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Arista Networks (NYSE:ANET) Stock Price Down 1.9% - Should You Sell?

Arista Networks logo with Computer and Technology background

Arista Networks, Inc. (NYSE:ANET - Get Free Report) traded down 1.9% on Friday . The stock traded as low as $112.65 and last traded at $113.33. 1,440,074 shares traded hands during trading, a decline of 74% from the average session volume of 5,530,716 shares. The stock had previously closed at $115.51.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ANET shares. The Goldman Sachs Group raised their price objective on shares of Arista Networks from $97.50 to $107.50 and gave the stock a "buy" rating in a report on Tuesday, September 24th. Barclays cut their price target 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. Evercore ISI increased their price objective on Arista Networks from $100.00 to $106.25 and gave the company an "outperform" rating in a report on Tuesday, October 1st. StockNews.com cut shares of Arista Networks from a "buy" rating to a "hold" rating in a report on Thursday, December 12th. Finally, Citigroup raised their price objective on shares of Arista Networks from $96.25 to $115.00 and gave the stock a "buy" rating in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $102.42.

View Our Latest Report on ANET

Arista Networks Trading Down 0.9 %

The firm has a 50 day moving average of $106.48 and a two-hundred day moving average of $95.91. The stock has a market capitalization of $144.19 billion, a PE ratio of 55.03, a P/E/G ratio of 3.21 and a beta of 1.08.

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

Insider Buying and Selling at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $412.65, for a total value of $825,300.00. Following the transaction, the director now owns 42,946 shares in the company, valued at $17,721,666.90. This trade represents a 4.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kelly Bodnar Battles sold 1,492 shares of the company's stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $99.12, for a total value of $147,887.04. Following the sale, the director now owns 8,768 shares of the company's stock, valued at approximately $869,084.16. The trade was a 14.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 345,316 shares of company stock worth $37,761,976. 3.54% of the stock is owned by insiders.

Hedge Funds Weigh In On Arista Networks

A number of hedge funds have recently made changes to their positions in ANET. Anchor Investment Management LLC acquired a new position in shares of Arista Networks during the second quarter worth $35,000. MidAtlantic Capital Management Inc. acquired a new position in Arista Networks in the 3rd quarter worth $44,000. HM Payson & Co. boosted its position in Arista Networks by 28.2% in the 3rd quarter. HM Payson & Co. now owns 132 shares of the technology company's stock valued at $51,000 after buying an additional 29 shares during the last quarter. True Wealth Design LLC grew its stake in shares of Arista Networks by 2,133.3% during the third quarter. True Wealth Design LLC now owns 134 shares of the technology company's stock valued at $51,000 after acquiring an additional 128 shares in the last quarter. Finally, ORG Partners LLC increased its position in shares of Arista Networks by 186.0% during the third quarter. ORG Partners LLC now owns 143 shares of the technology company's stock worth $55,000 after acquiring an additional 93 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company's stock.

About Arista Networks

(Get Free Report)

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.

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