Arista Networks (NYSE:ANET) Price Target Raised to $248.00

Arista Networks (NYSE:ANET) had its price target raised by The Goldman Sachs Group from $223.00 to $248.00 in a research note released on Friday, Benzinga reports. They currently have a buy rating on the technology company’s stock.

ANET has been the topic of several other research reports. KeyCorp upped their price target on Arista Networks from $217.00 to $232.00 and gave the stock an overweight rating in a research note on Tuesday, October 31st. William Blair restated an outperform rating on shares of Arista Networks in a research note on Tuesday, October 31st. Wells Fargo & Company upped their price target on Arista Networks from $200.00 to $225.00 and gave the stock an overweight rating in a research note on Tuesday, August 1st. StockNews.com started coverage on Arista Networks in a research report on Thursday, October 5th. They issued a hold rating on the stock. Finally, Argus upped their price objective on Arista Networks from $195.00 to $225.00 and gave the stock a buy rating in a research note on Wednesday, August 2nd. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $214.72.

Arista Networks Stock Performance

ANET stock opened at $206.84 on Friday. Arista Networks has a fifty-two week low of $107.57 and a fifty-two week high of $216.29. The business’s 50 day moving average price is $191.84 and its two-hundred day moving average price is $173.32. The company has a market capitalization of $64.35 billion, a price-to-earnings ratio of 34.47, a price-to-earnings-growth ratio of 1.76 and a beta of 1.12.

Insider Activity at Arista Networks

In related news, insider John F. Mccool sold 2,819 shares of the stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $187.96, for a total value of $529,859.24. Following the completion of the transaction, the insider now owns 144 shares of the company’s stock, valued at approximately $27,066.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Arista Networks news, Director Kelly Bodnar Battles sold 284 shares of the firm’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $212.36, for a total value of $60,310.24. Following the completion of the sale, the director now owns 2,459 shares of the company’s stock, valued at $522,193.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John F. Mccool sold 2,819 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $187.96, for a total transaction of $529,859.24. Following the completion of the sale, the insider now directly owns 144 shares of the company’s stock, valued at approximately $27,066.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 137,264 shares of company stock valued at $27,083,292. Insiders own 18.99% of the company’s stock.

Institutional Trading of Arista Networks

Institutional investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC bought a new stake in Arista Networks in the third quarter worth about $28,000. First Command Advisory Services Inc. bought a new stake in shares of Arista Networks during the third quarter valued at approximately $29,000. Sheets Smith Wealth Management bought a new stake in shares of Arista Networks during the first quarter valued at approximately $304,000. RFP Financial Group LLC raised its stake in shares of Arista Networks by 169.2% during the second quarter. RFP Financial Group LLC now owns 175 shares of the technology company’s stock valued at $28,000 after acquiring an additional 110 shares in the last quarter. Finally, Hollencrest Capital Management bought a new stake in shares of Arista Networks during the first quarter valued at approximately $30,000. Institutional investors own 67.13% 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.