Arista Networks (NYSE:ANET) had its price objective hoisted by Needham & Company LLC from $230.00 to $300.00 in a report published on Wednesday morning, MarketBeat Ratings reports. The firm currently has a buy rating on the technology company’s stock.

A number of other research firms have also recently weighed in on ANET. Citigroup upped their price target on Arista Networks to $250.00 and gave the stock a buy rating in a report on Friday, December 1st. KeyCorp restated an overweight rating and issued a $240.00 price target (up previously from $213.00) on shares of Arista Networks in a report on Thursday, December 14th. Nomura upped their price target on Arista Networks from $173.00 to $185.00 and gave the stock a neutral rating in a report on Friday, November 3rd. BMO Capital Markets upped their price target on 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. Finally, Royal Bank of Canada upped their price target on Arista Networks from $190.00 to $200.00 and gave the stock a sector perform rating in a report on Friday, November 3rd. Fourteen 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 company. The company currently has an average rating of Buy and an average price target of $205.66.

Arista Networks (ANET) traded down $1.76 on Wednesday, hitting $259.03. The company had a trading volume of 824,100 shares, compared to its average volume of 828,254. The firm has a market cap of $18,940.00, a PE ratio of 53.74, a P/E/G ratio of 1.99 and a beta of 1.38. 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 $262.84.

In other Arista Networks news, insider Andreas Bechtolsheim sold 39,680 shares of the stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $241.92, for a total transaction of $9,599,385.60. Following the transaction, the insider now owns 73,102 shares of the company’s stock, valued at approximately $17,684,835.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Anshul Sadana sold 12,000 shares of the stock in a transaction on Monday, October 16th. The stock was sold at an average price of $189.95, for a total value of $2,279,400.00. Following the transaction, the insider now directly owns 86,788 shares in the company, valued at approximately $16,485,380.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 606,126 shares of company stock worth $138,901,364. 28.09% of the stock is owned by insiders.

Several institutional investors have recently modified their holdings of the business. D.A. Davidson & CO. lifted its stake in shares of Arista Networks by 3.2% during the 2nd quarter. D.A. Davidson & CO. now owns 982 shares of the technology company’s stock worth $147,000 after purchasing an additional 30 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Arista Networks by 20.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 740 shares of the technology company’s stock worth $111,000 after purchasing an additional 126 shares during the period. M&T Bank Corp lifted its stake in shares of Arista Networks by 6.4% during the 2nd quarter. M&T Bank Corp now owns 2,315 shares of the technology company’s stock worth $347,000 after purchasing an additional 140 shares during the period. Affinity Wealth Management lifted its stake in shares of Arista Networks by 11.6% during the 2nd quarter. Affinity Wealth Management now owns 2,158 shares of the technology company’s stock worth $323,000 after purchasing an additional 224 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its stake in shares of Arista Networks by 13.9% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 2,105 shares of the technology company’s stock worth $315,000 after purchasing an additional 257 shares during the period. 57.96% of the stock is currently owned by institutional investors.

WARNING: This piece was reported by Watch List News and is the sole property of of Watch List News. If you are viewing this piece on another publication, it was stolen and republished in violation of US and international copyright law. The correct version of this piece can be read at https://www.watchlistnews.com/arista-networks-anet-price-target-increased-to-300-00-by-analysts-at-needham-company-llc/1806338.html.

Arista Networks Company Profile

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)

Receive News & Ratings for Arista Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arista Networks and related companies with Analyst Ratings Network's FREE daily email newsletter.