Arista Networks (NYSE:ANET) Trading Down 6% Following Insider Selling

Arista Networks Inc (NYSE:ANET)’s stock price fell 6% during trading on Friday after an insider sold shares in the company. The company traded as low as $217.00 and last traded at $223.47, 2,113,774 shares were traded during mid-day trading. An increase of 177% from the average session volume of 763,330 shares. The stock had previously closed at $237.62.

Specifically, SVP Marc Taxay sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $192.51, for a total transaction of $962,550.00. Following the completion of the sale, the senior vice president now directly owns 11,365 shares in the company, valued at $2,187,876.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ann Mather sold 329 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $194.00, for a total value of $63,826.00. The disclosure for this sale can be found here. Insiders have sold 50,648 shares of company stock valued at $10,645,433 over the last quarter. 23.83% of the stock is owned by company insiders.

A number of equities analysts have weighed in on the company. Rosenblatt Securities reissued a “hold” rating and set a $215.00 price objective (up previously from $205.00) on shares of Arista Networks in a research note on Friday. Barclays lowered Arista Networks from an “overweight” rating to an “equal weight” rating and set a $220.00 price objective on the stock. in a research note on Thursday, January 30th. Deutsche Bank lowered their price objective on Arista Networks from $230.00 to $180.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. Stifel Nicolaus lowered Arista Networks from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $287.00 to $193.00 in a research note on Friday, November 1st. Finally, Credit Suisse Group lowered Arista Networks from an “outperform” rating to a “neutral” rating and set a $144.00 price objective on the stock. in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and ten have given a buy rating to the company. Arista Networks has a consensus rating of “Hold” and an average price target of $230.08.

The company has a 50 day moving average of $219.42 and a 200-day moving average of $221.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.47 and a current ratio of 5.91. The stock has a market cap of $17.76 billion, a price-to-earnings ratio of 23.55, a price-to-earnings-growth ratio of 1.96 and a beta of 1.52.

Arista Networks (NYSE:ANET) last posted its earnings results on Thursday, February 13th. The technology company reported $2.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.83 by $0.46. Arista Networks had a return on equity of 28.94% and a net margin of 32.68%. The firm had revenue of $552.55 million for the quarter, compared to analyst estimates of $550.63 million. During the same quarter in the prior year, the company earned $2.25 EPS. On average, research analysts anticipate that Arista Networks Inc will post 8.56 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Strategic Blueprint LLC purchased a new stake in Arista Networks during the 3rd quarter worth about $35,000. Meeder Asset Management Inc. increased its holdings in Arista Networks by 1,281.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 152 shares of the technology company’s stock worth $36,000 after purchasing an additional 141 shares during the period. Laurel Wealth Advisors LLC increased its holdings in Arista Networks by 38.5% during the 4th quarter. Laurel Wealth Advisors LLC now owns 180 shares of the technology company’s stock worth $37,000 after purchasing an additional 50 shares during the period. Quadrant Capital Group LLC increased its holdings in Arista Networks by 1,615.4% during the 4th quarter. Quadrant Capital Group LLC now owns 223 shares of the technology company’s stock worth $44,000 after purchasing an additional 210 shares during the period. Finally, Neo Ivy Capital Management purchased a new stake in Arista Networks during the 3rd quarter worth about $67,000. 59.60% of the stock is currently owned by hedge funds and other institutional investors.

About Arista Networks (NYSE:ANET)

Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms, including universal leaf, spline, and universal spine products.

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