Analysts at Wells Fargo & Company assumed coverage on shares of Arista Networks, Inc. (NYSE:ANET) in a research note issued on Tuesday. The firm set a “market perform” rating and a $235.00 price target on the technology company’s stock. Wells Fargo & Company’s price objective points to a potential upside of 4.49% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on the company. BidaskClub raised Arista Networks from a “buy” rating to a “strong-buy” rating in a report on Tuesday, October 31st. JMP Securities raised their price objective on Arista Networks from $185.00 to $230.00 and gave the company a “market perform” rating in a report on Thursday, October 26th. Zacks Investment Research cut Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Stifel Nicolaus reissued a “hold” rating and set a $145.00 price objective on shares of Arista Networks in a report on Friday, July 21st. Finally, KeyCorp reissued a “buy” rating on shares of Arista Networks in a report on Friday, November 3rd. Sixteen investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $187.21.

Arista Networks (NYSE:ANET) opened at $224.90 on Tuesday. The firm has a market capitalization of $16,601.16, a PE ratio of 54.59, a P/E/G ratio of 2.10 and a beta of 1.31. 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 $86.64 and a 1-year high of $228.86.

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In other Arista Networks news, SVP Marc Taxay sold 2,000 shares of the business’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $176.09, for a total value of $352,180.00. Following the sale, the senior vice president now directly owns 13,002 shares of the company’s stock, valued at $2,289,522.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ita M. Brennan sold 3,500 shares of the business’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $176.12, for a total value of $616,420.00. Following the completion of the sale, the insider now directly owns 16,903 shares in the company, valued at $2,976,956.36. The disclosure for this sale can be found here. Insiders have sold 275,405 shares of company stock worth $58,844,707 over the last 90 days. 28.09% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. D.A. Davidson & CO. boosted its holdings in Arista Networks by 3.2% in the second quarter. D.A. Davidson & CO. now owns 982 shares of the technology company’s stock worth $147,000 after acquiring an additional 30 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Arista Networks by 20.5% in the second quarter. PNC Financial Services Group Inc. now owns 740 shares of the technology company’s stock worth $111,000 after acquiring an additional 126 shares in the last quarter. M&T Bank Corp boosted its holdings in Arista Networks by 6.4% in the second quarter. M&T Bank Corp now owns 2,315 shares of the technology company’s stock worth $347,000 after acquiring an additional 140 shares in the last quarter. Affinity Wealth Management boosted its holdings in Arista Networks by 11.6% in the second quarter. Affinity Wealth Management now owns 2,158 shares of the technology company’s stock worth $323,000 after acquiring an additional 224 shares in the last quarter. Finally, Financial Architects Inc boosted its holdings in Arista Networks by 17.9% in the second quarter. Financial Architects Inc now owns 1,480 shares of the technology company’s stock worth $222,000 after acquiring an additional 225 shares in the last quarter. 59.21% of the stock is currently owned by institutional investors and hedge funds.

About Arista Networks

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)

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