Arista Networks (NYSE:ANET) Stock Price Down 2.8% - Time to Sell?

Arista Networks, Inc. (NYSE:ANET - Get Free Report) shares traded down 2.8% on Monday . The company traded as low as $106.32 and last traded at $106.64. 12,211,763 shares were traded during mid-day trading, an increase of 32% from the average session volume of 9,228,991 shares. The stock had previously closed at $109.75.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Wells Fargo & Company increased their target price on Arista Networks from $115.00 to $125.00 and gave the stock an "overweight" rating in a research report on Wednesday. Piper Sandler restated a "neutral" rating and issued a $108.00 price objective (up from $106.00) on shares of Arista Networks in a report on Wednesday. Rosenblatt Securities reiterated a "sell" rating and set a $80.00 target price on shares of Arista Networks in a report on Tuesday. The Goldman Sachs Group raised their price target on shares of Arista Networks from $135.00 to $145.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Citigroup boosted their price objective on shares of Arista Networks from $115.00 to $121.00 and gave the stock a "buy" rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $113.79.

Arista Networks Price Performance

The firm has a market capitalization of $130.74 billion, a PE ratio of 49.44, a price-to-earnings-growth ratio of 2.87 and a beta of 1.09. The stock has a 50-day moving average price of $114.08 and a 200-day moving average price of $101.54.

Arista Networks (NYSE:ANET - Get Free Report) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.02. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. As a group, equities research analysts predict that Arista Networks, Inc. will post 1.97 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Charles H. Giancarlo sold 2,000 shares of the business's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $412.65, for a total transaction of $825,300.00. Following the completion of the sale, the director now owns 42,946 shares of the company's stock, valued at $17,721,666.90. This represents a 4.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kelly Bodnar Battles sold 1,488 shares of the firm's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $107.13, for a total transaction of $159,409.44. Following the completion of the transaction, the director now directly owns 8,128 shares in the company, valued at $870,752.64. This represents a 15.47 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 337,320 shares of company stock worth $37,946,706. Corporate insiders own 3.54% of the company's stock.

Institutional Trading of Arista Networks

Several hedge funds have recently made changes to their positions in the stock. Cache Advisors LLC acquired a new stake in Arista Networks in the fourth quarter worth $7,464,000. University of Texas Texas AM Investment Management Co. grew its position in Arista Networks by 300.0% in the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 544 shares of the technology company's stock worth $60,000 after purchasing an additional 408 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Arista Networks in the fourth quarter valued at approximately $50,080,000. Neo Ivy Capital Management raised its holdings in shares of Arista Networks by 900.4% during the fourth quarter. Neo Ivy Capital Management now owns 44,016 shares of the technology company's stock valued at $4,865,000 after buying an additional 39,616 shares during the last quarter. Finally, Vega Investment Solutions acquired a new position in shares of Arista Networks during the fourth quarter worth approximately $892,000. Institutional investors own 82.47% of the company's stock.

About Arista Networks

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.