Arista Networks (NYSE:ANET) Trading Down 5.5% – Should You Sell?

Arista Networks, Inc. (NYSE:ANET) shares fell 5.5% during trading on Wednesday . The stock traded as low as $110.37 and last traded at $110.37. 4,522,395 shares were traded during trading, a decline of 47% from the average session volume of 8,568,733 shares. The stock had previously closed at $116.84.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ANET shares. StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Wells Fargo & Company increased their target price on shares of Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Barclays reduced their target price on Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. Piper Sandler reiterated a “neutral” rating and issued a $105.25 price objective (up previously from $86.25) on shares of Arista Networks in a research report on Friday, November 8th. Finally, Evercore ISI increased their target price on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Arista Networks presently has an average rating of “Moderate Buy” and an average target price of $105.83.

Arista Networks Trading Down 5.8 %

The business’s fifty day simple moving average is $113.83 and its 200 day simple moving average is $100.59. The stock has a market cap of $138.59 billion, a price-to-earnings ratio of 52.88, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09.

Insider Buying and Selling at Arista Networks

In other news, CEO Jayshree Ullal sold 71,036 shares of Arista Networks stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $100.06, for a total transaction of $7,107,506.98. Following the transaction, the chief executive officer now owns 70,724 shares in the company, valued at $7,076,289.82. The trade was a 50.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $412.65, for a total transaction of $825,300.00. Following the completion of the transaction, the director now directly owns 42,946 shares in the company, valued at approximately $17,721,666.90. The trade was a 4.45 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 335,832 shares of company stock valued at $37,787,297. 3.54% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Arista Networks

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Stock Yards Bank & Trust Co. acquired a new position in Arista Networks in the 4th quarter valued at $242,000. Silver Oak Securities Incorporated increased its holdings in Arista Networks by 395.8% in the 4th quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company’s stock valued at $2,072,000 after buying an additional 14,843 shares during the period. CENTRAL TRUST Co raised its position in shares of Arista Networks by 475.5% in the 4th quarter. CENTRAL TRUST Co now owns 4,184 shares of the technology company’s stock valued at $462,000 after buying an additional 3,457 shares in the last quarter. Triasima Portfolio Management inc. lifted its holdings in shares of Arista Networks by 371.3% during the 4th quarter. Triasima Portfolio Management inc. now owns 78,487 shares of the technology company’s stock worth $8,675,000 after acquiring an additional 61,833 shares during the period. Finally, GW Henssler & Associates Ltd. boosted its position in shares of Arista Networks by 3.6% during the 3rd quarter. GW Henssler & Associates Ltd. now owns 63,244 shares of the technology company’s stock worth $24,274,000 after acquiring an additional 2,219 shares in 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.