Arista Networks (NYSE:ANET) Shares Down 2.8% – Should You Sell?

Arista Networks, Inc. (NYSE:ANET) fell 2.8% during trading on Monday . The stock traded as low as $106.32 and last traded at $106.64. 12,211,763 shares traded hands during mid-day trading, an increase of 32% from the average session volume of 9,228,991 shares. The stock had previously closed at $109.75.

Analysts Set New Price Targets

Several research firms have weighed in on ANET. Barclays lowered their price target on Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. Evercore ISI boosted their price target on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Morgan Stanley boosted their price target on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. The Goldman Sachs Group boosted their price target on Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Finally, Wells Fargo & Company boosted their price target on Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.59.

Arista Networks Stock Performance

The business has a fifty day simple moving average of $113.94 and a 200 day simple moving average of $101.16. The stock has a market capitalization of $134.35 billion, a price-to-earnings ratio of 51.27, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09.

Insider Buying and Selling at Arista Networks

In other news, CEO Jayshree Ullal sold 71,036 shares of the company’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 directly owns 70,724 shares in the company, valued at approximately $7,076,289.82. This represents a 50.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $412.65, for a total value of $825,300.00. Following the sale, the director now owns 42,946 shares of the company’s stock, valued at approximately $17,721,666.90. This represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 335,832 shares of company stock valued at $37,787,297 in the last ninety days. 3.54% of the stock is currently owned by corporate insiders.

Institutional Trading of Arista Networks

Institutional investors and hedge funds have recently modified their holdings of the business. Stock Yards Bank & Trust Co. bought a new stake in shares of Arista Networks during the 4th quarter worth $242,000. Silver Oak Securities Incorporated raised its position in Arista Networks by 395.8% in the fourth quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company’s stock valued at $2,072,000 after purchasing an additional 14,843 shares during the last quarter. Chevy Chase Trust Holdings LLC raised its position in Arista Networks by 292.7% in the fourth quarter. Chevy Chase Trust Holdings LLC now owns 602,541 shares of the technology company’s stock valued at $66,599,000 after purchasing an additional 449,088 shares during the last quarter. CENTRAL TRUST Co raised its position in Arista Networks by 475.5% in the fourth quarter. CENTRAL TRUST Co now owns 4,184 shares of the technology company’s stock valued at $462,000 after purchasing an additional 3,457 shares during the last quarter. Finally, Triasima Portfolio Management inc. raised its position in Arista Networks by 371.3% in the fourth quarter. Triasima Portfolio Management inc. now owns 78,487 shares of the technology company’s stock valued at $8,675,000 after purchasing an additional 61,833 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors.

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.