Arista Networks (NYSE:ANET) Trading Down 0.4% Following Insider Selling

Arista Networks, Inc. (NYSE:ANET - Get Free Report) shares dropped 0.4% on Thursday after an insider sold shares in the company. The company traded as low as $105.48 and last traded at $106.85. Approximately 802,075 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 8,814,710 shares. The stock had previously closed at $107.23.

Specifically, insider John F. Mccool sold 288 shares of Arista Networks stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $108.70, for a total value of $31,305.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the firm's stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the sale, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,405,171.04. The trade was a 86.04 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

ANET has been the topic of a number of research analyst reports. StockNews.com downgraded shares of Arista Networks from a "buy" rating to a "hold" rating in a research report on Thursday. Evercore ISI raised their price target on Arista Networks from $100.00 to $106.25 and gave the stock an "outperform" rating in a research note on Tuesday, October 1st. UBS Group lifted their price objective on 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 increased their target price on Arista Networks from $97.50 to $107.50 and gave the company a "buy" rating in a report on Tuesday, September 24th. Finally, Piper Sandler restated a "neutral" rating and set a $105.25 price target (up from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $98.88.

Arista Networks Price Performance

The firm has a market capitalization of $134.67 billion, a PE ratio of 51.39, a P/E/G ratio of 3.24 and a beta of 1.10. The company has a 50-day moving average price of $100.66 and a 200 day moving average price of $90.72.

Arista Networks (NYSE:ANET - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The technology company reported $0.60 EPS for the quarter, topping analysts' consensus estimates of $0.52 by $0.08. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The company had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.76 billion. During the same period in the previous year, the firm earned $0.41 EPS. The firm's revenue was up 20.0% compared to the same quarter last year. As a group, research analysts anticipate that Arista Networks, Inc. will post 1.96 earnings per share for the current year.

Hedge Funds Weigh In On Arista Networks

Institutional investors have recently bought and sold shares of the stock. State Street Corp grew its holdings in Arista Networks by 3.8% during the 3rd quarter. State Street Corp now owns 11,237,635 shares of the technology company's stock valued at $4,313,229,000 after buying an additional 411,109 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Arista Networks by 4.2% during the 3rd quarter. Geode Capital Management LLC now owns 5,871,481 shares of the technology company's stock valued at $2,246,705,000 after acquiring an additional 236,151 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Arista Networks by 22.7% in the third quarter. Wellington Management Group LLP now owns 2,660,695 shares of the technology company's stock valued at $1,021,228,000 after purchasing an additional 492,615 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Arista Networks by 4.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,283,573 shares of the technology company's stock worth $876,481,000 after purchasing an additional 99,790 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in Arista Networks by 0.9% during the second quarter. Legal & General Group Plc now owns 2,195,733 shares of the technology company's stock valued at $769,560,000 after purchasing an additional 20,278 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other 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.