Arista Networks (NYSE:ANET) Trading Down 5.5% - Time to Sell?

Arista Networks, Inc. (NYSE:ANET - Get Free Report) dropped 5.5% during trading on Wednesday . The company traded as low as $110.37 and last traded at $110.37. Approximately 4,522,395 shares changed hands during trading, a decline of 47% from the average daily volume of 8,568,733 shares. The stock had previously closed at $116.84.

Analysts Set New Price Targets

ANET has been the subject of a number of recent research reports. StockNews.com downgraded shares of Arista Networks from a "buy" rating to a "hold" rating in a report on Thursday, December 12th. The Goldman Sachs Group raised their target price on shares of Arista Networks from $120.00 to $135.00 and gave the stock a "buy" rating in a research report on Friday, January 17th. UBS Group raised their target price on shares of Arista Networks from $92.25 to $106.25 and gave the stock a "neutral" rating in a research report on Friday, November 8th. Morgan Stanley raised 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, Evercore ISI raised their target price on shares of Arista Networks from $110.00 to $130.00 and gave the stock an "outperform" rating in a research 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's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $107.59.

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 business's 50-day simple moving average is $113.94 and its two-hundred day simple moving average is $101.16.

Insider Transactions at Arista Networks

In other news, SVP Kenneth Duda sold 80,000 shares of the business's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $115.61, for a total transaction of $9,248,800.00. Following the transaction, the senior vice president now directly owns 12,976 shares of the company's stock, valued at approximately $1,500,155.36. The trade was a 86.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $412.65, for a total transaction of $825,300.00. Following the completion of the sale, the director now owns 42,946 shares of the company's stock, valued at approximately $17,721,666.90. This trade represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 335,832 shares of company stock valued at $37,787,297. Corporate insiders own 3.54% of the company's stock.

Institutional Trading of Arista Networks

A number of hedge funds and other institutional investors have recently made changes to their positions in ANET. Creative Planning increased its stake in shares of Arista Networks by 13.1% in the third quarter. Creative Planning now owns 109,174 shares of the technology company's stock worth $41,903,000 after buying an additional 12,612 shares during the last quarter. Cornerstone Wealth Management LLC bought a new stake in shares of Arista Networks in the third quarter worth $207,000. Claro Advisors LLC increased its stake in shares of Arista Networks by 81.5% in the third quarter. Claro Advisors LLC now owns 1,069 shares of the technology company's stock worth $410,000 after buying an additional 480 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Arista Networks by 89.2% in the third quarter. Blue Trust Inc. now owns 2,638 shares of the technology company's stock worth $925,000 after buying an additional 1,244 shares during the last quarter. Finally, Capital Investment Advisors LLC increased its stake in shares of Arista Networks by 25.0% in the third quarter. Capital Investment Advisors LLC now owns 795 shares of the technology company's stock worth $305,000 after buying an additional 159 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.