Arista Networks (NYSE:ANET) Stock Price Down 2.2% on Insider Selling

Shares of Arista Networks, Inc. (NYSE:ANET) fell 2.2% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $114.62 and last traded at $116.42. 2,124,512 shares traded hands during trading, a decline of 60% from the average session volume of 5,349,315 shares. The stock had previously closed at $118.98.

Specifically, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $111.51, for a total value of $892,080.00. Following the completion of the sale, the director now owns 163,784 shares in the company, valued at approximately $18,263,553.84. This trade represents a 4.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Wall Street Analysts Forecast Growth

ANET has been the topic of a number of research analyst reports. Morgan Stanley upped their target price on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Citigroup increased their target price on Arista Networks from $96.25 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Barclays dropped 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 note on Wednesday, December 4th. Wells Fargo & Company raised their price objective on shares of Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, UBS Group upped their target price on shares of Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.42.

Arista Networks Trading Up 0.4 %

The company’s 50 day moving average price is $105.78 and its two-hundred day moving average price is $95.55. The stock has a market cap of $145.83 billion, a P/E ratio of 55.65, a PEG ratio of 3.21 and a beta of 1.08.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.76 billion. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The company’s revenue was up 20.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.41 earnings per share. On average, sell-side analysts anticipate that Arista Networks, Inc. will post 1.96 earnings per share for the current year.

Hedge Funds Weigh In On Arista Networks

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Fulton Bank N.A. raised its stake in Arista Networks by 310.1% during the fourth quarter. Fulton Bank N.A. now owns 21,569 shares of the technology company’s stock valued at $2,384,000 after purchasing an additional 16,310 shares in the last quarter. Range Financial Group LLC grew its stake in Arista Networks by 1,599.0% in the 4th quarter. Range Financial Group LLC now owns 43,562 shares of the technology company’s stock worth $4,815,000 after acquiring an additional 40,998 shares in the last quarter. Rise Advisors LLC grew its position in shares of Arista Networks by 132.0% during the 4th quarter. Rise Advisors LLC now owns 775 shares of the technology company’s stock worth $86,000 after buying an additional 441 shares in the last quarter. Diversified Trust Co raised its stake in Arista Networks by 440.5% in the fourth quarter. Diversified Trust Co now owns 27,880 shares of the technology company’s stock worth $3,082,000 after buying an additional 22,722 shares in the last quarter. Finally, Horizons Wealth Management lifted its holdings in Arista Networks by 300.0% during the fourth quarter. Horizons Wealth Management now owns 800 shares of the technology company’s stock worth $88,000 after buying an additional 600 shares during the period. 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.