Arista Networks (NYSE:ANET) Stock Price Down 1.2% – Time to Sell?

Arista Networks, Inc. (NYSE:ANET)’s stock price was down 1.2% on Thursday . The stock traded as low as $126.72 and last traded at $128.31. Approximately 1,668,816 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 6,136,708 shares. The stock had previously closed at $129.82.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ANET shares. StockNews.com cut Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. UBS Group boosted their price target on Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a report on Friday, November 8th. Rosenblatt Securities increased their price target on shares of Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a report on Friday, November 8th. Barclays reduced their price target on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. Finally, Piper Sandler reissued a “neutral” rating and issued a $105.25 price objective (up previously from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Arista Networks presently has an average rating of “Moderate Buy” and a consensus target price of $105.83.

Arista Networks Stock Down 0.6 %

The firm has a market capitalization of $162.54 billion, a price-to-earnings ratio of 62.02, a P/E/G ratio of 3.26 and a beta of 1.08. The company has a fifty day moving average price of $109.32 and a two-hundred day moving average price of $97.69.

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, beating analysts’ consensus estimates of $0.52 by $0.08. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.76 billion. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The company’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.41 earnings per share. On average, equities analysts anticipate that Arista Networks, Inc. will post 1.97 earnings per share for the current fiscal year.

Insider Activity at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $98.30, for a total transaction of $786,360.00. Following the transaction, the director now owns 179,784 shares of the company’s stock, valued at $17,671,868.28. This trade represents a 4.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jayshree Ullal sold 3,328 shares of Arista Networks stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $99.35, for a total value of $330,628.48. Following the completion of the transaction, the chief executive officer now owns 70,724 shares of the company’s stock, valued at approximately $7,026,252.59. The trade was a 4.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 343,824 shares of company stock valued at $37,614,089. Company insiders own 3.54% of the company’s stock.

Institutional Trading of Arista Networks

Several hedge funds have recently added to or reduced their stakes in ANET. Anchor Investment Management LLC bought a new stake in shares of Arista Networks during the 2nd quarter worth $35,000. MidAtlantic Capital Management Inc. purchased a new position in Arista Networks during the 3rd quarter worth approximately $44,000. HM Payson & Co. raised its stake in Arista Networks by 28.2% during the 3rd quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock valued at $51,000 after purchasing an additional 29 shares during the period. True Wealth Design LLC lifted its holdings in shares of Arista Networks by 2,133.3% in 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 in the last quarter. Finally, ORG Partners LLC grew its holdings in shares of Arista Networks by 186.0% during the third quarter. ORG Partners LLC now owns 143 shares of the technology company’s stock valued at $55,000 after buying an additional 93 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.