Goldman Sachs Group started coverage on shares of Arista Networks (NYSE:ANET) in a research report released on Wednesday, Marketbeat reports. The brokerage issued a buy rating and a $320.00 price target on the technology company’s stock.

Other analysts have also recently issued research reports about the stock. DA Davidson raised shares of Arista Networks from a neutral rating to a buy rating and set a $224.00 price objective on the stock in a report on Friday, November 3rd. Piper Jaffray Companies began coverage on shares of Arista Networks in a report on Monday, November 13th. They set a neutral rating and a $230.00 price objective on the stock. Needham & Company LLC reissued a buy rating and set a $217.00 price objective (up previously from $175.00) on shares of Arista Networks in a report on Friday, November 3rd. They noted that the move was a valuation call. Stifel Nicolaus reissued a buy rating and set a $270.00 price objective on shares of Arista Networks in a report on Thursday, December 14th. Finally, Royal Bank of Canada raised their price objective on shares of Arista Networks from $190.00 to $200.00 and gave the stock a sector perform rating in a report on Friday, November 3rd. Fifteen analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $223.31.

Shares of Arista Networks (NYSE:ANET) opened at $272.55 on Wednesday. The company has a current ratio of 3.66, a quick ratio of 3.07 and a debt-to-equity ratio of 0.03. Arista Networks has a 1-year low of $97.27 and a 1-year high of $289.07. The firm has a market cap of $19,336.58, a P/E ratio of 63.59, a price-to-earnings-growth ratio of 2.04 and a beta of 1.47.

In related news, insider Jayshree Ullal sold 72,443 shares of Arista Networks stock in a transaction on Monday, November 13th. The shares were sold at an average price of $225.96, for a total value of $16,369,220.28. Following the transaction, the insider now directly owns 3,564 shares in the company, valued at approximately $805,321.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Marc Taxay sold 2,000 shares of Arista Networks stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $275.31, for a total transaction of $550,620.00. Following the completion of the transaction, the senior vice president now owns 12,294 shares in the company, valued at $3,384,661.14. The disclosure for this sale can be found here. Insiders sold a total of 458,126 shares of company stock worth $108,380,024 over the last ninety days. Corporate insiders own 28.09% of the company’s stock.

A number of large investors have recently bought and sold shares of ANET. ProShare Advisors LLC purchased a new position in Arista Networks in the 2nd quarter valued at $233,000. PNC Financial Services Group Inc. grew its position in Arista Networks by 20.5% in the 2nd 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 during the last quarter. Northern Trust Corp grew its position in Arista Networks by 27.3% in the 2nd quarter. Northern Trust Corp now owns 272,453 shares of the technology company’s stock valued at $40,810,000 after buying an additional 58,422 shares during the last quarter. M&T Bank Corp grew its position in Arista Networks by 6.4% in the 2nd quarter. M&T Bank Corp now owns 2,315 shares of the technology company’s stock valued at $347,000 after buying an additional 140 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Arista Networks by 0.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 211,624 shares of the technology company’s stock valued at $31,700,000 after buying an additional 858 shares during the last quarter. Hedge funds and other institutional investors own 58.11% 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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