Arista Networks (ANET) Price Target Raised to $250.00 at Citigroup
Several other equities analysts also recently commented on ANET. Royal Bank Of Canada boosted their price objective on Arista Networks from $135.00 to $160.00 and gave the company a sector perform rating in a research report on Friday, August 4th. Barclays boosted their price objective on Arista Networks from $185.00 to $200.00 and gave the company an overweight rating in a research report on Friday, August 4th. They noted that the move was a valuation call. William Blair upgraded Arista Networks from a market perform rating to an outperform rating in a research report on Friday, August 4th. J P Morgan Chase & Co upgraded Arista Networks from a neutral rating to an overweight rating and boosted their price objective for the company from $144.00 to $186.00 in a research report on Friday, August 4th. Finally, BMO Capital Markets restated an outperform rating and issued a $190.00 price objective (up from $167.00) on shares of Arista Networks in a research report on Friday, August 4th. Sixteen investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Arista Networks currently has an average rating of Buy and a consensus price target of $192.55.
Shares of Arista Networks (NYSE ANET) traded down $4.47 during trading on Friday, hitting $228.65. The stock had a trading volume of 1,138,572 shares, compared to its average volume of 927,059. Arista Networks has a fifty-two week low of $87.33 and a fifty-two week high of $245.65. The stock has a market capitalization of $17,041.22, a P/E ratio of 56.04, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. The company has a quick ratio of 3.07, a current ratio of 3.66 and a debt-to-equity ratio of 0.03.
In other news, insider Jayshree Ullal sold 52,557 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $231.82, for a total transaction of $12,183,763.74. Following the transaction, the insider now owns 3,564 shares of the company’s stock, valued at $826,206.48. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Andreas Bechtolsheim sold 39,680 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $241.92, for a total value of $9,599,385.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 489,512 shares of company stock worth $110,575,560. Insiders own 28.09% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in ANET. Fieldpoint Private Securities LLC purchased a new stake in Arista Networks during the third quarter worth $130,000. PNC Financial Services Group Inc. lifted its holdings in Arista Networks by 20.5% during the second quarter. PNC Financial Services Group Inc. now owns 740 shares of the technology company’s stock worth $111,000 after buying an additional 126 shares during the period. LS Investment Advisors LLC purchased a new stake in Arista Networks during the second quarter worth $119,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Arista Networks during the third quarter worth $151,000. Finally, D.A. Davidson & CO. lifted its holdings in Arista Networks by 3.2% during the second quarter. D.A. Davidson & CO. now owns 982 shares of the technology company’s stock worth $147,000 after buying an additional 30 shares during the period. Hedge funds and other institutional investors own 58.04% 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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