Stifel Nicolaus initiated coverage on shares of Arista Networks (NYSE:ANET) in a research note issued to investors on Thursday, MarketBeat Ratings reports. The firm issued a buy rating and a $270.00 price objective on the technology company’s stock.

Several other research firms also recently commented on ANET. Citigroup lifted their target price on shares of Arista Networks to $250.00 and gave the stock a buy rating in a research report on Friday, December 1st. Needham & Company LLC restated a buy rating and set a $217.00 price target (up previously from $175.00) on shares of Arista Networks in a report on Friday, November 3rd. They noted that the move was a valuation call. KeyCorp restated an overweight rating and set a $240.00 price target (up previously from $213.00) on shares of Arista Networks in a report on Thursday. Nomura raised their price target on shares of Arista Networks from $173.00 to $185.00 and gave the stock a neutral rating in a report on Friday, November 3rd. Finally, BMO Capital Markets raised their price target on shares of Arista Networks from $190.00 to $205.00 and gave the stock a market perform rating in a report on Friday, November 3rd. They noted that the move was a valuation call. Fourteen equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $197.55.

Shares of Arista Networks (ANET) opened at $231.03 on Thursday. The company has a current ratio of 3.66, a quick ratio of 3.07 and a debt-to-equity ratio of 0.03. Arista Networks has a 1 year low of $87.33 and a 1 year high of $245.65. The company has a market cap of $16,888.52, a P/E ratio of 55.54, a P/E/G ratio of 2.10 and a beta of 1.38.

In other news, insider Andreas Bechtolsheim sold 132,370 shares of Arista Networks stock in a transaction 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 sale, the insider now owns 73,102 shares in the company, valued at approximately $17,556,907.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Marc Taxay sold 2,000 shares of the business’s stock in a transaction 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 sale, the senior vice president now owns 13,002 shares of the company’s stock, valued at approximately $2,476,490.94. The disclosure for this sale can be found here. Insiders sold a total of 486,325 shares of company stock valued at $110,320,931 in the last quarter. 28.09% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in ANET. PNC Financial Services Group Inc. increased its stake in Arista Networks by 20.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 740 shares of the technology company’s stock valued at $111,000 after purchasing an additional 126 shares in the last quarter. Fieldpoint Private Securities LLC bought a new stake in Arista Networks during the 3rd quarter valued at $130,000. D.A. Davidson & CO. increased its stake in Arista Networks by 3.2% during the 2nd quarter. D.A. Davidson & CO. now owns 982 shares of the technology company’s stock valued at $147,000 after purchasing an additional 30 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Arista Networks during the 3rd quarter valued at $151,000. Finally, Daiwa Securities Group Inc. bought a new stake in Arista Networks during the 2nd quarter valued at $202,000. Institutional investors and hedge funds own 58.22% of the company’s stock.

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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.

Analyst Recommendations for Arista Networks (NYSE:ANET)

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