Arista Networks (NYSE:ANET) Shares Down 0.1% - Here's Why

Arista Networks, Inc. (NYSE:ANET - Get Free Report)'s share price fell 0.1% on Tuesday . The stock traded as low as $110.74 and last traded at $111.30. 585,245 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 8,675,958 shares. The stock had previously closed at $111.45.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ANET shares. The Goldman Sachs Group boosted their price objective on Arista Networks from $97.50 to $107.50 and gave the stock a "buy" rating in a report on Tuesday, September 24th. Rosenblatt Securities boosted their price target on Arista Networks from $66.25 to $80.00 and gave the company a "sell" rating in a research note on Friday, November 8th. StockNews.com lowered Arista Networks from a "buy" rating to a "hold" rating in a report on Thursday, December 12th. UBS Group lifted their target price on Arista Networks from $92.25 to $106.25 and gave the stock a "neutral" rating in a report on Friday, November 8th. Finally, Citigroup upped their price target on shares of Arista Networks from $96.25 to $115.00 and gave the company a "buy" rating in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Arista Networks presently has an average rating of "Moderate Buy" and an average target price of $100.70.

Arista Networks Trading Down 0.8 %

The company has a market cap of $139.24 billion, a P/E ratio of 53.14, a price-to-earnings-growth ratio of 3.21 and a beta of 1.10. The company has a 50 day moving average price of $103.90 and a 200-day moving average price of $94.37.

Arista Networks (NYSE:ANET - Get Free Report) last released its earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.76 billion. During the same quarter in the previous year, the business posted $0.41 earnings per share. The business's revenue for the quarter was up 20.0% on a year-over-year basis. Equities analysts expect that Arista Networks, Inc. will post 1.96 earnings per share for the current year.

Insiders Place Their Bets

In other Arista Networks news, insider John F. Mccool sold 288 shares of the 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 is available through this link. Also, SVP Kenneth Duda sold 80,000 shares of the business's stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $98.67, for a total value of $7,893,800.00. Following the sale, the senior vice president now owns 12,976 shares in the company, valued at approximately $1,280,374.36. This trade represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 340,660 shares of company stock valued at $35,609,360. 3.54% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Arista Networks

Hedge funds have recently modified their holdings of the business. LGT Financial Advisors LLC acquired a new position in Arista Networks during the 2nd quarter worth about $27,000. Anchor Investment Management LLC bought a new position in shares of Arista Networks during the second quarter worth about $35,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Arista Networks in the third quarter worth approximately $44,000. HM Payson & Co. boosted its holdings in Arista Networks by 28.2% in the third quarter. HM Payson & Co. now owns 132 shares of the technology company's stock valued at $51,000 after acquiring an additional 29 shares during the last quarter. Finally, True Wealth Design LLC increased its position in Arista Networks by 2,133.3% during the 3rd quarter. True Wealth Design LLC now owns 134 shares of the technology company's stock valued at $51,000 after purchasing an additional 128 shares during the period. 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.