Arista Networks (NYSE:ANET) Trading Down 0.6% – Should You Sell?

Shares of Arista Networks, Inc. (NYSE:ANET) fell 0.6% on Thursday . The stock traded as low as $109.16 and last traded at $109.01. 2,448,563 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 8,690,835 shares. The stock had previously closed at $109.64.

Analysts Set New Price Targets

Several brokerages have issued reports on ANET. Piper Sandler reaffirmed a “neutral” rating and issued a $105.25 target price (up previously from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Rosenblatt Securities increased their price objective on Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a report on Friday, November 8th. Evercore ISI raised their price target on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Finally, Wells Fargo & Company raised their price target on Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Arista Networks currently has a consensus rating of “Moderate Buy” and an average price target of $105.83.

Arista Networks Stock Performance

The stock has a market capitalization of $138.08 billion, a PE ratio of 52.68, a PEG ratio of 3.10 and a beta of 1.09. The stock has a 50-day moving average price of $113.91 and a two-hundred day moving average price of $100.65.

Insider Activity at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 71,036 shares of Arista Networks stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $100.06, for a total value of $7,107,506.98. Following the sale, the chief executive officer now owns 70,724 shares of the company’s stock, valued at $7,076,289.82. The trade was a 50.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider John F. Mccool sold 6,340 shares of Arista Networks stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $98.58, for a total value of $625,013.05. Following the completion of the sale, the insider now directly owns 288 shares in the company, valued at approximately $28,391.76. The trade was a 95.65 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 335,832 shares of company stock valued at $37,787,297. 3.54% of the stock is owned by company insiders.

Hedge Funds Weigh In On Arista Networks

Large investors have recently modified their holdings of the stock. MidAtlantic Capital Management Inc. bought a new position in shares of Arista Networks during the 3rd quarter valued at approximately $44,000. HM Payson & Co. raised its position in shares of Arista Networks by 28.2% in the 3rd quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock worth $51,000 after acquiring an additional 29 shares in the last quarter. True Wealth Design LLC raised its position in shares of Arista Networks by 2,133.3% in the 3rd quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock worth $51,000 after acquiring an additional 128 shares in the last quarter. Anchor Investment Management LLC raised its position in shares of Arista Networks by 35.0% in the 3rd quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock worth $52,000 after acquiring an additional 35 shares in the last quarter. Finally, ORG Partners LLC raised its position in shares of Arista Networks by 186.0% in the 3rd quarter. ORG Partners LLC now owns 143 shares of the technology company’s stock worth $55,000 after acquiring an additional 93 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

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.