Arista Networks (NYSE:ANET) Shares Down 3.7% – Here’s What Happened

Arista Networks, Inc. (NYSE:ANET)’s stock price fell 3.7% during mid-day trading on Thursday . The stock traded as low as $156.65 and last traded at $160.3830. Approximately 9,716,918 shares changed hands during mid-day trading, an increase of 11% from the average daily volume of 8,765,878 shares. The stock had previously closed at $166.62.

Wall Street Analysts Forecast Growth

ANET has been the topic of a number of recent research reports. Weiss Ratings downgraded Arista Networks from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, June 15th. Piper Sandler reissued an “overweight” rating and issued a $181.00 target price (up from $175.00) on shares of Arista Networks in a report on Wednesday, May 6th. Susquehanna upgraded Arista Networks to a “strong-buy” rating in a research report on Wednesday, April 1st. Needham & Company LLC restated a “buy” rating and set a $185.00 target price on shares of Arista Networks in a research report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. boosted their price target on Arista Networks from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Arista Networks currently has an average rating of “Buy” and an average target price of $187.63.

Arista Networks Price Performance

The stock has a market capitalization of $201.95 billion, a P/E ratio of 54.93, a PEG ratio of 2.62 and a beta of 1.61. The company’s 50 day simple moving average is $159.67 and its two-hundred day simple moving average is $143.55.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.06. Arista Networks had a net margin of 38.32% and a return on equity of 30.10%. The company had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same quarter last year, the business posted $0.65 earnings per share. The company’s revenue was up 35.1% on a year-over-year basis. Arista Networks has set its Q2 2026 guidance at 0.880-0.880 EPS. On average, research analysts anticipate that Arista Networks, Inc. will post 3.27 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Kenneth Duda sold 17,333 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $171.42, for a total transaction of $2,971,222.86. Following the sale, the insider owned 12,976 shares in the company, valued at approximately $2,224,345.92. This represents a 57.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $169.09, for a total value of $1,352,720.00. Following the completion of the sale, the director owned 200,333 shares of the company’s stock, valued at approximately $33,874,306.97. This trade represents a 3.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 2,639,080 shares of company stock worth $430,322,162. 2.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Arista Networks

Institutional investors have recently modified their holdings of the stock. Board of the Pension Protection Fund bought a new stake in shares of Arista Networks during the fourth quarter valued at approximately $26,000. Main Street Group LTD bought a new position in Arista Networks in the 1st quarter worth approximately $26,000. Sankala Group LLC acquired a new position in Arista Networks during the 4th quarter worth $27,000. Prosperity Bancshares Inc acquired a new position in Arista Networks during the 4th quarter worth $28,000. Finally, Knuff & Co LLC bought a new position in Arista Networks in the 3rd quarter valued at $29,000. 82.47% of the stock is owned by institutional investors.

Arista Networks Company Profile

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.