Arista Networks (ANET) Research Coverage Started at Piper Jaffray Companies

Piper Jaffray Companies started coverage on shares of Arista Networks (NYSE:ANET) in a research note issued on Monday, November 13th, Marketbeat reports. The brokerage set a “neutral” rating and a $230.00 price target on the technology company’s stock. Piper Jaffray Companies’ price objective would suggest a potential downside of 2.37% from the stock’s current price.

Other research analysts also recently issued reports about the stock. William Blair raised shares of Arista Networks from a “market perform” rating to an “outperform” rating in a research report on Friday, August 4th. Argus reissued a “buy” rating on shares of Arista Networks in a research report on Monday, August 7th. Oppenheimer reissued an “outperform” rating and set a $180.00 price objective (up from $160.00) on shares of Arista Networks in a research report on Wednesday, August 9th. DA Davidson raised shares of Arista Networks from a “neutral” rating to a “buy” rating and set a $224.00 target price on the stock in a research report on Friday, November 3rd. Finally, Instinet upped their target price on shares of Arista Networks from $135.00 to $173.00 and gave the stock a “neutral” rating in a research report on Monday, August 7th. Fourteen research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $200.14.

Shares of Arista Networks (NYSE:ANET) traded down $5.06 during trading on Monday, reaching $235.58. 415,679 shares of the company’s stock were exchanged, compared to its average volume of 789,531. The company has a current ratio of 3.66, a quick ratio of 3.07 and a debt-to-equity ratio of 0.03. The stock has a market cap of $17,221.13, a P/E ratio of 48.67, a P/E/G ratio of 2.14 and a beta of 1.38. Arista Networks has a fifty-two week low of $87.33 and a fifty-two week high of $245.65.

In related news, insider Anshul Sadana sold 12,000 shares of the stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $189.95, for a total transaction of $2,279,400.00. Following the sale, the insider now directly owns 86,788 shares of the company’s stock, valued at approximately $16,485,380.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Marc Taxay sold 2,000 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $190.47, for a total transaction of $380,940.00. Following 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 a total of 613,901 shares of company stock worth $140,320,427 over the last three months. 28.09% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in ANET. D.A. Davidson & CO. lifted its stake in Arista Networks by 3.2% during the 2nd quarter. D.A. Davidson & CO. now owns 982 shares of the technology company’s stock valued at $147,000 after acquiring an additional 30 shares during the period. PNC Financial Services Group Inc. lifted its stake in Arista Networks by 20.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 740 shares of the technology company’s stock valued at $111,000 after acquiring an additional 126 shares during the period. M&T Bank Corp lifted its stake in Arista Networks by 6.4% during the 2nd quarter. M&T Bank Corp now owns 2,315 shares of the technology company’s stock valued at $347,000 after acquiring an additional 140 shares during the period. Affinity Wealth Management lifted its stake in Arista Networks by 11.6% during the 2nd quarter. Affinity Wealth Management now owns 2,158 shares of the technology company’s stock valued at $323,000 after acquiring an additional 224 shares during the period. Finally, Financial Architects Inc lifted its stake in Arista Networks by 17.9% during the 2nd quarter. Financial Architects Inc now owns 1,480 shares of the technology company’s stock valued at $222,000 after acquiring an additional 225 shares during the period. 57.96% 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.