Arista Networks (NYSE:ANET) had its price target boosted by Citigroup from $315.00 to $340.00 in a research report report published on Friday. They currently have a buy rating on the technology company’s stock.
Other equities research analysts also recently issued reports about the stock. Piper Jaffray Companies began coverage on shares of Arista Networks in a research report on Monday, November 13th. They set a neutral rating and a $230.00 target price for the company. BMO Capital Markets reissued a hold rating and set a $205.00 target price on shares of Arista Networks in a research report on Thursday, February 15th. Stifel Nicolaus reissued a buy rating and set a $270.00 target price on shares of Arista Networks in a research report on Thursday, December 14th. Needham & Company LLC boosted their target price on shares of Arista Networks from $300.00 to $315.00 and gave the stock a buy rating in a research report on Friday, February 16th. Finally, Zacks Investment Research downgraded shares of Arista Networks from a buy rating to a hold rating in a research report on Wednesday, February 7th. Fourteen equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. Arista Networks presently has a consensus rating of Buy and an average target price of $249.42.
Shares of Arista Networks (NYSE:ANET) opened at $297.40 on Friday. The company has a current ratio of 4.28, a quick ratio of 3.70 and a debt-to-equity ratio of 0.02. The company has a market cap of $21,740.00, a PE ratio of 49.82, a PEG ratio of 2.14 and a beta of 1.46. Arista Networks has a 52-week low of $124.81 and a 52-week high of $311.67.
In other Arista Networks news, CEO Jayshree Ullal sold 5,000 shares of the business’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $282.55, for a total value of $1,412,750.00. Following the transaction, the chief executive officer now directly owns 5,900 shares in the company, valued at $1,667,045. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Marc Taxay sold 2,000 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $235.58, for a total transaction of $471,160.00. Following the completion of the transaction, the senior vice president now owns 13,460 shares in the company, valued at $3,170,906.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 213,203 shares of company stock worth $52,290,318. Corporate insiders own 28.09% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Strs Ohio boosted its stake in Arista Networks by 28.9% in the fourth quarter. Strs Ohio now owns 78,103 shares of the technology company’s stock valued at $18,399,000 after acquiring an additional 17,500 shares during the last quarter. KBC Group NV lifted its stake in shares of Arista Networks by 341.5% during the 4th quarter. KBC Group NV now owns 14,983 shares of the technology company’s stock valued at $3,530,000 after buying an additional 11,589 shares in the last quarter. C M Bidwell & Associates Ltd. lifted its stake in shares of Arista Networks by 78.4% during the 4th quarter. C M Bidwell & Associates Ltd. now owns 3,880 shares of the technology company’s stock valued at $914,000 after buying an additional 1,705 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Arista Networks by 8.0% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 142,562 shares of the technology company’s stock valued at $27,031,000 after buying an additional 10,593 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund purchased a new stake in shares of Arista Networks during the 3rd quarter valued at approximately $2,785,000. Hedge funds and other institutional investors own 56.52% of the company’s stock.
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About Arista Networks
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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