Arista Networks (NYSE:ANET) Trading Down 5.3% – Time to Sell?

Arista Networks, Inc. (NYSE:ANET) shares dropped 5.3% during mid-day trading on Monday . The stock traded as low as $91.82 and last traded at $93.12. Approximately 8,997,345 shares were traded during trading, a decline of 10% from the average daily volume of 9,980,476 shares. The stock had previously closed at $98.30.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ANET shares. The Goldman Sachs Group increased their price objective on Arista Networks from $135.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Piper Sandler reiterated a “neutral” rating and set a $108.00 price target (up previously from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. Barclays boosted their price objective on shares of Arista Networks from $125.00 to $126.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. UBS Group lifted their target price on shares of Arista Networks from $106.00 to $112.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Finally, Citigroup boosted their target price on shares of Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $113.79.

Arista Networks Stock Down 5.6 %

The company’s fifty day moving average price is $113.66 and its two-hundred day moving average price is $102.01. The company has a market cap of $117.05 billion, a price-to-earnings ratio of 41.81, a PEG ratio of 3.27 and a beta of 1.09.

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, topping analysts’ consensus estimates of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. On average, equities research analysts predict that Arista Networks, Inc. will post 2.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Kelly Bodnar Battles sold 1,488 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $107.13, for a total value of $159,409.44. Following the completion of the sale, the director now owns 8,128 shares of the company’s stock, valued at approximately $870,752.64. This represents a 15.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the transaction, the senior vice president now owns 12,976 shares in the company, valued at approximately $1,405,171.04. 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 sold 260,056 shares of company stock worth $30,225,623. 3.54% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Zions Bancorporation N.A. lifted its stake in Arista Networks by 6.9% in the 3rd quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock valued at $160,000 after purchasing an additional 27 shares during the last quarter. Intellectus Partners LLC lifted its position in shares of Arista Networks by 1.4% in the third quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock valued at $740,000 after buying an additional 27 shares during the last quarter. Altman Advisors Inc. boosted its stake in shares of Arista Networks by 0.5% during the 3rd quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock worth $2,250,000 after acquiring an additional 28 shares during the period. HM Payson & Co. increased its holdings in shares of Arista Networks by 28.2% during 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 during the last quarter. Finally, Beacon Financial Advisory LLC raised its stake in Arista Networks by 4.9% in the 3rd quarter. Beacon Financial Advisory LLC now owns 640 shares of the technology company’s stock valued at $246,000 after acquiring an additional 30 shares during the period. 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.