Arista Networks, Inc. (ANET) Earns Neutral Rating from Analysts at Piper Jaffray Companies

Piper Jaffray Companies assumed coverage on shares of Arista Networks, Inc. (NYSE:ANET) in a report published on Monday, Marketbeat Ratings reports. The firm issued a neutral rating and a $230.00 price objective on the technology company’s stock.

Other equities research analysts have also issued reports about the company. Deutsche Bank AG restated a buy rating and set a $165.00 price target (up from $156.00) on shares of Arista Networks in a research report on Monday, July 17th. Citigroup Inc. increased their price objective on Arista Networks from $165.00 to $180.00 and gave the company a buy rating in a research report on Friday, August 4th. Cowen and Company reiterated a buy rating and issued a $168.00 price objective (up from $145.00) on shares of Arista Networks in a research report on Friday, August 4th. Argus reiterated a buy rating on shares of Arista Networks in a research report on Monday, August 7th. Finally, Needham & Company LLC reiterated a buy rating and issued a $175.00 price objective on shares of Arista Networks in a research report on Tuesday, September 12th. Sixteen research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Arista Networks has a consensus rating of Buy and an average target price of $187.21.

Arista Networks (NYSE:ANET) traded up $6.06 during midday trading on Monday, reaching $230.97. The company had a trading volume of 166,757 shares, compared to its average volume of 828,194. The company has a market cap of $16,601.16, a price-to-earnings ratio of 54.59, a PEG ratio of 2.10 and a beta of 1.31. Arista Networks has a 1-year low of $86.64 and a 1-year high of $228.86. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.07 and a current ratio of 3.66.

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In related news, insider Jayshree Ullal sold 72,443 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $225.96, for a total value of $16,369,220.28. Following the completion of the transaction, the insider now directly owns 3,564 shares of the company’s stock, valued at approximately $805,321.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Anshul Sadana sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $189.95, for a total transaction of $2,279,400.00. Following the completion of the transaction, the insider now directly owns 86,788 shares of the company’s stock, valued at $16,485,380.60. The disclosure for this sale can be found here. Insiders sold a total of 275,405 shares of company stock worth $58,844,707 in the last 90 days. 28.09% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Capital Research Global Investors lifted its stake in Arista Networks by 2.8% in the 2nd quarter. Capital Research Global Investors now owns 7,579,814 shares of the technology company’s stock worth $1,135,380,000 after purchasing an additional 209,783 shares in the last quarter. Vanguard Group Inc. lifted its stake in Arista Networks by 7.1% in the 2nd quarter. Vanguard Group Inc. now owns 3,763,999 shares of the technology company’s stock worth $563,810,000 after purchasing an additional 249,753 shares in the last quarter. BlackRock Inc. lifted its stake in Arista Networks by 41.1% in the 2nd quarter. BlackRock Inc. now owns 2,376,973 shares of the technology company’s stock worth $356,048,000 after purchasing an additional 692,651 shares in the last quarter. Harbour Capital Advisors LLC lifted its stake in Arista Networks by 13,502.2% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,228,278 shares of the technology company’s stock worth $8,200,000 after purchasing an additional 1,219,248 shares in the last quarter. Finally, State Street Corp lifted its stake in Arista Networks by 44.7% in the 2nd quarter. State Street Corp now owns 1,063,294 shares of the technology company’s stock worth $159,278,000 after purchasing an additional 328,534 shares in the last quarter. Institutional investors and hedge funds own 59.21% of the company’s stock.

Arista Networks Company Profile

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.

Analyst Recommendations for Arista Networks (NYSE:ANET)

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