Arista Networks, Inc. (NYSE:ANET) Sees Large Decrease in Short Interest

Arista Networks, Inc. (NYSE:ANET) saw a significant decline in short interest in the month of January. As of January 31st, there was short interest totalling 9,880,000 shares, a decline of 22.8% from the January 15th total of 12,790,000 shares. Based on an average daily trading volume, of 8,460,000 shares, the short-interest ratio is presently 1.2 days.

Analyst Upgrades and Downgrades

ANET has been the subject of a number of analyst reports. UBS Group increased their target price on Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Barclays cut their price objective on Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. Morgan Stanley boosted their price target on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Evercore ISI increased their price objective on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Finally, StockNews.com cut shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.59.

Insiders Place Their Bets

In other news, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $115.61, for a total value of $9,248,800.00. Following the transaction, the senior vice president now owns 12,976 shares of the company’s stock, valued at approximately $1,500,155.36. The trade was a 86.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John F. Mccool sold 6,340 shares of the company’s 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 sale, the insider now owns 288 shares of the company’s stock, valued at $28,391.76. This trade represents a 95.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 335,832 shares of company stock valued at $37,787,297 over the last quarter. Company insiders own 3.54% of the company’s stock.

Institutional Trading of Arista Networks

Hedge funds have recently added to or reduced their stakes in the business. Meiji Yasuda Life Insurance Co grew its holdings in Arista Networks by 312.3% in the fourth quarter. Meiji Yasuda Life Insurance Co now owns 28,071 shares of the technology company’s stock valued at $3,103,000 after purchasing an additional 21,262 shares during the period. West Paces Advisors Inc. grew its holdings in shares of Arista Networks by 214.5% during the 4th quarter. West Paces Advisors Inc. now owns 368 shares of the technology company’s stock worth $41,000 after purchasing an additional 251 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in Arista Networks during the fourth quarter valued at approximately $14,310,000. Keel Point LLC increased its position in shares of Arista Networks by 310.7% in the fourth quarter. Keel Point LLC now owns 3,861 shares of the technology company’s stock worth $427,000 after acquiring an additional 2,921 shares in the last quarter. Finally, Davidson Kahn Capital Management LLC purchased a new stake in Arista Networks during the 4th quarter worth $986,000. 82.47% of the stock is owned by institutional investors and hedge funds.

Arista Networks Stock Down 2.8 %

ANET stock opened at $106.64 on Monday. The stock has a market capitalization of $134.35 billion, a price-to-earnings ratio of 51.27, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. Arista Networks has a 52-week low of $60.08 and a 52-week high of $133.57. The stock’s fifty day simple moving average is $113.94 and its 200-day simple moving average is $101.06.

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.