Arista Networks (NYSE:ANET) had its price target raised by Bank of America from $210.00 to $250.00 in a report issued on Wednesday. The brokerage currently has a neutral rating on the technology company’s stock.

A number of other analysts also recently weighed in on ANET. Argus reaffirmed a buy rating on shares of Arista Networks in a report on Monday, August 7th. Jefferies Group reaffirmed a hold rating and set a $145.00 price target (up previously from $120.00) on shares of Arista Networks in a report on Wednesday, August 9th. Stifel Nicolaus reaffirmed a hold rating and set a $165.00 price target (up previously from $145.00) on shares of Arista Networks in a report on Wednesday, August 9th. J P Morgan Chase & Co raised shares of Arista Networks from a neutral rating to an overweight rating and upped their price target for the stock from $144.00 to $186.00 in a report on Friday, August 4th. Finally, Oppenheimer reaffirmed an outperform rating and set a $180.00 price target (up previously from $160.00) on shares of Arista Networks in a report on Wednesday, August 9th. Sixteen investment 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 company’s stock. Arista Networks currently has an average rating of Buy and an average target price of $192.55.

Shares of Arista Networks (ANET) opened at $228.65 on Wednesday. Arista Networks has a twelve month low of $87.33 and a twelve month high of $245.65. The company has a current ratio of 3.66, a quick ratio of 3.07 and a debt-to-equity ratio of 0.03. The firm has a market cap of $17,041.22, a P/E ratio of 56.04, a PEG ratio of 2.12 and a beta of 1.38.

In other Arista Networks news, insider Andreas Bechtolsheim sold 132,370 shares of the company’s stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $240.17, for a total value of $31,791,302.90. Following the completion of the transaction, the insider now directly owns 73,102 shares in the company, valued at approximately $17,556,907.34. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Marc Taxay sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $190.47, for a total transaction of $380,940.00. Following the completion of the transaction, the senior vice president now owns 13,002 shares of the company’s stock, valued at $2,476,490.94. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 489,512 shares of company stock valued at $110,575,560. 28.09% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Capital Research Global Investors increased its position 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 valued at $1,135,380,000 after acquiring an additional 209,783 shares during the period. Vanguard Group Inc. increased its position 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 valued at $563,810,000 after acquiring an additional 249,753 shares during the period. BlackRock Inc. increased its position in Arista Networks by 41.1% in the 2nd quarter. BlackRock Inc. now owns 2,376,973 shares of the technology company’s stock valued at $356,048,000 after acquiring an additional 692,651 shares during the period. Harbour Capital Advisors LLC increased its position in shares of Arista Networks by 13,502.2% during the second quarter. Harbour Capital Advisors LLC now owns 1,228,278 shares of the technology company’s stock worth $8,200,000 after buying an additional 1,219,248 shares during the period. Finally, State Street Corp increased its position in shares of Arista Networks by 44.7% during the second quarter. State Street Corp now owns 1,063,294 shares of the technology company’s stock worth $159,278,000 after buying an additional 328,534 shares during the period. Hedge funds and other institutional investors own 58.04% of the company’s stock.

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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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