Arista Networks (NYSE:ANET) had its price objective upped by analysts at KeyCorp from $370.00 to $424.00 in a note issued to investors on Thursday, The Fly reports. The firm presently has an “overweight” rating on the technology company’s stock. KeyCorp’s target price points to a potential upside of 15.48% from the company’s current price.
Other equities analysts also recently issued research reports about the stock. Morgan Stanley boosted their price objective on shares of Arista Networks from $345.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 6th. Credit Suisse Group boosted their price objective on shares of Arista Networks from $359.00 to $362.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 5th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $345.32.
Arista Networks stock opened at $367.17 on Thursday. The company’s 50 day moving average is $355.03. Arista Networks has a fifty-two week low of $192.96 and a fifty-two week high of $378.70. The company has a market capitalization of $28.00 billion, a P/E ratio of 43.04, a PEG ratio of 3.26 and a beta of 1.16.
In other Arista Networks news, SVP Marc Taxay sold 498 shares of the company’s stock in a transaction dated Monday, May 3rd. The shares were sold at an average price of $315.82, for a total value of $157,278.36. Following the completion of the transaction, the senior vice president now owns 166 shares in the company, valued at $52,426.12. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jayshree Ullal sold 2,375 shares of the company’s stock in a transaction dated Monday, May 3rd. The stock was sold at an average price of $314.18, for a total transaction of $746,177.50. Following the completion of the transaction, the chief executive officer now owns 860 shares of the company’s stock, valued at approximately $270,194.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 89,146 shares of company stock worth $30,744,433. 22.01% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Carroll Financial Associates Inc. acquired a new position in shares of Arista Networks during the 1st quarter worth about $33,000. Parkside Financial Bank & Trust raised its position in shares of Arista Networks by 187.8% during the 1st quarter. Parkside Financial Bank & Trust now owns 118 shares of the technology company’s stock worth $36,000 after purchasing an additional 77 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in Arista Networks during the 4th quarter valued at about $40,000. Allred Capital Management LLC purchased a new stake in Arista Networks during the 1st quarter valued at about $45,000. Finally, Laffer Tengler Investments purchased a new stake in Arista Networks during the 4th quarter valued at about $53,000. Hedge funds and other institutional investors own 61.58% of the company’s stock.
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.
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