Arista Networks (NYSE:ANET) Stock Price Down 0.9% – Time to Sell?

Arista Networks, Inc. (NYSE:ANET)’s stock price fell 0.9% during mid-day trading on Wednesday . The company traded as low as $113.45 and last traded at $114.28. 1,252,604 shares traded hands during trading, a decline of 77% from the average session volume of 5,547,499 shares. The stock had previously closed at $115.29.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. The Goldman Sachs Group raised their target price on Arista Networks from $97.50 to $107.50 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. StockNews.com cut shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Piper Sandler reiterated a “neutral” rating and issued a $105.25 target price (up from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. UBS Group boosted their price target on shares of Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, Morgan Stanley increased their price objective on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $100.70.

Arista Networks Trading Up 0.0 %

The stock has a market capitalization of $145.29 billion, a P/E ratio of 55.45, a price-to-earnings-growth ratio of 3.21 and a beta of 1.08. The stock’s fifty day moving average price is $105.45 and its two-hundred day moving average price is $95.40.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results 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 business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.76 billion. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The firm’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.41 earnings per share. As a group, analysts expect that Arista Networks, Inc. will post 1.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Kelly Bodnar Battles sold 1,492 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $99.12, for a total transaction of $147,887.04. Following the transaction, the director now directly owns 8,768 shares of the company’s stock, valued at approximately $869,084.16. The trade was a 14.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $412.65, for a total value of $825,300.00. Following the completion of the sale, the director now directly owns 42,946 shares of the company’s stock, valued at $17,721,666.90. The trade was a 4.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 265,316 shares of company stock valued at $28,284,376 in the last ninety days. Company insiders own 3.54% of the company’s stock.

Hedge Funds Weigh In On Arista Networks

Institutional investors have recently bought and sold shares of the stock. Private Advisor Group LLC grew its holdings in shares of Arista Networks by 152.6% during the 2nd quarter. Private Advisor Group LLC now owns 13,001 shares of the technology company’s stock worth $4,557,000 after acquiring an additional 7,854 shares during the period. Cullen Frost Bankers Inc. boosted its position in shares of Arista Networks by 37.2% during the second quarter. Cullen Frost Bankers Inc. now owns 642 shares of the technology company’s stock valued at $225,000 after purchasing an additional 174 shares in the last quarter. Ballentine Partners LLC raised its holdings in Arista Networks by 5.8% in the second quarter. Ballentine Partners LLC now owns 2,413 shares of the technology company’s stock worth $846,000 after purchasing an additional 133 shares in the last quarter. Ausdal Financial Partners Inc. purchased a new position in Arista Networks during the second quarter valued at $229,000. Finally, Quest Partners LLC boosted its holdings in shares of Arista Networks by 183.4% during the 2nd quarter. Quest Partners LLC now owns 1,162 shares of the technology company’s stock valued at $407,000 after buying an additional 752 shares in the last quarter. 82.47% of the stock is owned by 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.