Arista Networks (NYSE:ANET) received a $303.00 price objective from investment analysts at Credit Suisse Group in a research note issued to investors on Thursday, May 31st. The brokerage currently has a “buy” rating on the technology company’s stock. Credit Suisse Group’s price target points to a potential upside of 7.78% from the company’s current price.
ANET has been the topic of several other research reports. ValuEngine lowered Arista Networks from a “buy” rating to a “hold” rating in a research report on Wednesday, March 28th. Cleveland Research lowered Arista Networks from a “buy” rating to a “hold” rating in a research report on Friday, April 13th. Citigroup raised their target price on Arista Networks from $315.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, March 9th. Zacks Investment Research lowered Arista Networks from a “buy” rating to a “hold” rating in a research report on Wednesday, February 7th. Finally, Deutsche Bank restated a “sell” rating and set a $180.00 price target (down previously from $195.00) on shares of Arista Networks in a research note on Friday, May 4th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $265.42.
ANET stock opened at $281.12 on Thursday. The company has a current ratio of 5.20, a quick ratio of 4.61 and a debt-to-equity ratio of 0.02. Arista Networks has a 1 year low of $141.78 and a 1 year high of $311.67. The stock has a market capitalization of $20.21 billion, a price-to-earnings ratio of 60.46, a P/E/G ratio of 2.03 and a beta of 1.46.
In related news, Director Nikos Theodosopoulos sold 110 shares of Arista Networks stock in a transaction that occurred on Monday, May 21st. The stock was sold at an average price of $250.27, for a total value of $27,529.70. Following the sale, the director now directly owns 1,746 shares in the company, valued at $436,971.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Andreas Bechtolsheim sold 50,000 shares of Arista Networks stock in a transaction that occurred on Wednesday, June 6th. The shares were sold at an average price of $278.48, for a total value of $13,924,000.00. Following the completion of the sale, the insider now owns 8,438 shares in the company, valued at $2,349,814.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 137,854 shares of company stock worth $37,802,396. Company insiders own 24.95% of the company’s stock.
A number of hedge funds have recently modified their holdings of ANET. Compagnie Lombard Odier SCmA acquired a new position in Arista Networks during the fourth quarter worth $100,000. Three Peaks Capital Management LLC acquired a new position in shares of Arista Networks in the first quarter worth $101,000. Group One Trading L.P. acquired a new position in shares of Arista Networks in the first quarter worth $102,000. Bronfman E.L. Rothschild L.P. raised its holdings in shares of Arista Networks by 164.5% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 484 shares of the technology company’s stock worth $114,000 after acquiring an additional 301 shares during the last quarter. Finally, Grimes & Company Inc. acquired a new position in shares of Arista Networks in the first quarter worth $204,000. 53.37% of the stock is owned by hedge funds and other institutional investors.
About Arista Networks
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.
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