Arista Networks (NYSE:ANET) Shares Down 1.5% – Time to Sell?

Arista Networks, Inc. (NYSE:ANET)’s stock price was down 1.5% on Tuesday . The stock traded as low as $83.23 and last traded at $83.85. Approximately 2,552,537 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 8,655,187 shares. The stock had previously closed at $85.09.

Analyst Ratings Changes

Several research firms have commented on ANET. Wells Fargo & Company reiterated an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. UBS Group upgraded shares of Arista Networks from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $112.00 to $115.00 in a research note on Wednesday, March 5th. Barclays restated an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. Rosenblatt Securities reiterated a “sell” rating and issued a $80.00 price objective on shares of Arista Networks in a report on Tuesday, February 18th. Finally, Piper Sandler restated a “neutral” rating and set a $108.00 target price (up previously from $106.00) on shares of Arista Networks in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $114.00.

Arista Networks Stock Performance

The stock has a market capitalization of $106.02 billion, a PE ratio of 37.90, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08. The business’s 50-day moving average is $105.07 and its two-hundred day moving average is $101.92.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. Equities analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insider Activity

In other news, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $111.51, for a total transaction of $892,080.00. Following the completion of the transaction, the director now owns 163,784 shares of the company’s stock, valued at $18,263,553.84. The trade was a 4.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Marc Taxay sold 51,848 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $88.59, for a total transaction of $4,593,214.32. The disclosure for this sale can be found here. Insiders sold 491,001 shares of company stock worth $49,112,111 in the last 90 days. 3.54% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ANET. Wealth Enhancement Advisory Services LLC increased its position in Arista Networks by 535.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 520,832 shares of the technology company’s stock worth $57,568,000 after buying an additional 438,899 shares in the last quarter. NorthCrest Asset Manangement LLC raised its stake in Arista Networks by 346.5% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 9,538 shares of the technology company’s stock valued at $1,054,000 after purchasing an additional 7,402 shares during the last quarter. Centaurus Financial Inc. lifted its holdings in Arista Networks by 415.3% in the 4th quarter. Centaurus Financial Inc. now owns 11,775 shares of the technology company’s stock valued at $1,301,000 after purchasing an additional 9,490 shares in the last quarter. Wealthedge Investment Advisors LLC acquired a new stake in shares of Arista Networks during the 4th quarter worth about $1,376,000. Finally, Lighthouse Financial LLC acquired a new position in shares of Arista Networks in the fourth quarter valued at approximately $480,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

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.