JMP Securities reissued their outperform rating on shares of Arista Networks (NYSE:ANET) in a research note issued to investors on Friday morning, The Fly reports. JMP Securities currently has a $280.00 price objective on the technology company’s stock, down from their previous price objective of $315.00.
Several other equities analysts also recently weighed in on ANET. Stifel Nicolaus decreased their target price on Arista Networks from $294.00 to $287.00 and set a buy rating on the stock in a research report on Friday, May 3rd. Nomura lifted their price objective on Arista Networks from $275.00 to $375.00 and gave the stock a buy rating in a research report on Friday, April 26th. Credit Suisse Group lifted their price objective on Arista Networks from $317.00 to $347.00 and gave the stock an outperform rating in a research report on Thursday, April 25th. Zacks Investment Research upgraded Arista Networks from a sell rating to a hold rating and set a $284.00 price objective on the stock in a research report on Monday, July 8th. Finally, Wolfe Research upgraded Arista Networks from an underperform rating to a peer perform rating in a research report on Monday, May 6th. Eight analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $310.35.
NYSE ANET opened at $230.95 on Friday. The stock has a market capitalization of $18.10 billion, a P/E ratio of 32.67, a PEG ratio of 1.54 and a beta of 1.58. The firm has a 50 day moving average price of $265.05. Arista Networks has a 1-year low of $187.08 and a 1-year high of $331.27. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.70 and a current ratio of 5.34.
In other Arista Networks news, SVP Kenneth Duda sold 10,874 shares of the firm’s 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 completion of the sale, the senior vice president now owns 811 shares of the company’s stock, valued at $213,593.07. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Marc Taxay sold 2,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $276.94, for a total value of $553,880.00. Following the sale, the senior vice president now directly owns 13,234 shares of the company’s stock, valued at approximately $3,665,023.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 212,178 shares of company stock valued at $54,189,250. 23.83% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of ANET. Swedbank acquired a new stake in shares of Arista Networks in the first quarter valued at $152,582,000. Artisan Partners Limited Partnership acquired a new stake in shares of Arista Networks in the first quarter valued at $132,213,000. First Trust Advisors LP grew its stake in shares of Arista Networks by 53.1% in the second quarter. First Trust Advisors LP now owns 1,143,852 shares of the technology company’s stock valued at $296,967,000 after buying an additional 396,782 shares in the last quarter. FMR LLC grew its stake in shares of Arista Networks by 25.1% in the first quarter. FMR LLC now owns 1,956,747 shares of the technology company’s stock valued at $615,319,000 after buying an additional 392,021 shares in the last quarter. Finally, Scout Investments Inc. grew its stake in shares of Arista Networks by 109.4% in the first quarter. Scout Investments Inc. now owns 489,326 shares of the technology company’s stock valued at $153,873,000 after buying an additional 255,663 shares in the last quarter. 57.66% of the stock is owned by institutional investors and hedge funds.
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.
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