Arista Networks (NYSE:ANET) Trading Down 0.1% – Time to Sell?

Arista Networks, Inc. (NYSE:ANET) fell 0.1% on Monday . The company traded as low as $111.51 and last traded at $112.74. 876,268 shares were traded during mid-day trading, a decline of 90% from the average session volume of 8,789,005 shares. The stock had previously closed at $112.81.

Analysts Set New Price Targets

Several research firms have recently commented on ANET. Morgan Stanley increased their price target on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Evercore ISI increased their price objective on Arista Networks from $100.00 to $106.25 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Wells Fargo & Company lifted their target price on Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Piper Sandler reaffirmed a “neutral” rating and set a $105.25 price target (up previously from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. Finally, Citigroup lifted their price objective on Arista Networks from $96.25 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $100.70.

Arista Networks Price Performance

The company’s 50 day simple moving average is $102.70 and its 200 day simple moving average is $93.16. The stock has a market cap of $144.43 billion, a P/E ratio of 55.12, a P/E/G ratio of 3.21 and a beta of 1.10.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Thursday, November 7th. The technology company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The firm’s quarterly revenue was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 EPS. On average, equities research analysts predict that Arista Networks, Inc. will post 1.96 earnings per share for the current year.

Insider Transactions at Arista Networks

In related news, SVP Marc Taxay sold 2,496 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $97.09, for a total transaction of $242,342.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John F. Mccool sold 288 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $108.70, for a total transaction of $31,305.60. The disclosure for this sale can be found here. Insiders have sold a total of 353,476 shares of company stock valued at $36,841,998 over the last 90 days. 3.54% of the stock is owned by company insiders.

Institutional Investors Weigh In On Arista Networks

Several institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. lifted its position in shares of Arista Networks by 9.3% in the third quarter. Principal Financial Group Inc. now owns 339,556 shares of the technology company’s stock worth $130,328,000 after purchasing an additional 29,006 shares in the last quarter. Retirement Systems of Alabama increased its stake in Arista Networks by 0.6% in the 3rd quarter. Retirement Systems of Alabama now owns 56,320 shares of the technology company’s stock valued at $21,617,000 after buying an additional 329 shares during the last quarter. Oddo BHF Asset Management Sas bought a new stake in Arista Networks during the 3rd quarter worth about $13,283,000. American Trust boosted its stake in shares of Arista Networks by 71.7% during the 3rd quarter. American Trust now owns 4,382 shares of the technology company’s stock worth $1,682,000 after buying an additional 1,830 shares during the last quarter. Finally, Old North State Trust LLC grew its holdings in shares of Arista Networks by 6.9% in the 3rd quarter. Old North State Trust LLC now owns 1,371 shares of the technology company’s stock valued at $526,000 after acquiring an additional 89 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Arista Networks Company Profile

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.