Arista Networks (NYSE:ANET) Trading Down 0.1% – Should You Sell?

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

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Citigroup upped their price target on Arista Networks from $96.25 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Morgan Stanley upped their target price on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. UBS Group lifted 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. Wells Fargo & Company upped their price objective on shares of Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group lifted their target price on shares of Arista Networks from $97.50 to $107.50 and gave the stock a “buy” rating in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $100.70.

Arista Networks Stock Up 1.4 %

The business has a 50-day moving average price of $102.70 and a 200-day moving average price of $93.16. The firm has a market capitalization of $144.43 billion, a P/E ratio of 55.12, a PEG ratio of 3.21 and a beta of 1.10.

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

Insider Buying and Selling

In other Arista Networks news, insider John F. Mccool sold 288 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $108.70, for a total transaction of $31,305.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Marc Taxay sold 2,496 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $97.09, for a total transaction of $242,342.88. The disclosure for this sale can be found here. Insiders sold 353,476 shares of company stock valued at $36,841,998 over the last quarter. Corporate insiders own 3.54% of the company’s stock.

Institutional Trading of Arista Networks

Hedge funds have recently modified their holdings of the company. Ameriprise Financial Inc. grew its position in Arista Networks by 97.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company’s stock worth $628,966,000 after acquiring an additional 884,703 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Arista Networks by 39,841.1% in the third quarter. International Assets Investment Management LLC now owns 875,110 shares of the technology company’s stock worth $3,358,850,000 after purchasing an additional 872,919 shares in the last quarter. 1832 Asset Management L.P. grew its holdings in shares of Arista Networks by 4,160.9% during the second quarter. 1832 Asset Management L.P. now owns 515,700 shares of the technology company’s stock worth $180,743,000 after purchasing an additional 503,597 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Arista Networks by 22.7% in the third quarter. Wellington Management Group LLP now owns 2,660,695 shares of the technology company’s stock valued at $1,021,228,000 after buying an additional 492,615 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Arista Networks by 3.8% in the third quarter. State Street Corp now owns 11,237,635 shares of the technology company’s stock valued at $4,313,229,000 after buying an additional 411,109 shares during the last quarter. Institutional investors and hedge funds 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.