Arista Networks (NYSE:ANET)‘s stock had its “overweight” rating restated by stock analysts at KeyCorp in a note issued to investors on Thursday. They presently have a $240.00 price target on the technology company’s stock, up from their previous price target of $213.00. KeyCorp’s price objective points to a potential upside of 5.47% from the stock’s current price.

ANET has been the topic of several other research reports. Citigroup boosted their target price on Arista Networks to $250.00 and gave the company a “buy” rating in a research note on Friday, December 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $217.00 price target (up previously from $175.00) on shares of Arista Networks in a research report on Friday, November 3rd. They noted that the move was a valuation call. Nomura boosted their price target on Arista Networks from $173.00 to $185.00 and gave the stock a “neutral” rating in a research report on Friday, November 3rd. BMO Capital Markets boosted their price target on Arista Networks from $190.00 to $205.00 and gave the stock a “market perform” rating in a research report on Friday, November 3rd. They noted that the move was a valuation call. Finally, Royal Bank of Canada boosted their price target on Arista Networks from $190.00 to $200.00 and gave the stock a “sector perform” rating in a research report on Friday, November 3rd. Fifteen equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $193.93.

Shares of Arista Networks (NYSE ANET) traded up $2.43 on Thursday, reaching $227.56. The company’s stock had a trading volume of 275,564 shares, compared to its average volume of 831,518. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.07 and a current ratio of 3.66. Arista Networks has a 12-month low of $87.33 and a 12-month high of $245.65. The company has a market capitalization of $15,954.21, a PE ratio of 52.46, a P/E/G ratio of 1.98 and a beta of 1.38.

In related news, insider Andreas Bechtolsheim sold 39,680 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $241.92, for a total transaction of $9,599,385.60. Following the completion of the sale, the insider now owns 73,102 shares of the company’s stock, valued at $17,684,835.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Marc Taxay sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $190.47, for a total value of $380,940.00. Following the sale, the senior vice president now directly owns 13,002 shares of the company’s stock, valued at approximately $2,476,490.94. The disclosure for this sale can be found here. In the last three months, insiders sold 486,325 shares of company stock valued at $110,320,931. Insiders own 28.09% of the company’s stock.

Large investors have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC bought a new position in shares of Arista Networks in the third quarter valued at approximately $1,146,000. Public Employees Retirement System of Ohio lifted its holdings in shares of Arista Networks by 43.8% in the third quarter. Public Employees Retirement System of Ohio now owns 31,802 shares of the technology company’s stock valued at $6,030,000 after purchasing an additional 9,681 shares in the last quarter. Fieldpoint Private Securities LLC bought a new position in shares of Arista Networks in the third quarter valued at approximately $130,000. Neuberger Berman Group LLC bought a new position in shares of Arista Networks in the third quarter valued at approximately $5,351,000. Finally, California Public Employees Retirement System lifted its holdings in shares of Arista Networks by 6.9% in the third quarter. California Public Employees Retirement System now owns 98,175 shares of the technology company’s stock valued at $18,615,000 after purchasing an additional 6,375 shares in the last quarter. Institutional investors and hedge funds own 58.22% of the company’s stock.

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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.

Analyst Recommendations for Arista Networks (NYSE:ANET)

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