Arista Networks (NYSE:ANET) Shares Down 2% – Should You Sell?

Arista Networks, Inc. (NYSE:ANET)’s share price fell 2% during mid-day trading on Monday . The stock traded as low as $109.09 and last traded at $112.07. 1,816,834 shares changed hands during trading, a decline of 67% from the average session volume of 5,572,404 shares. The stock had previously closed at $114.34.

Analyst Ratings Changes

ANET has been the subject of a number of recent analyst reports. Morgan Stanley upped their price target on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. The Goldman Sachs Group lifted their price target on shares of Arista Networks from $97.50 to $107.50 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. UBS Group raised their price objective on Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Rosenblatt Securities boosted their price objective on Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a research report on Friday, November 8th. Finally, Piper Sandler restated a “neutral” rating and set a $105.25 target price (up from $86.25) on shares of Arista Networks in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $102.42.

Arista Networks Price Performance

The firm’s fifty day moving average price is $107.03 and its 200-day moving average price is $96.46. The company has a market capitalization of $146.22 billion, a price-to-earnings ratio of 55.80, a P/E/G 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 net margin of 40.29% and a return on equity of 30.52%. Arista Networks’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.41 earnings per share. On average, research analysts predict that Arista Networks, Inc. will post 1.96 earnings per share for the current year.

Insider Activity

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $105.09, for a total transaction of $8,407,200.00. Following the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,363,647.84. This represents a 86.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $111.51, for a total transaction of $892,080.00. Following the transaction, the director now owns 163,784 shares in the company, valued at $18,263,553.84. The trade was a 4.66 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 345,316 shares of company stock valued at $37,761,976. 3.54% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Arista Networks

A number of institutional investors and hedge funds have recently made changes to their positions in the business. KRS Capital Management LLC raised its stake in shares of Arista Networks by 301.8% in the fourth quarter. KRS Capital Management LLC now owns 2,752 shares of the technology company’s stock worth $304,000 after purchasing an additional 2,067 shares during the last quarter. Trust Co. of Vermont boosted its holdings in 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 acquiring an additional 198 shares during the last quarter. Shelton Wealth Management LLC grew its stake in shares of Arista Networks by 310.9% in the 4th quarter. Shelton Wealth Management LLC now owns 13,214 shares of the technology company’s stock worth $1,461,000 after acquiring an additional 9,998 shares in the last quarter. CGN Advisors LLC raised its holdings in shares of Arista Networks by 125.1% in the fourth quarter. CGN Advisors LLC now owns 23,548 shares of the technology company’s stock valued at $2,603,000 after purchasing an additional 13,086 shares during the last quarter. Finally, Premier Path Wealth Partners LLC lifted its position in shares of Arista Networks by 294.4% during the fourth quarter. Premier Path Wealth Partners LLC now owns 8,585 shares of the technology company’s stock valued at $949,000 after purchasing an additional 6,408 shares in the last quarter. Institutional investors and hedge funds 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.