Arista Networks (NYSE:ANET) Shares Down 1.7% on Insider Selling

Arista Networks, Inc. (NYSE:ANET - Get Free Report) was down 1.7% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $115.67 and last traded at $118.23. Approximately 1,832,974 shares were traded during trading, a decline of 79% from the average daily volume of 8,593,952 shares. The stock had previously closed at $120.23.

Specifically, SVP Kenneth Duda sold 80,000 shares of the company's stock in a transaction dated 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 completion of the sale, the senior vice president now owns 12,976 shares of the company's stock, valued at $1,500,155.36. This represents a 86.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $112.02, for a total transaction of $896,160.00. Following the sale, the director now directly owns 155,784 shares of the company's stock, valued at approximately $17,450,923.68. The trade was a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ANET. The Goldman Sachs Group raised their price objective on shares of Arista Networks from $120.00 to $135.00 and gave the stock a "buy" rating in a report on Friday, January 17th. Wells Fargo & Company boosted their price objective on Arista Networks from $97.50 to $115.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Morgan Stanley lifted their target price on Arista Networks from $102.50 to $118.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. Piper Sandler restated a "neutral" rating and set a $105.25 price objective (up from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. Finally, Barclays reduced their price target on shares of Arista Networks from $495.00 to $125.00 and set an "overweight" rating on the stock in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Arista Networks currently has an average rating of "Moderate Buy" and a consensus price target of $107.59.

Arista Networks Trading Down 2.8 %

The business's 50-day simple moving average is $113.94 and its 200 day simple moving average is $100.90. The company has a market capitalization of $134.35 billion, a P/E ratio of 51.27, a P/E/G ratio of 3.10 and a beta of 1.09.

Institutional Investors Weigh In On Arista Networks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Caitlin John LLC raised its stake in shares of Arista Networks by 174.7% in the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company's stock worth $26,000 after buying an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC raised its position in Arista Networks by 335.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock worth $27,000 after acquiring an additional 191 shares in the last quarter. Cranbrook Wealth Management LLC lifted its holdings in Arista Networks by 300.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company's stock valued at $29,000 after acquiring an additional 198 shares during the last quarter. Trust Co. of Vermont boosted its position in shares of Arista Networks by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company's stock valued at $29,000 after purchasing an additional 198 shares in the last quarter. Finally, New Millennium Group LLC grew its stake in shares of Arista Networks by 300.0% in the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock worth $29,000 after purchasing an additional 195 shares during the last quarter. Institutional investors own 82.47% of the company's stock.

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.