Arista Networks (NYSE:ANET) Stock Price Down 0.1% – What’s Next?

Arista Networks, Inc. (NYSE:ANET) shares were down 0.1% on Monday . The stock traded as low as $111.51 and last traded at $112.74. Approximately 876,268 shares traded hands during trading, a decline of 90% from the average daily volume of 8,789,005 shares. The stock had previously closed at $112.81.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ANET shares. Morgan Stanley raised their price target on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Wells Fargo & Company raised their target price on Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Piper Sandler reaffirmed a “neutral” rating and set a $105.25 price target (up previously from $86.25) on shares of Arista Networks in a research report on Friday, November 8th. Citigroup raised their price objective on shares of Arista Networks from $96.25 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, The Goldman Sachs Group increased 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $100.70.

Arista Networks Trading Up 0.6 %

The stock has a market capitalization of $142.96 billion, a PE ratio of 54.56, a PEG ratio of 3.21 and a beta of 1.10. The firm’s 50-day moving average price is $102.17 and its 200-day moving average price is $92.48.

Arista Networks (NYSE:ANET) last announced its earnings results on Thursday, November 7th. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The company’s quarterly revenue was up 20.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.41 EPS. On average, equities research analysts predict that Arista Networks, Inc. will post 1.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider John F. Mccool sold 288 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $108.70, for a total value of $31,305.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $98.67, for a total value of $7,893,800.00. Following the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at $1,280,374.36. This represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 353,476 shares of company stock worth $36,841,998 in the last three months. 3.54% of the stock is owned by insiders.

Institutional Trading of Arista Networks

Several large investors have recently bought and sold shares of ANET. LGT Financial Advisors LLC purchased a new stake in Arista Networks in the second quarter valued at approximately $27,000. Anchor Investment Management LLC purchased a new stake in shares of Arista Networks in the 2nd quarter valued at $35,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Arista Networks in the third quarter worth $44,000. HM Payson & Co. raised its holdings in shares of Arista Networks by 28.2% during the third quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock worth $51,000 after purchasing an additional 29 shares during the last quarter. Finally, True Wealth Design LLC lifted its position in Arista Networks by 2,133.3% during the third quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock valued at $51,000 after purchasing an additional 128 shares during the period. Hedge funds and other 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.