Arista Networks (NYSE:ANET) Stock Price Down 2.1% – Here’s What Happened

Arista Networks, Inc. (NYSE:ANET) was down 2.1% during mid-day trading on Wednesday . The company traded as low as $163.93 and last traded at $164.5080. Approximately 6,080,361 shares were traded during mid-day trading, a decline of 30% from the average daily volume of 8,722,695 shares. The stock had previously closed at $168.01.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on ANET shares. Wolfe Research reissued an “outperform” rating and issued a $175.00 target price on shares of Arista Networks in a research report on Wednesday, June 10th. Bank of America upped their price objective on Arista Networks from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. JPMorgan Chase & Co. upped their price objective on Arista Networks from $190.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. Morgan Stanley reaffirmed an “overweight” rating and set a $190.00 price objective (up from $180.00) on shares of Arista Networks in a research report on Friday, June 12th. Finally, Truist Financial set a $175.00 price objective on Arista Networks in a research report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $186.47.

Arista Networks Stock Down 2.1%

The stock has a market cap of $207.15 billion, a PE ratio of 56.34, a price-to-earnings-growth ratio of 2.61 and a beta of 1.61. The firm has a fifty day moving average of $156.12 and a 200 day moving average of $140.71.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, May 5th. The technology company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.81 by $0.06. The firm had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.62 billion. Arista Networks had a return on equity of 30.10% and a net margin of 38.32%.Arista Networks’s revenue for the quarter was up 35.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.65 earnings per share. Arista Networks has set its Q2 2026 guidance at 0.880-0.880 EPS. On average, equities research analysts forecast that Arista Networks, Inc. will post 3.27 EPS for the current fiscal year.

Insider Activity at Arista Networks

In related news, insider Kenneth Duda sold 32,000 shares of the stock in a transaction on Friday, April 17th. The stock was sold at an average price of $163.31, for a total value of $5,225,920.00. Following the transaction, the insider owned 12,976 shares of the company’s stock, valued at $2,119,110.56. This represents a 71.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Andreas Bechtolsheim sold 240,000 shares of the stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $163.06, for a total value of $39,134,400.00. Following the completion of the transaction, the insider directly owned 331,848 shares in the company, valued at $54,111,134.88. This trade represents a 41.97% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 2,343,747 shares of company stock valued at $380,853,419 over the last quarter. 2.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Arista Networks

Hedge funds have recently made changes to their positions in the company. Board of the Pension Protection Fund purchased a new position in shares of Arista Networks during the fourth quarter worth about $26,000. Main Street Group LTD purchased a new position in shares of Arista Networks during the first quarter worth about $26,000. Sankala Group LLC purchased a new position in shares of Arista Networks during the fourth quarter worth about $27,000. Prosperity Bancshares Inc purchased a new position in shares of Arista Networks during the fourth quarter worth about $28,000. Finally, Knuff & Co LLC purchased a new position in shares of Arista Networks during the third quarter worth about $29,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

About Arista Networks

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.