Arista Networks (NYSE:ANET) Stock Price Down 0.6% – Time to Sell?

Arista Networks, Inc. (NYSE:ANET)’s stock price fell 0.6% during trading on Thursday . The stock traded as low as $109.16 and last traded at $109.01. 2,448,563 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 8,690,835 shares. The stock had previously closed at $109.64.

Analyst Ratings Changes

A number of research analysts have commented on ANET shares. UBS Group increased their price objective on shares of Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a research note on Friday, November 8th. The Goldman Sachs Group upped their price objective on Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Piper Sandler reiterated a “neutral” rating and issued a $105.25 target price (up previously from $86.25) on shares of Arista Networks in a research report on Friday, November 8th. Evercore ISI upped their price target on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Finally, Barclays dropped their price target on Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Arista Networks has an average rating of “Moderate Buy” and an average target price of $107.59.

Arista Networks Stock Down 2.8 %

The firm’s 50-day moving average price is $113.94 and its two-hundred day moving average price is $100.90. The firm has a market capitalization of $134.35 billion, a PE ratio of 51.27, a P/E/G ratio of 3.10 and a beta of 1.09.

Insider Activity

In other news, insider John F. Mccool sold 6,340 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $98.58, for a total value of $625,013.05. Following the transaction, the insider now directly owns 288 shares of the company’s stock, valued at approximately $28,391.76. This represents a 95.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $108.29, for a total value of $8,663,200.00. Following the completion of the sale, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at approximately $1,405,171.04. The trade was a 86.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 335,832 shares of company stock worth $37,787,297. 3.54% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Arista Networks

A number of large investors have recently added to or reduced their stakes in ANET. Vanguard Group Inc. lifted its stake in shares of Arista Networks by 304.2% in the fourth quarter. Vanguard Group Inc. now owns 96,084,951 shares of the technology company’s stock valued at $10,620,270,000 after buying an additional 72,311,318 shares during the period. FMR LLC lifted its position in shares of Arista Networks by 330.9% in the 4th quarter. FMR LLC now owns 57,648,129 shares of the technology company’s stock worth $6,371,848,000 after acquiring an additional 44,269,572 shares during the period. Geode Capital Management LLC lifted its position in shares of Arista Networks by 311.6% in the 4th quarter. Geode Capital Management LLC now owns 24,165,355 shares of the technology company’s stock worth $2,665,829,000 after acquiring an additional 18,293,874 shares during the period. Alliancebernstein L.P. lifted its position in Arista Networks by 218.5% in the fourth quarter. Alliancebernstein L.P. now owns 21,070,016 shares of the technology company’s stock worth $2,328,869,000 after purchasing an additional 14,454,822 shares during the period. Finally, Norges Bank bought a new position in Arista Networks in the fourth quarter worth $1,397,833,000. Institutional investors own 82.47% of the company’s stock.

About Arista Networks

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.