Arista Networks (NYSE:ANET) Shares Down 1.5% - Should You Sell?

Arista Networks, Inc. (NYSE:ANET - Get Free Report) shares traded down 1.5% during trading on Tuesday . The company traded as low as $83.23 and last traded at $83.85. 2,552,537 shares changed hands during trading, a decline of 71% from the average session volume of 8,655,187 shares. The stock had previously closed at $85.09.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Wells Fargo & Company reiterated an "overweight" rating on shares of Arista Networks in a research report on Monday, March 3rd. Morgan Stanley lifted their target price on Arista Networks from $102.50 to $118.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. UBS Group upgraded Arista Networks from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $112.00 to $115.00 in a research report on Wednesday, March 5th. Citigroup lifted their target price on Arista Networks from $115.00 to $121.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Finally, Erste Group Bank cut Arista Networks from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Arista Networks has a consensus rating of "Moderate Buy" and a consensus target price of $114.00.

Arista Networks Trading Up 0.3 %

The company has a 50 day moving average price of $102.53 and a 200 day moving average price of $101.89. The firm has a market cap of $104.99 billion, a PE ratio of 37.50, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08.

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

Insider Transactions at Arista Networks

In related news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $118.47, for a total transaction of $9,477,600.00. Following the sale, the senior vice president now owns 12,976 shares in the company, valued at $1,537,266.72. This represents a 86.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $111.51, for a total transaction of $892,080.00. Following the sale, the director now owns 163,784 shares in the company, valued at approximately $18,263,553.84. This trade represents a 4.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 491,001 shares of company stock valued at $49,112,111 in the last quarter. 3.54% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Arista Networks

Several large investors have recently made changes to their positions in ANET. Anchor Investment Management LLC raised its holdings in shares of Arista Networks by 35.0% during the third quarter. Anchor Investment Management LLC now owns 135 shares of the technology company's stock valued at $52,000 after buying an additional 35 shares during the last quarter. Freedom Investment Management Inc. raised its holdings in shares of Arista Networks by 2.3% during the third quarter. Freedom Investment Management Inc. now owns 1,621 shares of the technology company's stock valued at $622,000 after buying an additional 36 shares during the last quarter. LRI Investments LLC raised its holdings in shares of Arista Networks by 3.1% during the third quarter. LRI Investments LLC now owns 1,368 shares of the technology company's stock valued at $528,000 after buying an additional 41 shares during the last quarter. Rehmann Capital Advisory Group raised its holdings in shares of Arista Networks by 3.8% during the third quarter. Rehmann Capital Advisory Group now owns 1,177 shares of the technology company's stock valued at $453,000 after buying an additional 43 shares during the last quarter. Finally, Brooklyn Investment Group raised its holdings in shares of Arista Networks by 3.3% during the third quarter. Brooklyn Investment Group now owns 1,862 shares of the technology company's stock valued at $715,000 after buying an additional 59 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company's stock.

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.