Arista Networks (NYSE:ANET) had its price target boosted by Needham & Company LLC from $230.00 to $300.00 in a report issued on Wednesday, MarketBeat.com reports. Needham & Company LLC currently has a buy rating on the technology company’s stock.
Other equities analysts have also issued reports about the stock. Citigroup reissued a buy rating and set a $215.00 price target on shares of Arista Networks in a research report on Wednesday, September 27th. Berenberg Bank assumed coverage on shares of Arista Networks in a report on Tuesday, September 26th. They set a buy rating and a $225.00 target price for the company. BidaskClub raised shares of Arista Networks from a hold rating to a buy rating in a report on Saturday, September 23rd. KeyCorp reaffirmed a buy rating and set a $176.00 target price on shares of Arista Networks in a report on Tuesday, September 19th. Finally, Deutsche Bank reaffirmed a buy rating and set a $210.00 target price (up from $185.00) on shares of Arista Networks in a report on Monday, October 9th. Fourteen analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Arista Networks currently has a consensus rating of Buy and an average price target of $205.66.
Arista Networks (NYSE:ANET) opened at $259.03 on Wednesday. Arista Networks has a 1 year low of $87.33 and a 1 year high of $262.84. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.07 and a current ratio of 3.66. The stock has a market cap of $18,940.00, a P/E ratio of 53.74, a price-to-earnings-growth ratio of 1.98 and a beta of 1.38.
In related news, SVP Marc Taxay sold 7,000 shares of Arista Networks stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $211.39, for a total value of $1,479,730.00. Following the sale, the senior vice president now owns 16,002 shares of the company’s stock, valued at approximately $3,382,662.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kenneth Duda sold 127,576 shares of Arista Networks stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $235.15, for a total transaction of $29,999,496.40. The disclosure for this sale can be found here. Insiders sold a total of 606,126 shares of company stock worth $138,901,364 in the last three months. 28.09% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. boosted its stake in Arista Networks by 20.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 740 shares of the technology company’s stock worth $111,000 after purchasing an additional 126 shares during the last quarter. Fieldpoint Private Securities LLC acquired a new stake in Arista Networks during the 3rd quarter worth $130,000. D.A. Davidson & CO. boosted its stake in Arista Networks by 3.2% during the 2nd quarter. D.A. Davidson & CO. now owns 982 shares of the technology company’s stock worth $147,000 after purchasing an additional 30 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Arista Networks during the 3rd quarter worth $151,000. Finally, MML Investors Services LLC acquired a new stake in Arista Networks during the 2nd quarter worth $223,000. 57.96% of the stock is currently owned by institutional investors.
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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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