Arista Networks (NYSE:ANET) Stock Price Down 2.1% Following Insider Selling

Shares of Arista Networks, Inc. (NYSE:ANET) were down 2.1% on Thursday after an insider sold shares in the company. The stock traded as low as $91.75 and last traded at $94.38. Approximately 3,385,007 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 10,452,272 shares. The stock had previously closed at $96.38.

Specifically, insider John F. Mccool sold 17,433 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $93.14, for a total transaction of $1,623,709.62. Following the completion of the sale, the insider now owns 17,433 shares of the company’s stock, valued at approximately $1,623,709.62. The trade was a 50.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jayshree Ullal sold 138,351 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the sale, the chief executive officer now owns 92,641 shares in the company, valued at approximately $8,697,137.08. The trade was a 59.89 % decrease in their position. The disclosure for this sale can be found here.

Analyst Ratings Changes

ANET has been the subject of a number of analyst reports. UBS Group increased their price objective on shares of Arista Networks from $106.00 to $112.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Citigroup increased their price target on Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Morgan Stanley raised 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. The Goldman Sachs Group upped their price objective on Arista Networks from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Finally, Evercore ISI lifted their target price on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $113.79.

Arista Networks Stock Down 3.1 %

The company has a market capitalization of $117.84 billion, a PE ratio of 42.11, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. The stock’s 50 day moving average is $112.54 and its two-hundred day moving average is $102.09.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. On average, sell-side analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Arista Networks

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Caitlin John LLC lifted its holdings in shares of Arista Networks by 174.7% during the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after purchasing an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC grew its stake in shares of Arista Networks by 335.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock worth $27,000 after acquiring an additional 191 shares during the last quarter. Cranbrook Wealth Management LLC grew its stake in shares of Arista Networks by 300.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock worth $29,000 after acquiring an additional 198 shares during the last quarter. Trust Co. of Vermont increased its holdings in shares of Arista Networks by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after acquiring an additional 198 shares in the last quarter. Finally, New Millennium Group LLC raised its position in shares of Arista Networks by 300.0% in the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after purchasing an additional 195 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.