Arista Networks (ANET) Downgraded by Deutsche Bank

Deutsche Bank downgraded shares of Arista Networks (NYSE:ANET) from a buy rating to a hold rating in a research note published on Tuesday, January 23rd, MarketBeat reports. The brokerage currently has $245.00 price target on the technology company’s stock.

Other analysts have also recently issued research reports about the company. DA Davidson raised 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. Piper Jaffray Companies began coverage on Arista Networks in a research report on Monday, November 13th. They issued a neutral rating and a $230.00 price objective for the company. Needham & Company LLC reissued a buy rating and issued a $217.00 price objective (up previously from $175.00) on shares of Arista Networks in a research report on Friday, November 3rd. They noted that the move was a valuation call. Stifel Nicolaus reissued a buy rating and issued a $270.00 price objective on shares of Arista Networks in a research report on Thursday, December 14th. Finally, Citigroup reissued a buy rating and issued a $220.00 price objective (up previously from $215.00) on shares of Arista Networks in a research report on Friday, November 3rd. Fifteen 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 presently has a consensus rating of Buy and a consensus target price of $230.17.

Shares of Arista Networks (NYSE:ANET) traded up $9.54 during midday trading on Tuesday, reaching $302.12. The company’s stock had a trading volume of 1,471,744 shares, compared to its average volume of 886,092. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.66 and a quick ratio of 3.07. The company has a market cap of $22,090.00, a PE ratio of 62.68, a PEG ratio of 2.19 and a beta of 1.47. Arista Networks has a 1-year low of $99.35 and a 1-year high of $305.44.

In related news, insider Jayshree Ullal sold 52,557 shares of Arista Networks stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $231.82, for a total value of $12,183,763.74. Following the sale, the insider now directly owns 3,564 shares in the company, valued at approximately $826,206.48. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Andreas Bechtolsheim sold 132,370 shares of Arista Networks stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $240.17, for a total value of $31,791,302.90. Following the completion of the sale, the insider now owns 73,102 shares in the company, valued at $17,556,907.34. The disclosure for this sale can be found here. Over the last quarter, insiders sold 385,683 shares of company stock worth $92,010,804. 28.09% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of the company. Capital Research Global Investors boosted its holdings in shares of Arista Networks by 2.8% during the 2nd quarter. Capital Research Global Investors now owns 7,579,814 shares of the technology company’s stock worth $1,135,380,000 after purchasing an additional 209,783 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Arista Networks by 7.1% during the 2nd quarter. Vanguard Group Inc. now owns 3,763,999 shares of the technology company’s stock worth $563,810,000 after purchasing an additional 249,753 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Arista Networks by 41.1% during the 2nd quarter. BlackRock Inc. now owns 2,376,973 shares of the technology company’s stock worth $356,048,000 after purchasing an additional 692,651 shares during the last quarter. Jackson Square Partners LLC boosted its holdings in shares of Arista Networks by 380.2% during the 4th quarter. Jackson Square Partners LLC now owns 1,272,515 shares of the technology company’s stock worth $299,779,000 after purchasing an additional 1,007,491 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of Arista Networks by 44.7% during the 2nd quarter. State Street Corp now owns 1,063,294 shares of the technology company’s stock worth $159,278,000 after purchasing an additional 328,534 shares during the last quarter. Institutional investors and hedge funds own 58.15% of the company’s stock.

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Arista Networks Company Profile

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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