Arista Networks (NYSE:ANET) Stock Price Down 0.5%

Arista Networks, Inc. (NYSE:ANET - Get Free Report)'s share price dropped 0.5% during mid-day trading on Tuesday . The stock traded as low as $261.75 and last traded at $262.48. Approximately 353,201 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 2,444,573 shares. The stock had previously closed at $263.67.

Analyst Ratings Changes

ANET has been the subject of several research analyst reports. Needham & Company LLC reiterated a "buy" rating and set a $320.00 target price on shares of Arista Networks in a research note on Tuesday, February 13th. JPMorgan Chase & Co. lifted their target price on Arista Networks from $297.00 to $315.00 and gave the stock an "overweight" rating in a research report on Thursday, April 11th. Evercore ISI reiterated an "outperform" rating and issued a $300.00 price objective on shares of Arista Networks in a research report on Wednesday, March 27th. JMP Securities restated a "market outperform" rating and set a $325.00 price objective on shares of Arista Networks in a research report on Tuesday, February 13th. Finally, Barclays lifted their price target on shares of Arista Networks from $272.00 to $311.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, Arista Networks currently has a consensus rating of "Moderate Buy" and a consensus target price of $275.59.

Arista Networks Trading Down 2.7 %

The stock has a market capitalization of $80.46 billion, a P/E ratio of 39.05, a PEG ratio of 2.26 and a beta of 1.09. The company has a fifty day simple moving average of $279.07 and a two-hundred day simple moving average of $248.57.

Arista Networks (NYSE:ANET - Get Free Report) last posted its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, topping analysts' consensus estimates of $1.70 by $0.38. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the previous year, the firm posted $1.25 earnings per share. Arista Networks's revenue for the quarter was up 20.8% compared to the same quarter last year. As a group, analysts forecast that Arista Networks, Inc. will post 6.7 earnings per share for the current fiscal year.

Insider Transactions at Arista Networks

In related news, SVP Kenneth Duda sold 20,000 shares of the company's stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $290.05, for a total value of $5,801,000.00. Following the completion of the sale, the senior vice president now owns 3,244 shares in the company, valued at $940,922.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction on Friday, March 1st. The shares were sold at an average price of $286.52, for a total transaction of $573,040.00. Following the transaction, the director now directly owns 60,946 shares of the company's stock, valued at $17,462,247.92. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Kenneth Duda sold 20,000 shares of the company's stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $290.05, for a total transaction of $5,801,000.00. Following the completion of the sale, the senior vice president now owns 3,244 shares of the company's stock, valued at approximately $940,922.20. The disclosure for this sale can be found here. Insiders have sold 332,514 shares of company stock worth $95,369,397 in the last three months. Insiders own 18.99% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Benjamin Edwards Inc. bought a new position in shares of Arista Networks during the 1st quarter valued at about $26,000. Financial Synergies Wealth Advisors Inc. lifted its stake in Arista Networks by 872.7% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company's stock valued at $31,000 after buying an additional 96 shares in the last quarter. Alaska Permanent Fund Corp bought a new position in Arista Networks in the first quarter valued at approximately $37,000. Riverview Trust Co acquired a new position in shares of Arista Networks in the first quarter valued at approximately $40,000. Finally, Redmont Wealth Advisors LLC bought a new stake in shares of Arista Networks during the first quarter worth $42,000. 82.47% of the stock is currently owned by 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.