Arista Networks (NYSE:ANET) Trading Down 1.9% – What’s Next?

Arista Networks, Inc. (NYSE:ANET)’s stock price traded down 1.9% during mid-day trading on Friday . The company traded as low as $112.65 and last traded at $113.33. 1,440,074 shares changed hands during trading, a decline of 74% from the average session volume of 5,530,716 shares. The stock had previously closed at $115.51.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ANET shares. UBS Group increased their price objective on shares of Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Barclays decreased their price target on Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. Morgan Stanley upped their price objective on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 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 report on Friday, November 8th. 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 report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.42.

Arista Networks Trading Down 0.5 %

The business’s 50 day simple moving average is $106.16 and its 200 day simple moving average is $95.69. The firm has a market capitalization of $144.73 billion, a PE ratio of 55.24, a PEG ratio of 3.21 and a beta of 1.08.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $1.76 billion. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The firm’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.41 earnings per share. Analysts forecast that Arista Networks, Inc. will post 1.96 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider John F. Mccool sold 2,336 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $96.83, for a total value of $226,200.72. Following the transaction, the insider now directly owns 288 shares in the company, valued at approximately $27,887.76. This represents a 89.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Marc Taxay sold 2,496 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $96.83, for a total transaction of $241,693.92. The disclosure for this sale can be found here. Insiders sold 345,316 shares of company stock valued at $37,761,976 over the last three months. 3.54% of the stock is owned by company insiders.

Hedge Funds Weigh In On Arista Networks

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp boosted its position in Arista Networks by 3.8% during the 3rd quarter. State Street Corp now owns 11,237,635 shares of the technology company’s stock valued at $4,313,229,000 after acquiring an additional 411,109 shares in the last quarter. Geode Capital Management LLC boosted its position in Arista Networks by 4.2% during the third quarter. Geode Capital Management LLC now owns 5,871,481 shares of the technology company’s stock valued at $2,246,705,000 after purchasing an additional 236,151 shares in the last quarter. Wellington Management Group LLP grew its stake in Arista Networks by 22.7% in the third quarter. Wellington Management Group LLP now owns 2,660,695 shares of the technology company’s stock valued at $1,021,228,000 after purchasing an additional 492,615 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Arista Networks by 4.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,283,573 shares of the technology company’s stock worth $876,481,000 after purchasing an additional 99,790 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Arista Networks by 0.9% during the second quarter. Legal & General Group Plc now owns 2,195,733 shares of the technology company’s stock valued at $769,560,000 after buying an additional 20,278 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

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.