Arista Networks (NYSE:ANET) Trading Down 5.2% – Time to Sell?

Arista Networks, Inc. (NYSE:ANET) shares fell 5.2% on Monday . The stock traded as low as $67.45 and last traded at $67.52. 1,871,627 shares changed hands during trading, a decline of 83% from the average session volume of 11,196,579 shares. The stock had previously closed at $71.20.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ANET. Erste Group Bank cut shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 17th. Piper Sandler lowered their price target on Arista Networks from $108.00 to $76.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Wells Fargo & Company reiterated an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. Needham & Company LLC restated a “buy” rating and set a $145.00 target price on shares of Arista Networks in a report on Wednesday, February 19th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Arista Networks in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Arista Networks presently has a consensus rating of “Moderate Buy” and an average target price of $106.07.

Arista Networks Stock Performance

The stock has a 50-day moving average of $84.23 and a two-hundred day moving average of $99.30. The company has a market cap of $84.04 billion, a P/E ratio of 30.02, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. Research analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insider Activity at Arista Networks

In related news, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 155,784 shares in the company, valued at approximately $17,450,923.68. The trade was a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $115.61, for a total value of $9,248,800.00. Following the transaction, the senior vice president now owns 12,976 shares of the company’s stock, valued at approximately $1,500,155.36. This trade represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 411,031 shares of company stock valued at $39,364,943. 3.54% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Morse Asset Management Inc bought a new stake in Arista Networks in the third quarter worth $123,000. Virtu Financial LLC bought a new position in Arista Networks during the 3rd quarter valued at about $1,752,000. World Investment Advisors LLC purchased a new stake in Arista Networks in the 3rd quarter worth about $401,000. Wilmington Savings Fund Society FSB bought a new position in shares of Arista Networks during the third quarter valued at approximately $2,222,000. Finally, Tidal Investments LLC lifted its stake in shares of Arista Networks by 5.6% during the 3rd quarter. Tidal Investments LLC now owns 37,383 shares of the technology company’s stock worth $14,348,000 after acquiring an additional 1,998 shares during the last quarter. Hedge funds and other 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.