Arista Networks (NYSE:ANET) Trading Down 2% - Time to Sell?

Shares of Arista Networks, Inc. (NYSE:ANET - Get Free Report) traded down 2% during trading on Monday . The stock traded as low as $109.09 and last traded at $112.07. 1,816,834 shares changed hands during trading, a decline of 67% from the average session volume of 5,572,404 shares. The stock had previously closed at $114.34.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Evercore ISI lifted their target price on shares of Arista Networks from $100.00 to $106.25 and gave the stock an "outperform" rating in a report on Tuesday, October 1st. Wells Fargo & Company increased their target price on Arista Networks from $97.50 to $115.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. Morgan Stanley upped their price target on Arista Networks from $102.50 to $118.00 and gave the company an "overweight" rating in a report on Tuesday, December 17th. StockNews.com downgraded Arista Networks from a "buy" rating to a "hold" rating in a report on Thursday, December 12th. Finally, The Goldman Sachs Group upped their target price on shares of Arista Networks from $97.50 to $107.50 and gave the company a "buy" rating in a research note on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $102.42.

Arista Networks Stock Performance

The stock has a fifty day moving average of $106.76 and a 200 day moving average of $96.26. The company has a market capitalization of $142.04 billion, a P/E ratio of 54.21, a PEG ratio of 3.21 and a beta of 1.08.

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

Insider Transactions at Arista Networks

In related news, insider John F. Mccool sold 288 shares of the business's stock in a transaction that occurred on 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 legal filing with the SEC, which is available through this link. Also, SVP Marc Taxay sold 2,496 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $96.83, for a total transaction of $241,693.92. The disclosure for this sale can be found here. Insiders sold a total of 345,316 shares of company stock valued at $37,761,976 over the last three months. Corporate insiders own 3.54% of the company's stock.

Institutional Trading of Arista Networks

Several hedge funds have recently bought and sold shares of ANET. Anchor Investment Management LLC purchased a new stake in shares of Arista Networks in the second quarter worth approximately $35,000. MidAtlantic Capital Management Inc. acquired a new position in Arista Networks during the 3rd quarter valued at about $44,000. ORG Partners LLC raised its position in shares of Arista Networks by 179.7% in the 4th quarter. ORG Partners LLC now owns 400 shares of the technology company's stock valued at $44,000 after purchasing an additional 257 shares during the last quarter. PSI Advisors LLC lifted its stake in shares of Arista Networks by 300.0% during the fourth quarter. PSI Advisors LLC now owns 400 shares of the technology company's stock worth $44,000 after buying an additional 300 shares during the period. Finally, HM Payson & Co. grew its stake in Arista Networks by 28.2% during the 3rd quarter. HM Payson & Co. now owns 132 shares of the technology company's stock valued at $51,000 after purchasing an additional 29 shares during the last quarter. Hedge funds and other 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.