Arista Networks (NYSE:ANET) PT Raised to $310.00

Arista Networks (NYSE:ANETFree Report) had its target price hoisted by Wells Fargo & Company from $225.00 to $310.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the technology company’s stock.

Several other equities analysts also recently commented on ANET. Melius Research upgraded Arista Networks from a hold rating to a buy rating and set a $300.00 target price for the company in a research report on Monday, January 8th. Melius upgraded Arista Networks from a hold rating to a buy rating in a report on Monday, January 8th. JMP Securities upped their target price on Arista Networks from $215.00 to $325.00 and gave the stock a market outperform rating in a report on Monday. The Goldman Sachs Group raised their price objective on Arista Networks from $223.00 to $248.00 and gave the company a buy rating in a research report on Friday, November 10th. Finally, William Blair reissued an outperform rating on shares of Arista Networks in a report on Tuesday, October 31st. Three equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $240.83.

Read Our Latest Research Report on Arista Networks

Arista Networks Stock Up 0.8 %

ANET opened at $267.07 on Wednesday. The firm has a market capitalization of $83.09 billion, a P/E ratio of 44.51, a price-to-earnings-growth ratio of 2.15 and a beta of 1.13. The stock’s 50 day moving average price is $243.59 and its two-hundred day moving average price is $209.34. Arista Networks has a 12-month low of $130.08 and a 12-month high of $276.99.

Insider Activity at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $206.27, for a total transaction of $4,125,400.00. Following the completion of the sale, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at approximately $669,139.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $206.27, for a total value of $4,125,400.00. Following the transaction, the senior vice president now owns 3,244 shares in the company, valued at $669,139.88. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jayshree Ullal sold 980 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $268.29, for a total value of $262,924.20. Following the completion of the transaction, the chief executive officer now owns 73,051 shares in the company, valued at approximately $19,598,852.79. The disclosure for this sale can be found here. Insiders sold 207,114 shares of company stock valued at $47,813,989 in the last three months. Corporate insiders own 18.99% of the company’s stock.

Institutional Investors Weigh In On Arista Networks

Several institutional investors have recently made changes to their positions in ANET. Avantax Advisory Services Inc. increased its stake in Arista Networks by 18.6% in the fourth quarter. Avantax Advisory Services Inc. now owns 4,034 shares of the technology company’s stock valued at $950,000 after acquiring an additional 633 shares during the last quarter. Checchi Capital Advisers LLC increased its position in shares of Arista Networks by 8.7% during the fourth quarter. Checchi Capital Advisers LLC now owns 1,733 shares of the technology company’s stock valued at $408,000 after acquiring an additional 139 shares in the last quarter. Ieq Capital LLC increased its position in shares of Arista Networks by 4.3% during the fourth quarter. Ieq Capital LLC now owns 31,637 shares of the technology company’s stock valued at $7,451,000 after acquiring an additional 1,316 shares in the last quarter. USA Financial Formulas grew its position in Arista Networks by 552.7% in the 4th quarter. USA Financial Formulas now owns 5,254 shares of the technology company’s stock worth $1,237,000 after purchasing an additional 4,449 shares during the period. Finally, Envestnet Portfolio Solutions Inc. grew its position in shares of Arista Networks by 2.1% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 31,258 shares of the technology company’s stock valued at $7,362,000 after acquiring an additional 628 shares during the period. Hedge funds and other institutional investors own 67.13% of the company’s stock.

About Arista Networks

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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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