Arista Networks (NYSE:ANET) Trading Down 0.4% – Should You Sell?

Arista Networks, Inc. (NYSE:ANET) fell 0.4% on Tuesday . The stock traded as low as $109.04 and last traded at $111.04. 2,479,055 shares were traded during mid-day trading, a decline of 73% from the average session volume of 9,124,867 shares. The stock had previously closed at $111.50.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Morgan Stanley increased their target price on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. UBS Group upped their target price on Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a report on Friday, November 8th. Piper Sandler reiterated a “neutral” rating and issued a $105.25 price target (up from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. StockNews.com cut Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Finally, Barclays reduced their target price on Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Arista Networks currently has an average rating of “Moderate Buy” and a consensus target price of $105.83.

Arista Networks Stock Performance

The stock has a fifty day moving average price of $112.08 and a 200-day moving average price of $99.15. The firm has a market cap of $141.08 billion, a PE ratio of 53.84, a PEG ratio of 3.10 and a beta of 1.09.

Arista Networks (NYSE:ANET) last issued its earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.08. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.76 billion. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The company’s revenue was up 20.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.41 earnings per share. As a group, equities analysts predict that Arista Networks, Inc. will post 1.97 earnings per share for the current fiscal year.

Insider Buying and Selling at Arista Networks

In related news, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $412.65, for a total transaction of $825,300.00. Following the completion of the sale, the director now owns 42,946 shares of the company’s stock, valued at approximately $17,721,666.90. This trade represents a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $118.47, for a total transaction of $9,477,600.00. Following the completion of the sale, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at $1,537,266.72. This represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 327,832 shares of company stock valued at $36,049,537 in the last ninety days. Company insiders own 3.54% of the company’s stock.

Institutional Trading of Arista Networks

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

About Arista Networks

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.