Arista Networks (NYSE:ANET) Trading Down 0.9% After Insider Selling

Shares of Arista Networks, Inc. (NYSE:ANET) fell 0.9% on Wednesday after an insider sold shares in the company. The company traded as low as $113.45 and last traded at $114.28. 1,252,604 shares were traded during mid-day trading, a decline of 77% from the average session volume of 5,547,499 shares. The stock had previously closed at $115.29.

Specifically, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $118.47, for a total value of $9,477,600.00. Following the sale, the senior vice president now owns 12,976 shares of the company’s stock, valued at $1,537,266.72. The trade was a 86.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $111.51, for a total transaction of $892,080.00. Following the transaction, the director now directly owns 163,784 shares of the company’s stock, valued at $18,263,553.84. This represents a 4.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Rosenblatt Securities boosted their target price on Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a research report on Friday, November 8th. Wells Fargo & Company upped their price objective on Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. The Goldman Sachs Group raised their target price on Arista Networks from $97.50 to $107.50 and gave the company a “buy” rating in a report on Tuesday, September 24th. Citigroup upped their price target on shares of Arista Networks from $96.25 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, StockNews.com cut shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $102.42.

Arista Networks Stock Down 0.9 %

The business’s fifty day moving average price is $106.48 and its 200 day moving average price is $95.91. The firm has a market capitalization of $144.19 billion, a PE ratio of 55.03, a P/E/G ratio of 3.21 and a beta of 1.08.

Arista Networks (NYSE:ANET) last released its earnings results on Thursday, November 7th. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.52 by $0.08. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the previous year, the company earned $0.41 EPS. Arista Networks’s revenue for the quarter was up 20.0% on a year-over-year basis. As a group, sell-side analysts forecast that Arista Networks, Inc. will post 1.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arista Networks

Institutional investors have recently added to or reduced their stakes in the business. Zions Bancorporation N.A. boosted its holdings in shares of Arista Networks by 6.9% in the 3rd quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock valued at $160,000 after purchasing an additional 27 shares during the last quarter. Intellectus Partners LLC boosted its holdings in Arista Networks by 1.4% in the third quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock valued at $740,000 after acquiring an additional 27 shares during the last quarter. First Affirmative Financial Network grew its position in Arista Networks by 4.3% during the third quarter. First Affirmative Financial Network now owns 682 shares of the technology company’s stock valued at $262,000 after acquiring an additional 28 shares during the period. Altman Advisors Inc. increased its stake in Arista Networks by 0.5% during the third quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock worth $2,250,000 after acquiring an additional 28 shares during the last quarter. Finally, Everpar Advisors LLC raised its holdings in shares of Arista Networks by 1.5% in the 3rd quarter. Everpar Advisors LLC now owns 1,907 shares of the technology company’s stock worth $732,000 after purchasing an additional 29 shares during the period. 82.47% of the stock is currently owned by institutional investors and hedge funds.

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.