Arista Networks (ANET) Now Covered by Goldman Sachs Group

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

ANET has been the topic of several other reports. UBS Group raised their target price on Arista Networks from $165.00 to $200.00 and gave the stock a neutral rating in a research note on Friday, November 3rd. Morgan Stanley lifted their price objective on Arista Networks from $210.00 to $260.00 and gave the company an overweight rating in a research report on Thursday, December 21st. BidaskClub raised Arista Networks from a buy rating to a strong-buy rating in a research report on Tuesday, October 31st. Loop Capital assumed coverage on Arista Networks in a research report on Monday, January 29th. They set a hold rating and a $250.00 price objective on the stock. Finally, DA Davidson raised Arista Networks from a neutral rating to a buy rating and set a $224.00 price objective on the stock in a research report on Friday, November 3rd. Fifteen equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Arista Networks has a consensus rating of Buy and a consensus target price of $223.31.

Shares of Arista Networks (NYSE ANET) opened at $281.62 on Wednesday. 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 stock has a market capitalization of $19,911.15, a PE ratio of 65.48, a P/E/G ratio of 2.10 and a beta of 1.47. Arista Networks has a 12 month low of $95.19 and a 12 month high of $289.07.

In related news, insider Jayshree Ullal sold 72,443 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 3,564 shares in the company, valued at approximately $805,321.44. 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 the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $230.09, for a total transaction of $460,180.00. Following the completion of the transaction, the senior vice president now 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 90 days, insiders sold 531,746 shares of company stock valued at $124,599,246. 28.09% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in ANET. PNC Financial Services Group Inc. raised its holdings 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 worth $111,000 after acquiring an additional 126 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its holdings in Arista Networks by 164.5% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 484 shares of the technology company’s stock worth $114,000 after acquiring an additional 301 shares during the last quarter. Fieldpoint Private Securities LLC purchased a new position in Arista Networks in the 3rd quarter worth approximately $130,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Arista Networks in the 3rd quarter worth approximately $151,000. Finally, TRUE Private Wealth Advisors purchased a new position in Arista Networks in the 4th quarter worth approximately $210,000. Institutional investors own 58.11% of the company’s stock.

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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.

Analyst Recommendations for Arista Networks (NYSE:ANET)

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