Arista Networks (NYSE:ANET) Trading Down 0.3% After Insider Selling

Arista Networks, Inc. (NYSE:ANET - Get Free Report)'s share price dropped 0.3% during mid-day trading on Tuesday following insider selling activity. The company traded as low as $87.04 and last traded at $90.08. Approximately 2,797,611 shares were traded during trading, a decline of 69% from the average daily volume of 9,143,224 shares. The stock had previously closed at $90.38.

Specifically, Director Charles H. Giancarlo sold 8,000 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $88.58, for a total value of $708,640.00. Following the completion of the transaction, the director now owns 131,784 shares of the company's stock, valued at $11,673,426.72. This represents a 5.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ANET. JPMorgan Chase & Co. reduced their target price on Arista Networks from $140.00 to $110.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Needham & Company LLC reiterated a "buy" rating and set a $145.00 target price on shares of Arista Networks in a research report on Wednesday, February 19th. The Goldman Sachs Group reissued a "buy" rating on shares of Arista Networks in a research report on Monday, March 3rd. Erste Group Bank downgraded Arista Networks from a "strong-buy" rating to a "hold" rating in a report on Monday, March 17th. Finally, Rosenblatt Securities raised Arista Networks from a "sell" rating to a "neutral" rating and increased their target price for the stock from $55.00 to $85.00 in a report on Tuesday, April 29th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Arista Networks currently has a consensus rating of "Moderate Buy" and an average target price of $108.36.

Arista Networks Trading Down 0.2 %

The firm has a 50-day simple moving average of $79.03 and a two-hundred day simple moving average of $97.62. The company has a market capitalization of $113.30 billion, a price-to-earnings ratio of 40.62, a P/E/G ratio of 3.10 and a beta of 1.38.

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

Institutional Investors Weigh In On Arista Networks

Several hedge funds have recently modified their holdings of ANET. Caitlin John LLC raised its stake in shares of Arista Networks by 174.7% during 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 during the period. Capital Advisors Ltd. LLC raised its position in Arista Networks by 335.1% during 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 during the period. HighMark Wealth Management LLC lifted its holdings in Arista Networks by 179.7% during the first quarter. HighMark Wealth Management LLC now owns 358 shares of the technology company's stock valued at $28,000 after purchasing an additional 230 shares in the last quarter. Cranbrook Wealth Management LLC increased its stake in shares of Arista Networks by 300.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company's stock worth $29,000 after purchasing an additional 198 shares in the last quarter. Finally, Trust Co. of Vermont raised 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 worth $29,000 after purchasing an additional 198 shares during the last quarter. 82.47% of the stock is owned by hedge funds and other 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.

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