Arista Networks, Inc. (ANET) Receives $189.41 Consensus PT from Analysts

Arista Networks, Inc. (NYSE:ANET) has earned a consensus rating of “Buy” from the thirty-five brokerages that are presently covering the firm, MarketBeat reports. Sixteen investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $192.00.

Several research firms have recently issued reports on ANET. UBS increased their price objective on shares of Arista Networks from $165.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, November 3rd. BidaskClub raised shares of Arista Networks from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 31st. Needham & Company LLC reissued a “buy” rating and issued a $175.00 price objective on shares of Arista Networks in a research report on Tuesday, September 12th. Argus reissued a “buy” rating on shares of Arista Networks in a research report on Monday, August 7th. Finally, DA Davidson raised shares of Arista Networks from a “neutral” rating to a “buy” rating and set a $224.00 price objective for the company in a research report on Friday, November 3rd.

Shares of Arista Networks (NYSE ANET) traded down $4.47 during mid-day trading on Thursday, reaching $228.65. 1,138,572 shares of the company traded hands, compared to its average volume of 927,059. Arista Networks has a 1 year low of $87.33 and a 1 year high of $245.65. The company has a quick ratio of 3.07, a current ratio of 3.66 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $16,714.54, a price-to-earnings ratio of 54.96, a price-to-earnings-growth ratio of 2.08 and a beta of 1.38.

In related news, insider Andreas Bechtolsheim sold 132,370 shares of the stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $240.17, for a total value of $31,791,302.90. Following the sale, the insider now owns 73,102 shares of the company’s stock, valued at approximately $17,556,907.34. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Marc Taxay sold 2,000 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $190.47, for a total transaction of $380,940.00. Following the completion of the sale, the senior vice president now directly owns 13,002 shares in the company, valued at approximately $2,476,490.94. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 489,512 shares of company stock worth $110,575,560. Insiders own 28.09% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. increased its holdings in shares of Arista Networks by 20.5% in the 2nd 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 period. LS Investment Advisors LLC acquired a new position in Arista Networks during the 2nd quarter valued at about $119,000. Fieldpoint Private Securities LLC acquired a new position in Arista Networks during the 3rd quarter valued at about $130,000. D.A. Davidson & CO. increased its stake in Arista Networks by 3.2% during the 2nd quarter. D.A. Davidson & CO. now owns 982 shares of the technology company’s stock valued at $147,000 after buying an additional 30 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in Arista Networks during the 3rd quarter valued at about $151,000. 58.04% 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.

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