ANET has been the topic of a number of other reports. Zacks Investment Research lowered shares of Arista Networks from a buy rating to a hold rating in a research note on Wednesday, August 8th. Morgan Stanley downgraded Arista Networks from an overweight rating to an equal weight rating and set a $310.00 price objective for the company. in a research report on Tuesday, September 4th. William Blair reissued an outperform rating on shares of Arista Networks in a research report on Monday, September 17th. Goldman Sachs Group downgraded Arista Networks from a conviction-buy rating to a buy rating in a research report on Thursday, October 4th. Finally, Berenberg Bank set a $350.00 price objective on Arista Networks and gave the stock a buy rating in a research report on Wednesday, September 19th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $291.83.
ANET traded down $7.77 on Friday, hitting $244.43. The company had a trading volume of 778,470 shares, compared to its average volume of 1,201,464. The firm has a market cap of $19.12 billion, a P/E ratio of 52.57, a price-to-earnings-growth ratio of 1.76 and a beta of 1.56. Arista Networks has a 1 year low of $206.86 and a 1 year high of $313.37. The company has a current ratio of 4.51, a quick ratio of 4.11 and a debt-to-equity ratio of 0.02.
In other Arista Networks news, Director Nikos Theodosopoulos sold 110 shares of the stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $273.27, for a total value of $30,059.70. Following the completion of the transaction, the director now owns 2,073 shares in the company, valued at $566,488.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John F. Mccool sold 1,218 shares of the stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $275.28, for a total value of $335,291.04. The disclosure for this sale can be found here. Insiders have sold 203,820 shares of company stock valued at $60,871,675 in the last 90 days. Company insiders own 24.95% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. HRT Financial LLC acquired a new stake in Arista Networks in the second quarter valued at $252,000. NorthCoast Asset Management LLC grew its holdings in Arista Networks by 377.6% in the second quarter. NorthCoast Asset Management LLC now owns 73,853 shares of the technology company’s stock valued at $19,016,000 after purchasing an additional 58,389 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in Arista Networks by 1.4% in the second quarter. Public Employees Retirement System of Ohio now owns 35,479 shares of the technology company’s stock valued at $9,135,000 after purchasing an additional 484 shares during the last quarter. Stanley Laman Group Ltd. grew its holdings in Arista Networks by 1.5% in the second quarter. Stanley Laman Group Ltd. now owns 22,688 shares of the technology company’s stock valued at $5,842,000 after purchasing an additional 330 shares during the last quarter. Finally, Schroder Investment Management Group acquired a new stake in Arista Networks in the second quarter valued at $1,396,000. Hedge funds and other institutional investors own 54.32% of the company’s stock.
Arista Networks Company Profile
Arista Networks, Inc provides cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of its extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms, including universal leaf, spline, and universal spine products.
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