Arista Networks (NYSE:ANET) Trading Down 1.3% – What’s Next?

Arista Networks, Inc. (NYSE:ANET)’s stock price dropped 1.3% during trading on Friday . The stock traded as low as $101.66 and last traded at $102.05. Approximately 2,585,385 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 9,721,389 shares. The stock had previously closed at $103.40.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. The Goldman Sachs Group upped their price target on shares of Arista Networks from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday. Wells Fargo & Company upped their price target on shares of Arista Networks from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday. Piper Sandler restated a “neutral” rating and issued a $108.00 price target (up from $106.00) on shares of Arista Networks in a research report on Wednesday. UBS Group upped their price objective on shares of Arista Networks from $106.00 to $112.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Evercore ISI upped their price objective 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Arista Networks has an average rating of “Moderate Buy” and a consensus price target of $113.79.

Arista Networks Price Performance

The business’s fifty day moving average is $113.94 and its 200-day moving average is $101.57. The firm has a market cap of $124.76 billion, a PE ratio of 44.59, a P/E/G ratio of 2.79 and a beta of 1.09.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. Analysts forecast that Arista Networks, Inc. will post 2.18 EPS for the current year.

Insiders Place Their Bets

In other news, Director Kelly Bodnar Battles sold 1,488 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $107.13, for a total value of $159,409.44. Following the completion of the transaction, the director now directly owns 8,128 shares in the company, valued at approximately $870,752.64. This trade represents a 15.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the completion of the transaction, the senior vice president now owns 12,976 shares of the company’s stock, valued at $1,405,171.04. This trade represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 259,944 shares of company stock worth $30,214,186 over the last quarter. 3.54% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ANET. Caitlin John LLC increased its stake in shares of Arista Networks by 174.7% in the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock worth $26,000 after buying an additional 152 shares during the period. Capital Advisors Ltd. LLC boosted its holdings in shares of Arista Networks by 335.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock valued at $27,000 after buying an additional 191 shares in the last quarter. Cranbrook Wealth Management LLC boosted its holdings in shares of Arista Networks by 300.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after buying an additional 198 shares in the last quarter. Trust Co. of Vermont boosted its holdings 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 valued at $29,000 after buying an additional 198 shares in the last quarter. Finally, New Millennium Group LLC boosted its holdings in shares of 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 buying an additional 195 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other 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.