Arista Networks (NYSE:ANET) had its price target raised by equities research analysts at Royal Bank of Canada to $310.00 in a note issued to investors on Tuesday, The Fly reports. The firm currently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 2.61% from the company’s previous close.

Several other equities analysts have also recently issued reports on ANET. JMP Securities lifted 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. BidaskClub raised shares of Arista Networks from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 31st. DA Davidson raised shares of Arista Networks from a “neutral” rating to a “buy” rating and set a $224.00 price objective on the stock in a research note on Friday, November 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $217.00 price objective (up previously from $175.00) on shares of Arista Networks in a research note on Friday, November 3rd. They noted that the move was a valuation call. Finally, BMO Capital Markets lifted their price objective on shares of Arista Networks from $190.00 to $205.00 and gave the stock a “market perform” rating in a research note on Friday, November 3rd. They noted that the move was a valuation call. Fifteen 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. The company currently has a consensus rating of “Buy” and a consensus price target of $230.17.

Arista Networks (ANET) opened at $302.12 on Tuesday. The stock has a market cap of $22,090.00, a P/E ratio of 62.68, a PEG ratio of 2.19 and a beta of 1.47. 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 52 week low of $99.51 and a 52 week high of $305.44.

In related news, SVP Marc Taxay sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $275.31, for a total transaction of $550,620.00. Following the transaction, the senior vice president now directly owns 12,294 shares of the company’s stock, valued at $3,384,661.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Andreas Bechtolsheim sold 132,370 shares of the business’s stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $240.17, for a total transaction of $31,791,302.90. Following the transaction, the insider now directly owns 73,102 shares in the company, valued at $17,556,907.34. The disclosure for this sale can be found here. Insiders have sold 333,126 shares of company stock worth $79,827,040 over the last ninety days. 28.09% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in ANET. Jackson Square Partners LLC grew its position in Arista Networks by 380.2% during the fourth quarter. Jackson Square Partners LLC now owns 1,272,515 shares of the technology company’s stock valued at $299,779,000 after purchasing an additional 1,007,491 shares in the last quarter. State Street Corp lifted its stake in Arista Networks by 44.7% in the second quarter. State Street Corp now owns 1,063,294 shares of the technology company’s stock valued at $159,278,000 after acquiring an additional 328,534 shares during the last quarter. Two Sigma Advisers LP lifted its stake in Arista Networks by 188.8% in the fourth quarter. Two Sigma Advisers LP now owns 433,024 shares of the technology company’s stock valued at $102,012,000 after acquiring an additional 283,061 shares during the last quarter. Atlantic Trust Group LLC acquired a new stake in Arista Networks in the third quarter valued at approximately $50,736,000. Finally, Allianz Asset Management GmbH lifted its stake in Arista Networks by 69.4% in the fourth quarter. Allianz Asset Management GmbH now owns 648,248 shares of the technology company’s stock valued at $152,714,000 after acquiring an additional 265,519 shares during the last quarter. 58.15% of the stock is currently owned by hedge funds and other institutional investors.

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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.

The Fly

Analyst Recommendations for Arista Networks (NYSE:ANET)

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