Arista Networks (NYSE:ANET) Shares Down 1.2% – Should You Sell?

Arista Networks, Inc. (NYSE:ANET)’s stock price fell 1.2% during trading on Thursday . The stock traded as low as $126.72 and last traded at $128.31. 1,668,816 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 6,136,708 shares. The stock had previously closed at $129.82.

Analyst Ratings Changes

Several brokerages have issued reports on ANET. Evercore ISI boosted their target price on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. StockNews.com downgraded Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. The Goldman Sachs Group upped their target price on Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a report on Friday, January 17th. Piper Sandler restated a “neutral” rating and set a $105.25 price target (up from $86.25) on shares of Arista Networks in a report on Friday, November 8th. Finally, Barclays dropped their price objective on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Arista Networks presently has a consensus rating of “Moderate Buy” and an average price target of $105.83.

Arista Networks Trading Down 0.0 %

The stock has a fifty day moving average price of $110.68 and a 200 day moving average price of $98.16. The firm has a market cap of $162.63 billion, a price-to-earnings ratio of 62.06, a price-to-earnings-growth ratio of 3.49 and a beta of 1.08.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Thursday, November 7th. The technology company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.76 billion. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. During the same quarter last year, the firm posted $0.41 earnings per share. The company’s quarterly revenue was up 20.0% compared to the same quarter last year. On average, sell-side analysts forecast that Arista Networks, Inc. will post 1.97 EPS for the current year.

Insider Activity

In related news, CEO Jayshree Ullal sold 3,328 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $99.35, for a total value of $330,628.48. Following the completion of the sale, the chief executive officer now owns 70,724 shares in the company, valued at approximately $7,026,252.59. This trade represents a 4.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $98.30, for a total value of $786,360.00. Following the transaction, the director now owns 179,784 shares in the company, valued at $17,671,868.28. This represents a 4.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 343,992 shares of company stock valued at $37,634,420. 3.54% of the stock is owned by insiders.

Hedge Funds Weigh In On Arista Networks

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cranbrook Wealth Management LLC raised its stake in Arista Networks by 300.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock worth $29,000 after acquiring an additional 198 shares in the last quarter. Trust Co. of Vermont increased its position in shares of Arista Networks by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock worth $29,000 after purchasing an additional 198 shares in the last quarter. New Millennium Group LLC lifted its holdings in Arista Networks by 300.0% during the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after purchasing an additional 195 shares during the last quarter. Westside Investment Management Inc. boosted its position in Arista Networks by 1,012.0% in the fourth quarter. Westside Investment Management Inc. now owns 278 shares of the technology company’s stock valued at $31,000 after buying an additional 253 shares in the last quarter. Finally, Costello Asset Management INC grew its stake in Arista Networks by 300.0% during the fourth quarter. Costello Asset Management INC now owns 300 shares of the technology company’s stock worth $33,000 after buying an additional 225 shares during the last quarter. 82.47% of the stock is 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.