Arista Networks, Inc. (NYSE:ANET) Sees Significant Decrease in Short Interest

Arista Networks, Inc. (NYSE:ANET - Get Free Report) was the target of a large drop in short interest in January. As of January 31st, there was short interest totalling 9,880,000 shares, a drop of 22.8% from the January 15th total of 12,790,000 shares. Based on an average daily volume of 8,460,000 shares, the short-interest ratio is currently 1.2 days.

Wall Street Analyst Weigh In

A number of research analysts have commented on ANET shares. Evercore ISI increased their price objective on shares of Arista Networks from $110.00 to $130.00 and gave the company an "outperform" rating in a research note on Friday, January 17th. StockNews.com downgraded shares of Arista Networks from a "buy" rating to a "hold" rating in a research report on Thursday, December 12th. Barclays reduced their price target on shares of Arista Networks from $495.00 to $125.00 and set an "overweight" rating on the stock in a research report on Wednesday, December 4th. Rosenblatt Securities restated a "sell" rating and issued a $80.00 price target on shares of Arista Networks in a research report on Tuesday. Finally, UBS Group raised their price target on shares of Arista Networks from $92.25 to $106.25 and gave the stock a "neutral" rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Arista Networks currently has an average rating of "Moderate Buy" and an average target price of $107.59.

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Insider Activity at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at $1,405,171.04. This represents a 86.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John F. Mccool sold 6,340 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $98.58, for a total transaction of $625,013.05. Following the transaction, the insider now owns 288 shares in the company, valued at $28,391.76. This trade represents a 95.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 337,320 shares of company stock valued at $37,946,706. Corporate insiders own 3.54% of the company's stock.

Hedge Funds Weigh In On Arista Networks

Several hedge funds have recently made changes to their positions in the business. Zions Bancorporation N.A. grew its stake in shares of Arista Networks by 6.9% in the 3rd quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company's stock worth $160,000 after purchasing an additional 27 shares during the last quarter. Intellectus Partners LLC boosted its holdings in shares of Arista Networks by 1.4% in the third quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company's stock worth $740,000 after buying an additional 27 shares during the period. Altman Advisors Inc. boosted its holdings in shares of Arista Networks by 0.5% in the third quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company's stock worth $2,250,000 after buying an additional 28 shares during the period. HM Payson & Co. boosted its holdings in shares of Arista Networks by 28.2% during the third quarter. HM Payson & Co. now owns 132 shares of the technology company's stock worth $51,000 after purchasing an additional 29 shares during the period. Finally, Beacon Financial Advisory LLC grew its position in Arista Networks by 4.9% during the third quarter. Beacon Financial Advisory LLC now owns 640 shares of the technology company's stock valued at $246,000 after purchasing an additional 30 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company's stock.

Arista Networks Stock Up 3.9 %

Arista Networks stock traded up $4.18 during trading hours on Tuesday, hitting $111.05. 20,565,694 shares of the company traded hands, compared to its average volume of 9,419,350. The firm has a market cap of $139.89 billion, a P/E ratio of 53.39, a P/E/G ratio of 3.10 and a beta of 1.09. The firm's 50-day simple moving average is $113.95 and its two-hundred day simple moving average is $101.32. Arista Networks has a 1-year low of $60.08 and a 1-year high of $133.57.

Arista Networks (NYSE:ANET - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. On average, equities research analysts predict that Arista Networks will post 1.97 earnings per share for the current year.

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.