Arista Networks (NYSE:ANET)‘s stock had its “buy” rating reaffirmed by equities research analysts at Credit Suisse Group in a research report issued to clients and investors on Thursday, TipRanks reports. They presently have a $359.00 price target on the technology company’s stock. Credit Suisse Group’s price target points to a potential upside of 16.74% from the company’s previous close.
Several other equities analysts have also recently weighed in on the company. Piper Sandler lifted their price target on Arista Networks from $300.00 to $330.00 and gave the company a “neutral” rating in a research report on Friday, February 19th. The Goldman Sachs Group boosted their target price on Arista Networks from $288.00 to $411.00 and gave the stock a “buy” rating in a research report on Thursday, February 25th. MKM Partners boosted their target price on Arista Networks from $273.00 to $324.00 in a research report on Thursday, January 28th. UBS Group boosted their target price on Arista Networks from $308.00 to $370.00 and gave the stock a “buy” rating in a research report on Friday, February 19th. Finally, Morgan Stanley boosted their target price on Arista Networks from $320.00 to $345.00 and gave the company an “overweight” rating in a research note on Thursday, February 25th. Eight investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Arista Networks has an average rating of “Buy” and a consensus price target of $318.29.
Arista Networks stock traded down $0.29 during mid-day trading on Thursday, reaching $307.53. The stock had a trading volume of 1,649 shares, compared to its average volume of 608,302. The firm has a market capitalization of $23.47 billion, a PE ratio of 34.44, a price-to-earnings-growth ratio of 3.91 and a beta of 1.21. Arista Networks has a fifty-two week low of $192.96 and a fifty-two week high of $326.60. The stock’s 50-day simple moving average is $291.58 and its 200-day simple moving average is $273.67.
In other news, CEO Jayshree Ullal sold 1,375 shares of the firm’s stock in a transaction dated Monday, March 8th. The stock was sold at an average price of $272.42, for a total transaction of $374,577.50. Following the completion of the transaction, the chief executive officer now owns 17,335 shares in the company, valued at $4,722,400.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Kenneth Duda sold 10,000 shares of the firm’s stock in a transaction dated Monday, January 11th. The shares were sold at an average price of $302.75, for a total value of $3,027,500.00. Following the transaction, the senior vice president now owns 18,695 shares of the company’s stock, valued at approximately $5,659,911.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 90,049 shares of company stock worth $27,262,080. Company insiders own 23.77% of the company’s stock.
Several institutional investors have recently modified their holdings of ANET. Baillie Gifford & Co. purchased a new position in Arista Networks in the fourth quarter worth about $28,000. Credit Agricole S A purchased a new position in shares of Arista Networks during the fourth quarter valued at approximately $29,000. Catalyst Private Wealth LLC purchased a new position in shares of Arista Networks during the third quarter valued at approximately $31,000. Veritas Investment Partners UK Ltd. purchased a new position in shares of Arista Networks during the fourth quarter valued at approximately $31,000. Finally, Carroll Financial Associates Inc. purchased a new position in shares of Arista Networks during the first quarter valued at approximately $33,000. Hedge funds and other institutional investors own 61.75% of the company’s stock.
Arista Networks Company Profile
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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