Arista Networks (NYSE:ANET) Trading Down 5.3% - What's Next?

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. StockNews.com downgraded shares of Arista Networks from a "buy" rating to a "hold" rating in a report on Thursday, December 12th. Rosenblatt Securities reiterated a "sell" rating and issued a $80.00 price target on shares of Arista Networks in a research note on Tuesday, February 18th. UBS Group upped their price objective on Arista Networks from $106.00 to $112.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Morgan Stanley lifted their price target on shares of Arista Networks from $102.50 to $118.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 17th. Finally, 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. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Arista Networks has an average rating of "Moderate Buy" and a consensus price target of $113.79.

Arista Networks Stock Performance

The stock has a market cap of $118.39 billion, a PE ratio of 42.28, a PEG ratio of 3.10 and a beta of 1.09. The business has a 50-day moving average of $112.54 and a 200 day moving average of $102.09.

Arista Networks (NYSE:ANET - Get Free Report) last released its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The business had revenue of $1.93 billion for the quarter, compared to analysts' expectations of $1.90 billion. Equities analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Insider Activity

In other news, insider John F. Mccool sold 288 shares of the business's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $108.70, for a total transaction of $31,305.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $412.65, for a total transaction of $825,300.00. Following the completion of the transaction, the director now owns 42,946 shares in the company, valued at $17,721,666.90. The trade was a 4.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 416,008 shares of company stock valued at $44,854,958 in the last ninety days. Company insiders own 3.54% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Stock Yards Bank & Trust Co. acquired a new position in Arista Networks during the 4th quarter worth approximately $242,000. GHE LLC grew its stake in Arista Networks by 319.0% during the 4th quarter. GHE LLC now owns 28,368 shares of the technology company's stock valued at $3,136,000 after purchasing an additional 21,597 shares in the last quarter. Colonial River Investments LLC increased its stake in shares of Arista Networks by 327.6% in the fourth quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company's stock worth $1,077,000 after buying an additional 7,466 shares during the last quarter. Silver Oak Securities Incorporated raised its stake in shares of Arista Networks by 395.8% in the 4th quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company's stock valued at $2,072,000 after purchasing an additional 14,843 shares in the last quarter. Finally, Proactive Wealth Strategies LLC lifted its holdings in Arista Networks by 387.6% during the 4th quarter. Proactive Wealth Strategies LLC now owns 6,120 shares of the technology company's stock worth $676,000 after buying an additional 4,865 shares during the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

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.