Arista Networks (NYSE:ANET) Stock Price Down 3.6% – Here’s Why

by · The Cerbat Gem

Arista Networks, Inc. (NYSE:ANET – Get Free Report)’s stock price was down 3.6% on Thursday . The stock traded as low as $129.17 and last traded at $130.1270. Approximately 10,252,009 shares traded hands during trading, an increase of 3% from the average daily volume of 9,997,037 shares. The stock had previously closed at $134.98.

Analyst Upgrades and Downgrades

Several research analysts have commented on ANET shares. Melius Research lifted their price objective on shares of Arista Networks from $160.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. William Blair reaffirmed an “outperform” rating on shares of Arista Networks in a research note on Friday, September 12th. Wells Fargo & Company increased their price objective on shares of Arista Networks from $150.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, September 12th. UBS Group boosted their target price on Arista Networks from $115.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $145.00 target price (up previously from $143.00) on shares of Arista Networks in a research note on Wednesday, November 5th. Eighteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Arista Networks presently has a consensus rating of “Moderate Buy” and an average price target of $164.31.

Get Our Latest Research Report on Arista Networks

Arista Networks Stock Up 0.6%

The firm has a 50 day moving average of $146.16 and a 200-day moving average of $121.77. The company has a market cap of $165.13 billion, a P/E ratio of 51.57, a PEG ratio of 3.37 and a beta of 1.48.

Arista Networks (NYSE:ANET – Get Free Report) last issued its earnings results on Tuesday, November 4th. The technology company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.03. The business had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.26 billion. Arista Networks had a return on equity of 31.05% and a net margin of 40.90%.The business’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.40 EPS. Arista Networks has set its Q4 2025 guidance at EPS. On average, research analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Insider Activity

In other Arista Networks news, insider Kenneth Duda sold 30,000 shares of the stock in a transaction on Friday, October 17th. The stock was sold at an average price of $142.75, for a total transaction of $4,282,500.00. Following the sale, the insider owned 12,976 shares of the company’s stock, valued at approximately $1,852,324. This trade represents a 69.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $157.12, for a total value of $1,256,960.00. Following the completion of the transaction, the director directly owned 33,784 shares of the company’s stock, valued at approximately $5,308,142.08. The trade was a 19.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 2,009,040 shares of company stock worth $294,365,034. 3.39% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Arista Networks

A number of large investors have recently added to or reduced their stakes in the company. AdvisorNet Financial Inc raised its stake in shares of Arista Networks by 56.7% during the 3rd quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after acquiring an additional 72 shares in the last quarter. Knuff & Co LLC purchased a new position in Arista Networks in the third quarter worth $29,000. Richardson Financial Services Inc. increased its position in shares of Arista Networks by 141.3% during the third quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock worth $32,000 after purchasing an additional 130 shares in the last quarter. Bare Financial Services Inc lifted its holdings in shares of Arista Networks by 2,118.2% during the 2nd quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock valued at $25,000 after purchasing an additional 233 shares during the last quarter. Finally, SJS Investment Consulting Inc. boosted its position in shares of Arista Networks by 979.2% in the 3rd quarter. SJS Investment Consulting Inc. now owns 259 shares of the technology company’s stock worth $38,000 after purchasing an additional 235 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

About Arista Networks

(Get Free Report)

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.

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