Arista Networks (NYSE:ANET)‘s stock had its “outperform” rating reaffirmed by analysts at JMP Securities in a research report issued on Friday, The Fly reports. They presently have a $280.00 price objective on the technology company’s stock, down from their previous price objective of $315.00. JMP Securities’ price objective indicates a potential upside of 14.70% from the stock’s current price.
Several other research firms also recently issued reports on ANET. Wolfe Research raised shares of Arista Networks from an “underperform” rating to a “peer perform” rating in a research note on Monday, May 6th. Credit Suisse Group raised their price target on shares of Arista Networks from $317.00 to $347.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Zacks Investment Research raised shares of Arista Networks from a “sell” rating to a “hold” rating and set a $284.00 price target for the company in a research note on Monday, July 8th. Morgan Stanley dropped their price target on shares of Arista Networks from $300.00 to $275.00 and set an “equal weight” rating for the company in a research note on Friday, June 7th. Finally, Stifel Nicolaus dropped their price target on shares of Arista Networks from $294.00 to $287.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. Eight equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $310.35.
Shares of ANET stock traded down $28.10 during trading hours on Friday, hitting $244.12. 2,990,317 shares of the company’s stock traded hands, compared to its average volume of 733,457. The firm has a 50 day moving average price of $264.80. The stock has a market cap of $20.86 billion, a PE ratio of 34.53, a PEG ratio of 1.72 and a beta of 1.58. Arista Networks has a 12 month low of $187.08 and a 12 month high of $331.27. The company has a current ratio of 5.34, a quick ratio of 4.70 and a debt-to-equity ratio of 0.04.
In related news, insider Ita M. Brennan sold 5,000 shares of Arista Networks stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $243.94, for a total transaction of $1,219,700.00. Following the completion of the transaction, the insider now owns 6,830 shares of the company’s stock, valued at $1,666,110.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Kenneth Duda sold 10,874 shares of Arista Networks stock in a transaction on Friday, May 10th. The stock was sold at an average price of $263.37, for a total transaction of $2,863,885.38. Following the transaction, the senior vice president now directly owns 811 shares of the company’s stock, valued at approximately $213,593.07. The disclosure for this sale can be found here. Insiders have sold 212,178 shares of company stock valued at $54,164,670 in the last three months. 23.83% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of ANET. Geode Capital Management LLC grew its holdings in Arista Networks by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 679,899 shares of the technology company’s stock worth $143,006,000 after purchasing an additional 15,438 shares during the period. Municipal Employees Retirement System of Michigan acquired a new stake in Arista Networks in the fourth quarter worth $291,000. American Century Companies Inc. grew its holdings in Arista Networks by 82.4% in the fourth quarter. American Century Companies Inc. now owns 98,264 shares of the technology company’s stock worth $20,704,000 after purchasing an additional 44,386 shares during the period. Malaga Cove Capital LLC grew its holdings in Arista Networks by 2.8% in the first quarter. Malaga Cove Capital LLC now owns 2,530 shares of the technology company’s stock worth $796,000 after purchasing an additional 70 shares during the period. Finally, Ingalls & Snyder LLC acquired a new stake in Arista Networks in the first quarter worth $220,000. Institutional investors and hedge funds own 57.75% of the company’s stock.
About Arista Networks
Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of 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.
See Also: Return on Equity (ROE)
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