Equities research analysts at Loop Capital initiated coverage on shares of Arista Networks (NYSE:ANET) in a report released on Monday, The Fly reports. The brokerage set a “hold” rating on the technology company’s stock.
A number of other analysts have also recently commented on the stock. JMP Securities increased their price target on shares of Arista Networks from $230.00 to $315.00 and gave the company a “market perform” rating in a research note on Friday. Citigroup increased their price target on shares of Arista Networks from $275.00 to $315.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. Morgan Stanley increased their price target on shares of Arista Networks to $310.00 and gave the company an “overweight” rating in a research note on Tuesday, January 23rd. Deutsche Bank cut shares of Arista Networks from a “buy” rating to a “hold” rating and set a $245.00 price target for the company. in a research note on Tuesday, January 23rd. Finally, Needham & Company LLC increased their price target on shares of Arista Networks from $230.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. Sixteen research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $215.39.
Shares of Arista Networks (NYSE ANET) traded down $5.51 on Monday, reaching $277.99. 734,872 shares of the company traded hands, compared to its average volume of 720,236. Arista Networks has a fifty-two week low of $92.35 and a fifty-two week high of $284.76. The firm has a market capitalization of $20,320.00, a PE ratio of 57.67, a price-to-earnings-growth ratio of 2.17 and a beta of 1.38. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.66 and a quick ratio of 3.07.
In related news, insider Anshul Sadana sold 24,000 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $256.25, for a total transaction of $6,150,000.00. Following the transaction, the insider now directly owns 80,972 shares of the company’s stock, valued at $20,749,075. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Marc Taxay sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $211.39, for a total transaction of $1,479,730.00. Following the transaction, the senior vice president now directly owns 16,002 shares in the company, valued at $3,382,662.78. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 618,126 shares of company stock valued at $142,771,964. 28.09% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. IFM Investors Pty Ltd bought a new position in Arista Networks during the fourth quarter worth about $316,000. Northstar Asset Management LLC bought a new position in Arista Networks during the fourth quarter worth about $212,000. Foundry Partners LLC bought a new position in Arista Networks during the fourth quarter worth about $237,000. Robeco Institutional Asset Management B.V. increased its position in Arista Networks by 100.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 62,066 shares of the technology company’s stock worth $14,622,000 after acquiring an additional 31,168 shares during the period. Finally, Taylor Frigon Capital Management LLC bought a new position in Arista Networks during the fourth quarter worth about $3,587,000. 58.16% of the stock is currently owned by institutional investors and hedge funds.
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.
