Arista Networks (NYSE:ANET) Downgraded by StockNews.com to “Hold”

Arista Networks (NYSE:ANET) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Thursday.

Other equities analysts also recently issued research reports about the stock. Wells Fargo & Company boosted their target price on shares of Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. UBS Group raised their price target on Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a report on Friday, November 8th. Evercore ISI upped their price objective on Arista Networks from $100.00 to $106.25 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Citigroup upped their price target on shares of Arista Networks from $96.25 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Finally, Rosenblatt Securities boosted their target price on shares of Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Arista Networks presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.88.

Arista Networks Price Performance

Shares of ANET stock opened at $107.25 on Thursday. Arista Networks has a one year low of $56.34 and a one year high of $110.74. The company’s fifty day moving average price is $100.46 and its 200-day moving average price is $90.61. The company has a market capitalization of $135.11 billion, a price-to-earnings ratio of 51.56, a PEG ratio of 3.24 and a beta of 1.10.

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

Insider Buying and Selling at Arista Networks

In related news, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $98.67, for a total transaction of $7,893,800.00. Following the transaction, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at $1,280,374.36. This trade represents a 86.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Kelly Bodnar Battles sold 1,488 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $89.19, for a total value of $132,707.28. Following the sale, the director now directly owns 10,260 shares in the company, valued at $915,038.10. This trade represents a 12.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 354,964 shares of company stock valued at $36,974,705 in the last three months. Company insiders own 3.54% of the company’s stock.

Institutional Trading of Arista Networks

A number of institutional investors have recently modified their holdings of ANET. Beacon Capital Management LLC grew its stake in Arista Networks by 500.0% during the 2nd quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock worth $27,000 after buying an additional 65 shares during the last quarter. LGT Financial Advisors LLC purchased a new stake in Arista Networks in the second quarter valued at about $27,000. Byrne Asset Management LLC acquired a new stake in Arista Networks in the second quarter worth about $33,000. Anchor Investment Management LLC purchased a new stake in shares of Arista Networks during the second quarter worth about $35,000. Finally, MidAtlantic Capital Management Inc. acquired a new position in shares of Arista Networks during the third quarter valued at about $44,000. 82.47% of the stock is currently owned by institutional investors.

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.