Arista Networks (NYSE:ANET) Shares Down 0.4% – What’s Next?

Arista Networks, Inc. (NYSE:ANET) dropped 0.4% on Tuesday . The company traded as low as $109.04 and last traded at $111.04. Approximately 2,479,055 shares traded hands during trading, a decline of 73% from the average daily volume of 9,124,867 shares. The stock had previously closed at $111.50.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ANET shares. Barclays dropped their price target on Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. Citigroup increased their price target on shares of Arista Networks from $96.25 to $115.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. StockNews.com downgraded Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Evercore ISI lifted their price target on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Finally, The Goldman Sachs Group upped their price objective on Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Arista Networks has a consensus rating of “Moderate Buy” and an average price target of $105.83.

Arista Networks Stock Up 0.4 %

The firm has a 50 day moving average price of $112.08 and a 200 day moving average price of $99.15. The stock has a market capitalization of $141.08 billion, a PE ratio of 53.84, a P/E/G ratio of 3.10 and a beta of 1.09.

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 the consensus estimate of $0.52 by $0.08. The company had revenue of $1.81 billion during 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 firm’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.41 earnings per share. On average, equities analysts forecast that Arista Networks, Inc. will post 1.97 earnings per share for the current fiscal year.

Insider Activity

In other Arista Networks news, insider John F. Mccool sold 288 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $108.70, for a total value of $31,305.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $105.09, for a total transaction of $8,407,200.00. Following the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at $1,363,647.84. This trade represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 327,832 shares of company stock worth $36,049,537. 3.54% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Arista Networks

Several institutional investors and hedge funds have recently bought and sold shares of the business. Caitlin John LLC lifted its stake in shares of Arista Networks by 174.7% in the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after purchasing an additional 152 shares during the period. Capital Advisors Ltd. LLC lifted its position in Arista Networks by 335.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock valued at $27,000 after acquiring an additional 191 shares during the period. Cranbrook Wealth Management LLC boosted its stake in Arista Networks by 300.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock worth $29,000 after acquiring an additional 198 shares in the last quarter. Trust Co. of Vermont grew its holdings in Arista Networks by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock worth $29,000 after purchasing an additional 198 shares during the period. Finally, New Millennium Group LLC lifted its holdings in shares of Arista Networks by 300.0% during the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after purchasing an additional 195 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

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.