Arista Networks (NYSE:ANET) Stock Price Down 0.4% – What’s Next?

Arista Networks, Inc. (NYSE:ANET)’s stock price traded down 0.4% on Thursday . The company traded as low as $113.66 and last traded at $114.24. 627,573 shares were traded during trading, a decline of 93% from the average session volume of 8,741,158 shares. The stock had previously closed at $114.65.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ANET shares. The Goldman Sachs Group increased their price target on Arista Networks from $97.50 to $107.50 and gave the company a “buy” rating in a research report on Tuesday, September 24th. UBS Group lifted 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. StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Barclays lowered their price objective on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. Finally, Citigroup raised their target price on Arista Networks from $96.25 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Arista Networks presently has an average rating of “Moderate Buy” and a consensus price target of $100.70.

Arista Networks Trading Down 1.6 %

The firm has a market cap of $142.39 billion, a P/E ratio of 54.34, a P/E/G ratio of 3.21 and a beta of 1.10. The business’s fifty day moving average price is $103.47 and its two-hundred day moving average price is $93.73.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.08. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the prior year, the company posted $0.41 EPS. The firm’s revenue was up 20.0% on a year-over-year basis. Research analysts predict that Arista Networks, Inc. will post 1.96 EPS for the current fiscal year.

Insider Transactions at Arista Networks

In other news, insider John F. Mccool sold 288 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $108.70, for a total value of $31,305.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $98.67, for a total value of $7,893,800.00. Following the completion of the transaction, the senior vice president now owns 12,976 shares in the company, valued at $1,280,374.36. The trade was a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 353,476 shares of company stock worth $36,841,998. 3.54% of the stock is owned by insiders.

Hedge Funds Weigh In On Arista Networks

Institutional investors and hedge funds have recently bought and sold shares of the stock. Financial Advocates Investment Management bought a new position in Arista Networks during the second quarter valued at about $265,000. Hantz Financial Services Inc. acquired a new stake in Arista Networks during the second quarter worth $2,753,000. Pine Valley Investments Ltd Liability Co boosted its stake in Arista Networks by 2.4% during the second quarter. Pine Valley Investments Ltd Liability Co now owns 1,843 shares of the technology company’s stock worth $646,000 after buying an additional 44 shares in the last quarter. Americana Partners LLC boosted its stake in Arista Networks by 10.1% during the second quarter. Americana Partners LLC now owns 2,176 shares of the technology company’s stock worth $763,000 after buying an additional 200 shares in the last quarter. Finally, Rothschild Investment LLC bought a new stake in Arista Networks in the 2nd quarter valued at $206,000. 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.