the company’s stock.

The company has a current ratio of 3.19, a quick ratio of 2.60 and a debt-to-equity ratio of 0.03. The company has a market cap of $15,380.00, a price-to-earnings ratio of 48.44, a PEG ratio of 2.56 and a beta of 1.31.

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Arista Networks Company Profile

Arista Networks, Inc is a supplier of cloud networking solutions that use software innovations to address the needs of Internet companies, cloud service providers and data centers for enterprise support. It develops, markets and sells cloud networking solutions, which consist of its Gigabit Ethernet switches and related software.

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