Arista Networks, Inc. (NYSE:ANET) Short Interest Down 22.8% in January

Arista Networks, Inc. (NYSE:ANET) was the recipient of a significant decrease in short interest in January. As of January 31st, there was short interest totalling 9,880,000 shares, a decrease of 22.8% from the January 15th total of 12,790,000 shares. Based on an average trading volume of 8,460,000 shares, the days-to-cover ratio is presently 1.2 days.

Analysts Set New Price Targets

A number of research analysts recently commented on ANET shares. The Goldman Sachs Group upped their price target on shares of Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Rosenblatt Securities increased their target price on Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a research note on Friday, November 8th. Barclays reduced their price target on Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. UBS Group upped their price target on shares of Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, Evercore ISI boosted their price objective on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $107.59.

Arista Networks Stock Down 2.8 %

Shares of ANET stock opened at $106.64 on Friday. The business has a fifty day simple moving average of $113.97 and a 200 day simple moving average of $100.72. The company has a market cap of $134.35 billion, a P/E ratio of 51.27, a P/E/G ratio of 3.10 and a beta of 1.09. Arista Networks has a twelve month low of $60.08 and a twelve month high of $133.57.

Insiders Place Their Bets

In other Arista Networks news, CEO Jayshree Ullal sold 71,036 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $100.06, for a total transaction of $7,107,506.98. Following the completion of the sale, the chief executive officer now owns 70,724 shares of the company’s stock, valued at $7,076,289.82. This trade represents a 50.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction on Friday, December 6th. The stock was sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the transaction, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at approximately $1,405,171.04. This trade represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 335,832 shares of company stock valued at $37,787,297. 3.54% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. MidAtlantic Capital Management Inc. acquired a new position in Arista Networks during the 3rd quarter worth approximately $44,000. HM Payson & Co. grew its stake in shares of Arista Networks by 28.2% during the third quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock worth $51,000 after buying an additional 29 shares during the last quarter. True Wealth Design LLC increased its holdings in shares of Arista Networks by 2,133.3% during the third quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock worth $51,000 after buying an additional 128 shares in the last quarter. Anchor Investment Management LLC lifted its stake in shares of Arista Networks by 35.0% in the 3rd quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock valued at $52,000 after acquiring an additional 35 shares during the last quarter. Finally, Transcendent Capital Group LLC grew its position in Arista Networks by 75.0% during the 3rd quarter. Transcendent Capital Group LLC now owns 175 shares of the technology company’s stock worth $67,000 after acquiring an additional 75 shares during 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.