Arista Networks (NYSE:ANET) Stock Price Down 1% – Time to Sell?

Arista Networks, Inc. (NYSE:ANET)’s stock price traded down 1% on Wednesday . The company traded as low as $110.78 and last traded at $111.81. 1,170,208 shares were traded during trading, a decline of 87% from the average session volume of 8,802,737 shares. The stock had previously closed at $112.95.

Analyst Ratings Changes

ANET has been the subject of a number of analyst reports. Piper Sandler reaffirmed a “neutral” rating and issued a $105.25 price target (up previously from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. Evercore ISI increased their price target on shares of Arista Networks from $100.00 to $106.25 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. The Goldman Sachs Group raised their target price on Arista Networks from $97.50 to $107.50 and gave the company a “buy” rating in a report on Tuesday, September 24th. Morgan Stanley boosted their price target on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Citigroup raised their price objective on Arista Networks from $96.25 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. One 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $100.70.

Arista Networks Price Performance

The company has a market capitalization of $141.55 billion, a P/E ratio of 54.02, a P/E/G ratio of 3.21 and a beta of 1.10. The stock has a 50-day moving average price of $101.74 and a 200-day moving average price of $91.84.

Arista Networks (NYSE:ANET) last released its quarterly earnings data 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 firm had revenue of $1.81 billion for 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 business’s revenue was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.41 earnings per share. Sell-side analysts anticipate that Arista Networks, Inc. will post 1.96 EPS for the current fiscal year.

Insider Transactions at Arista Networks

In other news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $108.29, for a total value of $8,663,200.00. Following the sale, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at approximately $1,405,171.04. This represents a 86.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John F. Mccool sold 288 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $108.70, for a total transaction of $31,305.60. The disclosure for this sale can be found here. Insiders have sold 353,476 shares of company stock worth $36,841,998 in the last ninety days. Company insiders own 3.54% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. State Street Corp boosted its holdings in shares of Arista Networks by 3.8% during the 3rd 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 in the last quarter. Geode Capital Management LLC increased its holdings in shares of Arista Networks by 4.2% during the third quarter. Geode Capital Management LLC now owns 5,871,481 shares of the technology company’s stock valued at $2,246,705,000 after acquiring an additional 236,151 shares in the last quarter. Wellington Management Group LLP boosted its stake in Arista Networks by 22.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,660,695 shares of the technology company’s stock worth $1,021,228,000 after purchasing an additional 492,615 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Arista Networks by 4.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,283,573 shares of the technology company’s stock valued at $876,481,000 after purchasing an additional 99,790 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of Arista Networks by 0.9% during the second quarter. Legal & General Group Plc now owns 2,195,733 shares of the technology company’s stock valued at $769,560,000 after acquiring an additional 20,278 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other 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.