Arista Networks (NYSE:ANET) had its target price raised by Morgan Stanley from $210.00 to $260.00 in a research report sent to investors on Thursday, December 21st, MarketBeat Ratings reports. Morgan Stanley currently has an overweight rating on the technology company’s stock.
Several other brokerages also recently commented on ANET. Bank of America upped their price target on shares of Arista Networks from $210.00 to $250.00 and gave the company a neutral rating in a research report on Wednesday, November 29th. Citigroup increased their target price on shares of Arista Networks to $250.00 and gave the stock a buy rating in a research report on Friday, December 1st. Deutsche Bank reiterated a buy rating and issued a $250.00 target price on shares of Arista Networks in a research report on Friday, December 1st. Stifel Nicolaus reiterated a buy rating and issued a $270.00 target price on shares of Arista Networks in a research report on Thursday, December 14th. Finally, Wells Fargo & Co began coverage on shares of Arista Networks in a research report on Tuesday, November 14th. They issued a market perform rating and a $235.00 target price for the company. Fourteen research 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 stock. The stock has an average rating of Buy and an average price target of $205.66.
Shares of Arista Networks (ANET) opened at $259.03 on Thursday. The company has a current ratio of 3.66, a quick ratio of 3.07 and a debt-to-equity ratio of 0.03. The firm has a market cap of $18,935.35, a P/E ratio of 62.27, a P/E/G ratio of 1.98 and a beta of 1.38. Arista Networks has a 1-year low of $87.33 and a 1-year high of $262.84.
In other news, insider Anshul Sadana sold 12,000 shares of Arista Networks stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $189.95, for a total transaction of $2,279,400.00. Following the sale, the insider now directly owns 86,788 shares in the company, valued at approximately $16,485,380.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Marc Taxay sold 2,000 shares of Arista Networks stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $230.09, for a total transaction of $460,180.00. Following the transaction, the senior vice president now directly owns 12,335 shares of the company’s stock, valued at $2,838,160.15. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 606,126 shares of company stock worth $138,901,364. 28.09% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in ANET. PNC Financial Services Group Inc. raised its stake in shares of Arista Networks by 20.5% in the second quarter. PNC Financial Services Group Inc. now owns 740 shares of the technology company’s stock worth $111,000 after acquiring an additional 126 shares during the last quarter. Fieldpoint Private Securities LLC bought a new position in shares of Arista Networks in the third quarter worth about $130,000. D.A. Davidson & CO. raised its stake in shares of Arista Networks by 3.2% in the second quarter. D.A. Davidson & CO. now owns 982 shares of the technology company’s stock worth $147,000 after acquiring an additional 30 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Arista Networks in the third quarter worth about $151,000. Finally, MML Investors Services LLC bought a new position in shares of Arista Networks in the second quarter worth about $223,000. 57.96% of the stock is owned by institutional investors.
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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.
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