Arista Networks (NYSE:ANET) had its price objective raised by Royal Bank of Canada to $310.00 in a research report report published on Tuesday, The Fly reports. The firm currently has an outperform rating on the technology company’s stock.

Several other research analysts have also recently commented on ANET. JMP Securities increased their target price on shares of Arista Networks from $185.00 to $230.00 and gave the stock a market perform rating in a report on Thursday, October 26th. BidaskClub upgraded shares of Arista Networks from a buy rating to a strong-buy rating in a report on Tuesday, October 31st. DA Davidson upgraded shares of Arista Networks from a neutral rating to a buy rating and set a $224.00 target price for the company in a report on Friday, November 3rd. Needham & Company LLC reiterated a buy rating and issued a $217.00 price target (up previously from $175.00) on shares of Arista Networks in a research note on Friday, November 3rd. They noted that the move was a valuation call. Finally, BMO Capital Markets increased their price target on shares of Arista Networks from $190.00 to $205.00 and gave the company a market perform rating in a research note on Friday, November 3rd. They noted that the move was a valuation call. Fourteen equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Arista Networks presently has a consensus rating of Buy and a consensus target price of $230.17.

Arista Networks (NYSE:ANET) opened at $292.58 on Tuesday. Arista Networks has a 1-year low of $99.35 and a 1-year high of $292.73. The company has a market cap of $20,800.06, a price-to-earnings ratio of 68.40, a P/E/G ratio of 2.19 and a beta of 1.47. The company has a current ratio of 3.66, a quick ratio of 3.07 and a debt-to-equity ratio of 0.03.

In other news, SVP Marc Taxay sold 2,000 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president now owns 12,294 shares in the company, valued at approximately $3,384,661.14. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Kenneth Duda sold 127,576 shares of the firm’s stock in a transaction dated Tuesday, December 19th. The stock was 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. In the last 90 days, insiders have sold 385,683 shares of company stock valued at $92,010,804. 28.09% of the stock is currently owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. Hermes Investment Management Ltd. bought a new position in Arista Networks during the third quarter worth about $7,316,000. Sapphire Star Partners LP increased its position in Arista Networks by 56.9% during the third quarter. Sapphire Star Partners LP now owns 3,452 shares of the technology company’s stock worth $654,000 after acquiring an additional 1,252 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in Arista Networks by 8.0% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 142,562 shares of the technology company’s stock worth $27,031,000 after acquiring an additional 10,593 shares during the period. Oregon Public Employees Retirement Fund bought a new position in Arista Networks during the third quarter worth about $2,785,000. Finally, CIBC Asset Management Inc increased its position in Arista Networks by 28.7% during the third quarter. CIBC Asset Management Inc now owns 2,802 shares of the technology company’s stock worth $531,000 after acquiring an additional 624 shares during the period. 58.15% of the stock is currently owned by institutional investors and hedge funds.

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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.

The Fly

Analyst Recommendations for Arista Networks (NYSE:ANET)

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