Arista Networks, Inc. (NYSE:ANET - Get Free Report) shares were down 2.6% during mid-day trading on Friday . The company traded as low as $106.84 and last traded at $106.88. Approximately 2,758,516 shares were traded during trading, a decline of 68% from the average daily volume of 8,713,990 shares. The stock had previously closed at $109.75.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on ANET shares. Rosenblatt Securities lifted their target price on shares of Arista Networks from $66.25 to $80.00 and gave the stock a "sell" rating in a research report on Friday, November 8th. Wells Fargo & Company lifted their target price on shares of Arista Networks from $97.50 to $115.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. Barclays cut their target price on shares of 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 lifted their target price on shares of Arista Networks from $102.50 to $118.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. Finally, The Goldman Sachs Group lifted their price target 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. One investment 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 currently has an average rating of "Moderate Buy" and an average price target of $107.59.
Read Our Latest Stock Report on Arista Networks
Arista Networks Price Performance
The stock has a market capitalization of $134.35 billion, a price-to-earnings ratio of 51.27, a PEG ratio of 3.10 and a beta of 1.09. The firm's fifty day moving average is $113.94 and its 200-day moving average is $101.16.
Insider Activity at Arista Networks
In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the business's stock in a transaction on Friday, December 6th. The shares were sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the completion of the sale, the senior vice president now owns 12,976 shares in the company, valued at $1,405,171.04. The trade was a 86.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jayshree Ullal sold 71,036 shares of the business's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $100.06, for a total transaction of $7,107,506.98. Following the sale, the chief executive officer now owns 70,724 shares of the company's stock, valued at approximately $7,076,289.82. The trade was a 50.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 335,832 shares of company stock valued at $37,787,297 over the last ninety days. Corporate insiders own 3.54% of the company's stock.
Institutional Trading of Arista Networks
Several institutional investors have recently added to or reduced their stakes in ANET. Stock Yards Bank & Trust Co. bought a new position in Arista Networks in the 4th quarter valued at about $242,000. Silver Oak Securities Incorporated grew its position in 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 buying an additional 14,843 shares in the last quarter. Chevy Chase Trust Holdings LLC grew its position in Arista Networks by 292.7% in the 4th quarter. Chevy Chase Trust Holdings LLC now owns 602,541 shares of the technology company's stock valued at $66,599,000 after buying an additional 449,088 shares in the last quarter. CENTRAL TRUST Co grew its position in Arista Networks by 475.5% in the 4th quarter. CENTRAL TRUST Co now owns 4,184 shares of the technology company's stock valued at $462,000 after buying an additional 3,457 shares in the last quarter. Finally, Triasima Portfolio Management inc. grew its position in Arista Networks by 371.3% in the 4th quarter. Triasima Portfolio Management inc. now owns 78,487 shares of the technology company's stock valued at $8,675,000 after buying an additional 61,833 shares in the last quarter. Institutional investors own 82.47% of the company's stock.
About Arista Networks
(
Get Free Report)
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.
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