Arista Networks (NYSE:ANET) Shares Down 1.1% – What’s Next?

Arista Networks, Inc. (NYSE:ANET)’s share price traded down 1.1% during mid-day trading on Friday . The stock traded as low as $401.45 and last traded at $402.87. 352,442 shares were traded during mid-day trading, a decline of 84% from the average session volume of 2,232,552 shares. The stock had previously closed at $407.39.

Analysts Set New Price Targets

ANET has been the topic of a number of recent analyst reports. UBS Group raised their price target on shares of Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Wells Fargo & Company increased their price objective on shares of Arista Networks from $340.00 to $390.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Barclays boosted their price target on Arista Networks from $320.00 to $341.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Citigroup increased their target price on shares of Arista Networks from $385.00 to $460.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, The Goldman Sachs Group increased their target price on Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $369.50.

Arista Networks Stock Performance

The stock has a market capitalization of $125.97 billion, a PE ratio of 56.11, a P/E/G ratio of 3.21 and a beta of 1.07. The firm’s 50 day moving average is $365.93 and its two-hundred day moving average is $330.60.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.38. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter last year, the company earned $1.41 EPS. Arista Networks’s revenue for the quarter was up 15.9% compared to the same quarter last year. On average, analysts anticipate that Arista Networks, Inc. will post 7.38 EPS for the current year.

Insider Buying and Selling

In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $394.69, for a total value of $7,893,800.00. Following the completion of the transaction, the senior vice president now owns 3,244 shares in the company, valued at $1,280,374.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $394.69, for a total value of $7,893,800.00. Following the completion of the sale, the senior vice president now owns 3,244 shares in the company, valued at $1,280,374.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jayshree Ullal sold 832 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $318.12, for a total transaction of $264,675.84. Following the sale, the chief executive officer now owns 17,681 shares of the company’s stock, valued at approximately $5,624,679.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 58,197 shares of company stock worth $21,326,894 over the last 90 days. 3.54% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Benjamin Edwards Inc. purchased a new stake in shares of Arista Networks during the 1st quarter worth $26,000. Beacon Capital Management LLC increased its holdings in Arista Networks by 500.0% in the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after buying an additional 65 shares in the last quarter. LGT Financial Advisors LLC acquired a new stake in shares of Arista Networks during the 2nd quarter valued at approximately $27,000. Financial Synergies Wealth Advisors Inc. grew its holdings in shares of Arista Networks by 872.7% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock worth $31,000 after acquiring an additional 96 shares during the period. Finally, Byrne Asset Management LLC purchased a new position in Arista Networks in the 2nd quarter valued at approximately $33,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

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.