Arista Networks (NYSE:ANET) Trading Down 0.6% – Should You Sell?

Shares of Arista Networks, Inc. (NYSE:ANET) were down 0.6% during trading on Thursday . The company traded as low as $109.16 and last traded at $109.01. Approximately 2,448,563 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 8,690,835 shares. The stock had previously closed at $109.64.

Analyst Ratings Changes

A number of analysts have recently commented on ANET shares. Barclays cut their price objective on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. Rosenblatt Securities boosted their price objective on shares of Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a research report on Friday, November 8th. UBS Group boosted their target price on shares of Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a report on Friday, November 8th. The Goldman Sachs Group boosted their target price on shares of Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Finally, Wells Fargo & Company boosted their target price 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $105.83.

Arista Networks Stock Performance

The firm has a 50 day simple moving average of $113.91 and a two-hundred day simple moving average of $100.65. The firm has a market capitalization of $138.08 billion, a P/E ratio of 52.68, a PEG ratio of 3.10 and a beta of 1.09.

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 transaction of $7,107,506.98. Following the sale, the chief executive officer now directly owns 70,724 shares in the company, valued at $7,076,289.82. The trade was a 50.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $412.65, for a total value of $825,300.00. Following the sale, the director now owns 42,946 shares in the company, valued at $17,721,666.90. The trade was a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 335,832 shares of company stock worth $37,787,297. Corporate insiders own 3.54% of the company’s stock.

Institutional Investors Weigh In On Arista Networks

A number of hedge funds have recently made changes to their positions in the business. Caitlin John LLC raised its stake in 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 acquiring an additional 152 shares during the period. Capital Advisors Ltd. LLC increased its position in shares of Arista Networks by 335.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock valued at $27,000 after buying an additional 191 shares during the period. Cranbrook Wealth Management LLC increased its position in shares of Arista Networks by 300.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after buying an additional 198 shares during the period. Trust Co. of Vermont increased its position in shares of Arista Networks by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after buying an additional 198 shares during the period. Finally, New Millennium Group LLC increased its position in shares of Arista Networks by 300.0% in the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock worth $29,000 after purchasing an additional 195 shares during the last quarter. 82.47% of the stock is currently owned by 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.