Arista Networks, Inc. (NYSE:ANET) had its price target lifted by Needham & Company LLC from $217.00 to $230.00 in a research note published on Thursday morning. Needham & Company LLC currently has a buy rating on the technology company’s stock.
Several other analysts also recently commented on ANET. Stifel Nicolaus reaffirmed a hold rating and set a $145.00 price objective on shares of Arista Networks in a research report on Friday, July 21st. BidaskClub downgraded shares of Arista Networks from a buy rating to a hold rating in a research report on Tuesday, July 25th. Zacks Investment Research downgraded shares of Arista Networks from a buy rating to a hold rating in a research report on Thursday, July 27th. Royal Bank Of Canada raised their price objective on shares of Arista Networks from $135.00 to $160.00 and gave the stock a sector perform rating in a research report on Friday, August 4th. Finally, Barclays PLC raised their price objective on shares of Arista Networks from $185.00 to $200.00 and gave the stock an overweight rating in a research report on Friday, August 4th. They noted that the move was a valuation call. Sixteen equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Buy and an average price target of $187.21.
Shares of Arista Networks (NYSE ANET) traded up $2.05 during mid-day trading on Thursday, hitting $233.82. 581,200 shares of the stock traded hands, compared to its average volume of 827,183. The firm has a market cap of $16,940.00, a P/E ratio of 54.59, a price-to-earnings-growth ratio of 2.10 and a beta of 1.31. Arista Networks has a one year low of $87.33 and a one year high of $234.63. The company has a current ratio of 3.66, a quick ratio of 3.07 and a debt-to-equity ratio of 0.03.
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In other news, SVP Marc Taxay sold 7,000 shares of Arista Networks stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $211.39, for a total transaction of $1,479,730.00. Following the sale, the senior vice president now directly owns 16,002 shares in the company, valued at approximately $3,382,662.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jayshree Ullal sold 72,443 shares of Arista Networks stock in a transaction on Monday, November 13th. The stock was sold at an average price of $225.96, for a total value of $16,369,220.28. Following the sale, the insider now owns 3,564 shares in the company, valued at $805,321.44. The disclosure for this sale can be found here. Insiders have sold a total of 275,405 shares of company stock worth $58,844,707 over the last quarter. Company insiders own 28.09% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in ANET. PNC Financial Services Group Inc. increased 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 worth $111,000 after acquiring an additional 126 shares during the last quarter. LS Investment Advisors LLC purchased a new stake in Arista Networks in the 2nd quarter worth about $119,000. Fieldpoint Private Securities LLC purchased a new stake in Arista Networks in the 3rd quarter worth about $130,000. D.A. Davidson & CO. increased 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 worth $147,000 after acquiring an additional 30 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Arista Networks in the 3rd quarter worth about $151,000. 59.21% of the stock is owned by institutional investors.
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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