Short Interest in Arista Networks, Inc. (NYSE:ANET) Drops By 22.8%

Arista Networks, Inc. (NYSE:ANET) was the recipient of a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 9,880,000 shares, a decline of 22.8% from the January 15th total of 12,790,000 shares. Based on an average daily volume of 8,460,000 shares, the days-to-cover ratio is presently 1.2 days.

Arista Networks Trading Down 2.8 %

ANET opened at $106.64 on Friday. The stock has a market capitalization of $134.35 billion, a P/E ratio of 51.27, a P/E/G ratio of 3.10 and a beta of 1.09. Arista Networks has a 12 month low of $60.08 and a 12 month high of $133.57. The firm’s fifty day simple moving average is $113.97 and its 200 day simple moving average is $100.72.

Insider Buying and Selling at Arista Networks

In other news, CEO Jayshree Ullal sold 71,036 shares of Arista Networks stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $100.06, for a total value of $7,107,506.98. Following the completion of the sale, the chief executive officer now directly owns 70,724 shares of the company’s stock, valued at approximately $7,076,289.82. This trade represents a 50.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John F. Mccool sold 6,340 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $98.58, for a total value of $625,013.05. Following the transaction, the insider now directly owns 288 shares in the company, valued at $28,391.76. This trade represents a 95.65 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 335,832 shares of company stock worth $37,787,297. 3.54% of the stock is currently owned by insiders.

Institutional Trading of Arista Networks

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Arista Networks by 304.2% in the 4th quarter. Vanguard Group Inc. now owns 96,084,951 shares of the technology company’s stock valued at $10,620,270,000 after acquiring an additional 72,311,318 shares in the last quarter. FMR LLC lifted its position in shares of Arista Networks by 330.9% in the fourth quarter. FMR LLC now owns 57,648,129 shares of the technology company’s stock worth $6,371,848,000 after purchasing an additional 44,269,572 shares in the last quarter. Geode Capital Management LLC grew its position in Arista Networks by 311.6% in the fourth quarter. Geode Capital Management LLC now owns 24,165,355 shares of the technology company’s stock valued at $2,665,829,000 after purchasing an additional 18,293,874 shares in the last quarter. Alliancebernstein L.P. lifted its position in Arista Networks by 218.5% during the 4th quarter. Alliancebernstein L.P. now owns 21,070,016 shares of the technology company’s stock worth $2,328,869,000 after buying an additional 14,454,822 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Arista Networks during the 4th quarter worth about $1,397,833,000. 82.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ANET shares. UBS Group boosted their price target on shares of Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Evercore ISI increased their price target on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. StockNews.com cut Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Wells Fargo & Company increased their target price on Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Rosenblatt Securities boosted their target price on Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $107.59.

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.