Arista Networks (NYSE:ANET) Trading Down 0.7%

Arista Networks, Inc. (NYSE:ANET) shares dropped 0.7% on Tuesday . The stock traded as low as $378.46 and last traded at $381.27. Approximately 273,434 shares were traded during trading, a decline of 88% from the average daily volume of 2,277,824 shares. The stock had previously closed at $383.82.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ANET shares. Erste Group Bank reissued a “buy” rating on shares of Arista Networks in a research report on Friday, June 14th. Evercore ISI boosted their price target on shares of Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a research report on Tuesday. Barclays increased their price objective on shares of Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. UBS Group lifted their target price on Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Finally, The Goldman Sachs Group increased their price target on Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and a consensus target price of $364.81.

Arista Networks Trading Up 0.2 %

The stock’s 50-day simple moving average is $346.52 and its 200-day simple moving average is $321.38. The stock has a market cap of $120.53 billion, a price-to-earnings ratio of 53.08, a price-to-earnings-growth ratio of 3.04 and a beta of 1.07.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.38. The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.66 billion. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.41 earnings per share. On average, equities research analysts forecast that Arista Networks, Inc. will post 7.38 earnings per share for the current year.

Insider Activity at Arista Networks

In other news, Director Kelly Bodnar Battles sold 372 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $356.74, for a total transaction of $132,707.28. Following the completion of the sale, the director now owns 2,565 shares of the company’s stock, valued at approximately $915,038.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $370.70, for a total value of $7,414,000.00. Following the transaction, the senior vice president now owns 3,244 shares in the company, valued at $1,202,550.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kelly Bodnar Battles sold 372 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $356.74, for a total value of $132,707.28. Following the transaction, the director now directly owns 2,565 shares of the company’s stock, valued at approximately $915,038.10. The disclosure for this sale can be found here. Insiders sold a total of 54,157 shares of company stock valued at $19,291,193 over the last quarter. 3.54% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. FCG Investment Co raised its holdings in Arista Networks by 2.3% in the 2nd quarter. FCG Investment Co now owns 1,271 shares of the technology company’s stock valued at $445,000 after buying an additional 29 shares during the last quarter. Old Port Advisors raised its stake in shares of Arista Networks by 3.5% during the first quarter. Old Port Advisors now owns 955 shares of the technology company’s stock valued at $277,000 after acquiring an additional 32 shares during the last quarter. Fortitude Family Office LLC lifted its holdings in shares of Arista Networks by 33.3% during the second quarter. Fortitude Family Office LLC now owns 132 shares of the technology company’s stock worth $46,000 after purchasing an additional 33 shares during the period. Resonant Capital Advisors LLC grew its stake in shares of Arista Networks by 4.1% in the second quarter. Resonant Capital Advisors LLC now owns 870 shares of the technology company’s stock worth $305,000 after purchasing an additional 34 shares during the last quarter. Finally, Modera Wealth Management LLC increased its holdings in Arista Networks by 2.1% in the second quarter. Modera Wealth Management LLC now owns 1,782 shares of the technology company’s stock valued at $625,000 after purchasing an additional 37 shares during the period. 82.47% of the stock is currently 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.