Arista Networks (ANET) Upgraded to “Hold” at ValuEngine
ValuEngine upgraded shares of Arista Networks (NYSE:ANET) from a sell rating to a hold rating in a report published on Friday.
Other analysts also recently issued research reports about the company. Citigroup upped their price target on Arista Networks from $300.00 to $315.00 and gave the stock a buy rating in a research note on Friday, November 2nd. Credit Suisse Group set a $315.00 price objective on Arista Networks and gave the company a buy rating in a research report on Friday, November 2nd. Stifel Nicolaus set a $275.00 price objective on Arista Networks and gave the company a buy rating in a research report on Friday, November 2nd. Piper Jaffray Companies set a $320.00 price objective on Arista Networks and gave the company a buy rating in a research report on Friday, November 2nd. Finally, Bank of America raised Arista Networks from a neutral rating to a buy rating and set a $300.00 price objective on the stock in a research report on Thursday, December 6th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $291.69.
Shares of Arista Networks stock traded up $23.17 during midday trading on Friday, hitting $263.95. The company had a trading volume of 4,089,787 shares, compared to its average volume of 886,120. The company has a quick ratio of 4.11, a current ratio of 4.51 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $19.91 billion, a P/E ratio of 56.76, a PEG ratio of 1.41 and a beta of 1.40. Arista Networks has a 52-week low of $187.08 and a 52-week high of $313.37.
In other news, insider John F. Mccool sold 567 shares of the stock in a transaction on Wednesday, November 21st. The stock was sold at an average price of $220.25, for a total transaction of $124,881.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Kenneth Duda sold 11,000 shares of the stock in a transaction on Monday, February 11th. The shares were sold at an average price of $229.04, for a total value of $2,519,440.00. Following the transaction, the senior vice president now directly owns 3,483 shares in the company, valued at $797,746.32. The disclosure for this sale can be found here. Insiders have sold a total of 39,441 shares of company stock worth $8,810,911 over the last three months. Insiders own 24.95% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ANET. Larson Financial Group LLC bought a new position in Arista Networks in the 4th quarter worth $25,000. FTB Advisors Inc. bought a new position in Arista Networks in the 4th quarter worth $26,000. Kaizen Advisory LLC bought a new position in Arista Networks in the 4th quarter worth $27,000. CENTRAL TRUST Co raised its holdings in Arista Networks by 53.3% in the 4th quarter. CENTRAL TRUST Co now owns 141 shares of the technology company’s stock worth $29,000 after purchasing an additional 49 shares during the period. Finally, Capital Investment Advisory Services LLC bought a new position in Arista Networks in the 4th quarter worth $39,000. 60.35% of the stock is currently owned by hedge funds and other institutional investors.
Arista Networks Company Profile
Arista Networks, Inc provides cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of its extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms, including universal leaf, spline, and universal spine products.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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 MarketBeat.com's FREE daily email newsletter.