Short Interest in Arista Networks, Inc. (NYSE:ANET) Grows By 9.3%

Arista Networks, Inc. (NYSE:ANETGet Free Report) saw a significant growth in short interest in the month of January. As of January 15th, there was short interest totalling 3,640,000 shares, a growth of 9.3% from the December 31st total of 3,330,000 shares. Based on an average daily trading volume, of 1,980,000 shares, the days-to-cover ratio is presently 1.8 days.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ANET shares. William Blair reissued an “outperform” rating on shares of Arista Networks in a research note on Tuesday, October 31st. Melius raised shares of Arista Networks from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. The Goldman Sachs Group upped their price objective on shares of Arista Networks from $223.00 to $248.00 and gave the company a “buy” rating in a research note on Friday, November 10th. StockNews.com assumed coverage on shares of Arista Networks in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Finally, Citigroup increased their price target on shares of Arista Networks from $220.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, December 14th. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $230.00.

Get Our Latest Stock Analysis on Arista Networks

Insiders Place Their Bets

In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $206.27, for a total transaction of $4,125,400.00. Following the transaction, the senior vice president now directly owns 3,244 shares in the company, valued at $669,139.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $206.27, for a total value of $4,125,400.00. Following the sale, the senior vice president now owns 3,244 shares of the company’s stock, valued at $669,139.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jayshree Ullal sold 21,000 shares of the company’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $222.00, for a total transaction of $4,662,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,719,000 shares in the company, valued at approximately $381,618,000. The disclosure for this sale can be found here. Over the last three months, insiders have sold 207,398 shares of company stock worth $47,874,300. 18.99% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. RFP Financial Group LLC lifted its position in shares of Arista Networks by 169.2% in the 2nd quarter. RFP Financial Group LLC now owns 175 shares of the technology company’s stock worth $28,000 after buying an additional 110 shares during the last quarter. Larson Financial Group LLC bought a new stake in Arista Networks in the 3rd quarter valued at about $28,000. First Command Advisory Services Inc. bought a new stake in shares of Arista Networks during the 3rd quarter worth about $29,000. Hollencrest Capital Management bought a new stake in shares of Arista Networks during the 1st quarter worth about $30,000. Finally, BluePath Capital Management LLC bought a new stake in shares of Arista Networks during the 3rd quarter worth about $33,000. 67.13% of the stock is currently owned by institutional investors.

Arista Networks Price Performance

Shares of ANET stock opened at $258.70 on Thursday. The firm has a fifty day moving average of $238.59 and a two-hundred day moving average of $206.00. Arista Networks has a 1-year low of $123.43 and a 1-year high of $272.90. The firm has a market cap of $80.48 billion, a P/E ratio of 43.12, a P/E/G ratio of 2.14 and a beta of 1.09.

Arista Networks (NYSE:ANETGet Free Report) last posted its quarterly earnings results on Monday, October 30th. The technology company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.22. Arista Networks had a net margin of 33.97% and a return on equity of 31.16%. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. On average, sell-side analysts expect that Arista Networks will post 5.83 EPS for the current year.

Arista Networks Company Profile

(Get Free Report)

Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms.

Read More

Receive News & Ratings for Arista Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arista Networks and related companies with MarketBeat.com's FREE daily email newsletter.