Arista Networks, Inc. (NYSE:ANET) Short Interest Update

Arista Networks, Inc. (NYSE:ANET) was the target of a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 2,470,000 shares, a drop of 5.7% from the August 15th total of 2,620,000 shares. Based on an average daily volume of 2,080,000 shares, the short-interest ratio is presently 1.2 days.

Arista Networks Price Performance

Arista Networks stock opened at $360.97 on Wednesday. The firm has a 50-day moving average of $340.74 and a 200-day moving average of $315.02. The company has a market cap of $113.11 billion, a price-to-earnings ratio of 50.27, a P/E/G ratio of 2.70 and a beta of 1.07. Arista Networks has a one year low of $168.25 and a one year high of $376.50.

Arista Networks (NYSE:ANET) last announced its earnings results on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, topping the consensus estimate of $1.72 by $0.38. The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.66 billion. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period last year, the firm earned $1.41 earnings per share. As a group, sell-side analysts expect that Arista Networks will post 7.38 earnings per share for the current year.

Insider Buying and Selling at Arista Networks

In other news, CEO Jayshree Ullal sold 25,000 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $347.00, for a total value of $8,675,000.00. Following the transaction, the chief executive officer now directly owns 1,600,800 shares in the company, valued at $555,477,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Kenneth Duda sold 1,689 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $321.28, for a total value of $542,641.92. Following the completion of the transaction, the senior vice president now owns 182,600 shares of the company’s stock, valued at approximately $58,665,728. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jayshree Ullal sold 25,000 shares of the stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $347.00, for a total value of $8,675,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,600,800 shares of the company’s stock, valued at approximately $555,477,600. The disclosure for this sale can be found here. In the last three months, insiders have sold 106,989 shares of company stock worth $37,891,416. Insiders own 3.54% of the company’s stock.

Hedge Funds Weigh In On Arista Networks

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Arista Networks by 5.7% in the fourth quarter. Vanguard Group Inc. now owns 29,494,876 shares of the technology company’s stock valued at $6,946,338,000 after purchasing an additional 1,596,040 shares in the last quarter. Capital World Investors boosted its holdings in Arista Networks by 0.5% during the fourth quarter. Capital World Investors now owns 10,136,348 shares of the technology company’s stock worth $2,387,211,000 after purchasing an additional 55,312 shares during the last quarter. WCM Investment Management LLC boosted its holdings in Arista Networks by 0.8% during the first quarter. WCM Investment Management LLC now owns 3,049,416 shares of the technology company’s stock worth $884,270,000 after purchasing an additional 25,196 shares during the last quarter. GQG Partners LLC purchased a new position in Arista Networks in the first quarter valued at about $881,848,000. Finally, Legal & General Group Plc boosted its stake in Arista Networks by 0.9% in the second quarter. Legal & General Group Plc now owns 2,195,733 shares of the technology company’s stock valued at $769,560,000 after acquiring an additional 20,278 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on ANET. Erste Group Bank reissued a “buy” rating on shares of Arista Networks in a report on Friday, June 14th. Morgan Stanley boosted their price target on Arista Networks from $325.00 to $355.00 and gave the company an “overweight” rating in a report on Thursday, July 18th. Bank of America upped their price objective on Arista Networks from $320.00 to $380.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. UBS Group upped their price objective on Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Finally, KeyCorp upped their price target on shares of Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $358.63.

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.