Evercore ISI Has Lowered Expectations for Arista Networks (NYSE:ANET) Stock Price

Arista Networks (NYSE:ANET - Free Report) had its price target trimmed by Evercore ISI from $130.00 to $100.00 in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The firm currently has an outperform rating on the technology company's stock.

ANET has been the subject of a number of other reports. Morgan Stanley lowered their price target on shares of Arista Networks from $118.00 to $73.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Barclays reissued an "overweight" rating on shares of Arista Networks in a research report on Monday, March 3rd. UBS Group raised Arista Networks from a "neutral" rating to a "buy" rating and increased their price target for the company from $112.00 to $115.00 in a report on Wednesday, March 5th. Erste Group Bank downgraded shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 17th. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Arista Networks in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $106.07.

Arista Networks Trading Down 1.1 %

NYSE ANET traded down $0.77 during trading on Tuesday, hitting $71.11. The company had a trading volume of 8,564,418 shares, compared to its average volume of 9,122,801. The company's fifty day moving average is $84.23 and its 200-day moving average is $99.27. Arista Networks has a one year low of $59.43 and a one year high of $133.58. The company has a market cap of $89.67 billion, a price-to-earnings ratio of 32.03, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. As a group, equities analysts anticipate that Arista Networks will post 2.2 EPS for the current year.

Insider Activity at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the company's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $115.61, for a total transaction of $9,248,800.00. Following the transaction, the senior vice president now owns 12,976 shares in the company, valued at approximately $1,500,155.36. This represents a 86.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $77.55, for a total transaction of $620,400.00. Following the sale, the director now directly owns 139,784 shares in the company, valued at $10,840,249.20. This trade represents a 5.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 411,031 shares of company stock valued at $39,364,943 over the last 90 days. Insiders own 3.54% of the company's stock.

Institutional Trading of Arista Networks

Several institutional investors and hedge funds have recently bought and sold shares of the business. Caitlin John LLC increased its holdings in Arista Networks by 174.7% in the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company's stock valued at $26,000 after buying an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC increased its position in shares of Arista Networks by 335.1% in 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 in the last quarter. New Millennium Group LLC lifted its holdings in 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 in the last quarter. Quarry LP boosted its holdings in Arista Networks by 381.5% in the 4th quarter. Quarry LP now owns 260 shares of the technology company's stock worth $29,000 after buying an additional 206 shares during the last quarter. Finally, Dunhill Financial LLC increased its stake in Arista Networks by 415.7% during the 4th quarter. Dunhill Financial LLC now owns 263 shares of the technology company's stock worth $29,000 after buying an additional 212 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

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.