Piper Jaffray Companies reaffirmed their hold rating on shares of Arista Networks (NYSE:ANET) in a report released on Friday. Piper Jaffray Companies currently has a $268.00 target price on the technology company’s stock.
ANET has been the topic of a number of other research reports. UBS Group lifted their price objective on Arista Networks from $165.00 to $200.00 and gave the stock a neutral rating in a research report on Friday, November 3rd. Morgan Stanley lifted their price objective on Arista Networks from $210.00 to $260.00 and gave the stock an overweight rating in a research report on Thursday, December 21st. Zacks Investment Research downgraded Arista Networks from a buy rating to a hold rating in a research report on Wednesday, February 7th. BidaskClub upgraded Arista Networks from a buy rating to a strong-buy rating in a research report on Tuesday, October 31st. Finally, Loop Capital began coverage on Arista Networks in a research report on Monday, January 29th. They set a hold rating and a $250.00 price objective on the stock. Fifteen 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’s stock. The stock currently has an average rating of Buy and a consensus price target of $245.77.
Arista Networks (NYSE ANET) opened at $249.49 on Friday. Arista Networks has a 1 year low of $110.31 and a 1 year high of $311.67. The company has a market capitalization of $18,240.00, a P/E ratio of 46.63, a P/E/G ratio of 1.92 and a beta of 1.47. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.07 and a current ratio of 3.66.
In other news, SVP Marc Taxay sold 2,000 shares of Arista Networks stock in a transaction on Friday, December 1st. The stock was sold at an average price of $230.09, for a total value of $460,180.00. Following the completion of the sale, the senior vice president now directly owns 12,335 shares of the company’s stock, valued at $2,838,160.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Andreas Bechtolsheim sold 132,370 shares of Arista Networks stock in a transaction on Friday, November 24th. The shares were sold at an average price of $240.17, for a total value of $31,791,302.90. Following the completion of the sale, the insider now directly owns 73,102 shares of the company’s stock, valued at $17,556,907.34. The disclosure for this sale can be found here. Insiders sold 333,126 shares of company stock valued at $79,827,040 over the last ninety days. Insiders own 28.09% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Compagnie Lombard Odier SCmA acquired a new stake in shares of Arista Networks in the fourth quarter valued at $100,000. PNC Financial Services Group Inc. grew its stake in shares of Arista Networks by 20.5% in the second 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. Bronfman E.L. Rothschild L.P. grew its stake in shares of Arista Networks by 164.5% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 484 shares of the technology company’s stock valued at $114,000 after buying an additional 301 shares in the last quarter. Fieldpoint Private Securities LLC acquired a new position in Arista Networks during the 3rd quarter worth $130,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in Arista Networks during the 3rd quarter worth $151,000. 58.15% of the stock is owned by institutional investors and hedge funds.
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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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