Arista Networks (NYSE:ANET) Stock Price Down 1.3% – Time to Sell?

Arista Networks, Inc. (NYSE:ANET) shares were down 1.3% during trading on Tuesday . The company traded as low as $132.37 and last traded at $132.4190. Approximately 3,807,161 shares traded hands during trading, a decline of 61% from the average daily volume of 9,654,623 shares. The stock had previously closed at $134.15.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ANET shares. Melius Research raised their price target on Arista Networks from $160.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. BNP Paribas upgraded Arista Networks from a “hold” rating to an “outperform” rating in a research report on Thursday, September 25th. Erste Group Bank lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Monday, November 10th. Evercore ISI raised their price target on shares of Arista Networks from $150.00 to $175.00 and gave the stock an “outperform” rating in a research note on Friday, September 12th. Finally, Barclays reaffirmed an “overweight” rating and set a $183.00 target price (up from $179.00) on shares of Arista Networks in a research report on Wednesday, November 5th. Seventeen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $163.56.

Arista Networks Stock Down 1.3%

The business has a 50-day moving average price of $134.76 and a 200-day moving average price of $129.71. The firm has a market capitalization of $166.75 billion, a price-to-earnings ratio of 50.35, a P/E/G ratio of 2.52 and a beta of 1.41.

Arista Networks (NYSE:ANET) last announced its earnings results on Tuesday, November 4th. The technology company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.03. The company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.26 billion. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.The firm’s quarterly revenue was up 27.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.40 EPS. On average, equities research analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Insider Activity

In other Arista Networks news, CEO Jayshree Ullal sold 24,042 shares of the stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $124.55, for a total transaction of $2,994,431.10. Following the transaction, the chief executive officer owned 9,917 shares in the company, valued at approximately $1,235,162.35. This represents a 70.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $128.09, for a total value of $1,024,720.00. Following the completion of the sale, the director owned 25,784 shares of the company’s stock, valued at $3,302,672.56. This trade represents a 23.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 216,464 shares of company stock worth $28,598,588 in the last ninety days. Corporate insiders own 3.54% of the company’s stock.

Institutional Investors Weigh In On Arista Networks

Several institutional investors have recently bought and sold shares of ANET. SteelPeak Wealth LLC boosted its stake in shares of Arista Networks by 23.8% in the second quarter. SteelPeak Wealth LLC now owns 40,404 shares of the technology company’s stock valued at $4,134,000 after purchasing an additional 7,779 shares during the period. Penobscot Investment Management Company Inc. boosted its position in Arista Networks by 7.8% in the 2nd quarter. Penobscot Investment Management Company Inc. now owns 39,073 shares of the technology company’s stock valued at $3,998,000 after buying an additional 2,815 shares during the period. Vanguard Group Inc. grew its stake in shares of Arista Networks by 1.2% in the second quarter. Vanguard Group Inc. now owns 98,993,100 shares of the technology company’s stock worth $10,127,984,000 after acquiring an additional 1,136,167 shares in the last quarter. Holocene Advisors LP acquired a new stake in shares of Arista Networks in the second quarter valued at $247,451,000. Finally, Soltis Investment Advisors LLC raised its stake in shares of Arista Networks by 99.3% in the second quarter. Soltis Investment Advisors LLC now owns 40,428 shares of the technology company’s stock valued at $4,136,000 after acquiring an additional 20,141 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

About Arista Networks

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.