Arista Networks (NYSE:ANET) Shares Down 2.3% – What’s Next?

Arista Networks, Inc. (NYSE:ANET) shares traded down 2.3% on Monday . The company traded as low as $105.55 and last traded at $105.79. 1,459,826 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 8,859,326 shares. The stock had previously closed at $108.25.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. UBS Group lifted their price target on Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research note on Friday, November 8th. StockNews.com raised Arista Networks from a “hold” rating to a “buy” rating in a research note on Wednesday, December 4th. Evercore ISI lifted their target price on Arista Networks from $100.00 to $106.25 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Rosenblatt Securities lifted their price target on Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a report on Friday, November 8th. Finally, Barclays reduced their target price on Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $98.88.

Arista Networks Stock Up 2.0 %

The company has a market cap of $134.66 billion, a P/E ratio of 50.38, a PEG ratio of 3.24 and a beta of 1.10. The firm has a fifty day moving average price of $100.27 and a 200 day moving average price of $90.41.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the prior year, the firm posted $0.41 earnings per share. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Arista Networks, Inc. will post 1.96 earnings per share 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 the stock in a transaction dated Monday, December 2nd. The stock was 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 of the company’s stock, valued at approximately $17,721,666.90. This represents a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jayshree Ullal sold 3,344 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $96.67, for a total value of $323,264.48. Following the completion of the transaction, the chief executive officer now directly owns 70,724 shares in the company, valued at $6,836,889.08. The trade was a 4.51 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 354,676 shares of company stock valued at $36,943,399. 3.54% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Arista Networks

Large investors have recently modified their holdings of the business. GW Henssler & Associates Ltd. increased its holdings in shares of Arista Networks by 3.6% in the third quarter. GW Henssler & Associates Ltd. now owns 63,244 shares of the technology company’s stock worth $24,274,000 after acquiring an additional 2,219 shares in the last quarter. Deepwater Asset Management LLC bought a new stake in shares of Arista Networks in the second quarter worth about $15,084,000. Sumitomo Life Insurance Co. increased its holdings in shares of Arista Networks by 69.8% in the third quarter. Sumitomo Life Insurance Co. now owns 9,028 shares of the technology company’s stock worth $3,465,000 after acquiring an additional 3,711 shares in the last quarter. Walkner Condon Financial Advisors LLC bought a new stake in shares of Arista Networks in the third quarter worth about $2,318,000. Finally, Greenleaf Trust increased its holdings in shares of Arista Networks by 20.1% in the third quarter. Greenleaf Trust now owns 13,224 shares of the technology company’s stock worth $5,076,000 after acquiring an additional 2,216 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

About Arista Networks

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.