BMO Capital Markets upgraded shares of Arista Networks (NYSE:ANET) from a market perform rating to an outperform rating in a research report released on Wednesday, October 17th, The Fly reports. The firm currently has $279.00 target price on the technology company’s stock. The analysts noted that the move was a valuation call.
A number of other research firms have also weighed in on ANET. Argus upped their target price on shares of Arista Networks to $320.00 and gave the stock a buy rating in a report on Monday, August 6th. UBS Group began coverage on shares of Arista Networks in a research note on Wednesday, September 26th. They issued a neutral rating and a $290.00 price objective for the company. ValuEngine lowered shares of Arista Networks from a buy rating to a hold rating in a research note on Saturday, October 6th. Piper Jaffray Companies upgraded shares of Arista Networks from a neutral rating to an overweight rating and set a $315.00 price objective for the company in a research note on Monday, July 9th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Arista Networks from $282.00 to $287.00 and gave the company a hold rating in a research note on Monday, July 23rd. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Arista Networks presently has a consensus rating of Buy and a consensus price target of $291.83.
Shares of NYSE ANET traded down $7.77 during trading on Wednesday, hitting $244.43. 778,470 shares of the company traded hands, compared to its average volume of 1,201,464. The company has a current ratio of 4.51, a quick ratio of 4.11 and a debt-to-equity ratio of 0.02. Arista Networks has a fifty-two week low of $206.86 and a fifty-two week high of $313.37. The firm has a market capitalization of $19.12 billion, a P/E ratio of 52.57, a P/E/G ratio of 1.76 and a beta of 1.56.
In other news, insider John F. Mccool sold 1,218 shares of the firm’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $275.28, for a total transaction of $335,291.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Kenneth Duda sold 11,000 shares of the firm’s stock in a transaction on Wednesday, October 10th. The shares were sold at an average price of $229.24, for a total transaction of $2,521,640.00. Following the sale, the senior vice president now owns 2,664 shares in the company, valued at approximately $610,695.36. The disclosure for this sale can be found here. Insiders sold a total of 203,820 shares of company stock worth $60,871,675 over the last quarter. Corporate insiders own 24.95% of the company’s stock.
Large investors have recently modified their holdings of the stock. Dupont Capital Management Corp purchased a new position in Arista Networks in the 3rd quarter worth $109,000. OLD Mutual Customised Solutions Proprietary Ltd. bought a new stake in Arista Networks in the 2nd quarter worth $129,000. Signet Financial Management LLC bought a new stake in Arista Networks in the 2nd quarter worth $142,000. Bbva Compass Bancshares Inc. bought a new stake in Arista Networks in the 3rd quarter worth $157,000. Finally, Cerebellum GP LLC bought a new stake in Arista Networks in the 2nd quarter worth $159,000. Institutional investors own 54.32% of the company’s stock.
About Arista Networks
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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