Arista Networks (NYSE:ANET) Trading Down 2.2% Following Insider Selling

Arista Networks, Inc. (NYSE:ANET - Get Free Report) was down 2.2% during trading on Tuesday after an insider sold shares in the company. The company traded as low as $114.62 and last traded at $116.42. Approximately 2,124,512 shares were traded during trading, a decline of 60% from the average daily volume of 5,349,315 shares. The stock had previously closed at $118.98.

Specifically, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $111.51, for a total value of $892,080.00. Following the sale, the director now directly owns 163,784 shares in the company, valued at $18,263,553.84. This represents a 4.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ANET shares. Barclays lowered their price objective on Arista Networks from $495.00 to $125.00 and set an "overweight" rating on the stock in a research report on Wednesday, December 4th. UBS Group raised their price target on Arista Networks from $92.25 to $106.25 and gave the company a "neutral" rating in a report on Friday, November 8th. Morgan Stanley upped their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. Rosenblatt Securities lifted their target price on shares of Arista Networks from $66.25 to $80.00 and gave the company a "sell" rating in a research report on Friday, November 8th. Finally, The Goldman Sachs Group upped their target price on shares of Arista Networks from $97.50 to $107.50 and gave the stock a "buy" rating in a research report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $100.70.

Arista Networks Trading Down 3.0 %

The business has a fifty day moving average of $105.14 and a 200-day moving average of $95.19. The company has a market cap of $145.39 billion, a PE ratio of 55.49, a P/E/G ratio of 3.21 and a beta of 1.08.

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

Institutional Investors Weigh In On Arista Networks

A number of large investors have recently modified their holdings of ANET. Private Advisor Group LLC grew its holdings in Arista Networks by 152.6% in the second quarter. Private Advisor Group LLC now owns 13,001 shares of the technology company's stock worth $4,557,000 after purchasing an additional 7,854 shares during the period. Cullen Frost Bankers Inc. raised its stake in Arista Networks by 37.2% during the second quarter. Cullen Frost Bankers Inc. now owns 642 shares of the technology company's stock valued at $225,000 after buying an additional 174 shares during the last quarter. Asset Dedication LLC boosted its holdings in Arista Networks by 2,842.1% in the second quarter. Asset Dedication LLC now owns 559 shares of the technology company's stock worth $196,000 after acquiring an additional 540 shares in the last quarter. Caprock Group LLC grew its stake in shares of Arista Networks by 10.3% in the second quarter. Caprock Group LLC now owns 5,954 shares of the technology company's stock worth $2,087,000 after acquiring an additional 554 shares during the last quarter. Finally, Ballentine Partners LLC increased its holdings in shares of Arista Networks by 5.8% during the second quarter. Ballentine Partners LLC now owns 2,413 shares of the technology company's stock valued at $846,000 after acquiring an additional 133 shares in the last quarter. Institutional investors 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.