Arista Networks (NYSE:ANET) Trading Down 0.3% – Time to Sell?

Arista Networks, Inc. (NYSE:ANET)’s share price fell 0.3% during trading on Thursday . The stock traded as low as $82.94 and last traded at $84.13. 1,395,194 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 8,579,426 shares. The stock had previously closed at $84.42.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ANET shares. StockNews.com lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Morgan Stanley raised their target price on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. UBS Group raised Arista Networks from a “neutral” rating to a “buy” rating and upped their price target for the company from $112.00 to $115.00 in a report on Wednesday, March 5th. Erste Group Bank lowered Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday. Finally, Rosenblatt Securities reaffirmed a “sell” rating and set a $80.00 target price on shares of Arista Networks in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Arista Networks has an average rating of “Moderate Buy” and an average target price of $114.00.

Arista Networks Stock Down 1.3 %

The company has a market cap of $105.06 billion, a price-to-earnings ratio of 37.51, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08. The company’s fifty day moving average price is $103.81 and its two-hundred day moving average price is $101.77.

Arista Networks (NYSE:ANET) last announced its 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 company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. Research analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Insider Transactions at Arista Networks

In other Arista Networks news, SVP Marc Taxay sold 51,848 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $88.59, for a total transaction of $4,593,214.32. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $84.85, for a total value of $6,788,000.00. Following the completion of the sale, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at approximately $1,101,013.60. The trade was a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 491,001 shares of company stock worth $49,112,111. Corporate insiders own 3.54% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Quest Partners LLC increased its position in Arista Networks by 149.2% during the third quarter. Quest Partners LLC now owns 2,896 shares of the technology company’s stock worth $1,112,000 after acquiring an additional 1,734 shares during the period. Pathstone Holdings LLC increased its holdings in shares of Arista Networks by 6.4% during the third quarter. Pathstone Holdings LLC now owns 25,697 shares of the technology company’s stock worth $9,863,000 after purchasing an additional 1,554 shares during the period. Caprock Group LLC increased its holdings in shares of Arista Networks by 24.8% during the third quarter. Caprock Group LLC now owns 7,429 shares of the technology company’s stock worth $2,851,000 after purchasing an additional 1,475 shares during the period. Meeder Asset Management Inc. boosted its stake in shares of Arista Networks by 52.5% in the third quarter. Meeder Asset Management Inc. now owns 183 shares of the technology company’s stock valued at $70,000 after buying an additional 63 shares during the period. Finally, Fifth Third Wealth Advisors LLC boosted its stake in shares of Arista Networks by 4.4% in the third quarter. Fifth Third Wealth Advisors LLC now owns 5,348 shares of the technology company’s stock valued at $2,053,000 after buying an additional 226 shares during the period. 82.47% of the stock is owned by institutional investors.

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.