Arista Networks (ANET) Earns Market Perform Rating from Analysts at Wells Fargo & Company

Wells Fargo & Company started coverage on shares of Arista Networks (NYSE:ANET) in a report issued on Tuesday, November 14th, MarketBeat.com reports. The brokerage issued a market perform rating and a $235.00 target price on the technology company’s stock.

Several other analysts also recently weighed in on the stock. BidaskClub raised shares of Arista Networks from a buy rating to a strong-buy rating in a research note on Tuesday, October 31st. Royal Bank Of Canada raised shares of Arista Networks from a sector perform rating to an outperform rating in a research note on Wednesday, November 8th. JMP Securities boosted their price objective on shares of Arista Networks from $185.00 to $230.00 and gave the stock a market perform rating in a research note on Thursday, October 26th. KeyCorp reissued a buy rating on shares of Arista Networks in a research note on Friday, November 3rd. Finally, Zacks Investment Research downgraded shares of Arista Networks from a buy rating to a hold rating in a research note on Thursday, July 27th. Sixteen equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $192.55.

Arista Networks (NYSE:ANET) traded down $4.47 during trading on Tuesday, hitting $228.65. 1,138,572 shares of the stock traded hands, compared to its average volume of 927,059. The company has a quick ratio of 3.07, a current ratio of 3.66 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 $245.65. The company has a market capitalization of $16,714.54, a P/E ratio of 54.96, a PEG ratio of 2.08 and a beta of 1.38.

In other Arista Networks news, insider Andreas Bechtolsheim sold 132,370 shares of the company’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of $240.17, for a total value of $31,791,302.90. Following the sale, the insider now directly owns 73,102 shares of the company’s stock, valued at $17,556,907.34. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Marc Taxay sold 2,000 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $190.47, for a total transaction of $380,940.00. Following the completion of the sale, the senior vice president now directly owns 13,002 shares in the company, valued at $2,476,490.94. The disclosure for this sale can be found here. Insiders have sold 489,512 shares of company stock worth $110,575,560 over the last three months. Corporate insiders own 28.09% of the company’s stock.

Large investors have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC purchased a new stake in shares of Arista Networks during the 3rd quarter worth about $1,146,000. Public Employees Retirement System of Ohio boosted its stake in shares of Arista Networks by 43.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 31,802 shares of the technology company’s stock worth $6,030,000 after acquiring an additional 9,681 shares in the last quarter. Fieldpoint Private Securities LLC purchased a new stake in shares of Arista Networks during the 3rd quarter worth about $130,000. Neuberger Berman Group LLC purchased a new stake in shares of Arista Networks during the 3rd quarter worth about $5,351,000. Finally, California Public Employees Retirement System boosted its stake in shares of Arista Networks by 6.9% during the 3rd quarter. California Public Employees Retirement System now owns 98,175 shares of the technology company’s stock worth $18,615,000 after acquiring an additional 6,375 shares in the last quarter. 58.04% of the stock is currently owned by institutional investors.

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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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