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

Arista Networks, Inc. (NYSE:ANET) was the target of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 13,630,000 shares, an increase of 22.1% from the November 30th total of 11,160,000 shares. Based on an average daily volume of 7,430,000 shares, the short-interest ratio is presently 1.8 days.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. StockNews.com downgraded Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Citigroup boosted their price objective on shares of Arista Networks from $96.25 to $115.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. UBS Group increased their target price on shares of Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Wells Fargo & Company boosted their price target on shares of Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Evercore ISI increased their price objective on shares of Arista Networks from $100.00 to $106.25 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $100.70.

Arista Networks Price Performance

Shares of Arista Networks stock traded down $0.92 on Tuesday, reaching $110.53. 3,420,185 shares of the company were exchanged, compared to its average volume of 8,687,398. The stock’s 50 day moving average price is $103.67 and its 200-day moving average price is $94.17. The company has a market cap of $139.24 billion, a P/E ratio of 53.14, a price-to-earnings-growth ratio of 3.21 and a beta of 1.10. Arista Networks has a 1-year low of $56.65 and a 1-year high of $116.94.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data 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 company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.76 billion. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The company’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.41 EPS. On average, research analysts predict that Arista Networks will post 1.96 earnings per share for the current fiscal year.

Insider Transactions at Arista Networks

In related news, CEO Jayshree Ullal sold 3,344 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $96.67, for a total transaction of $323,264.48. Following the completion of the sale, the chief executive officer now directly owns 70,724 shares in the company, valued at approximately $6,836,889.08. This trade represents a 4.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John F. Mccool sold 288 shares of Arista Networks stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $108.70, for a total transaction of $31,305.60. The disclosure for this sale can be found here. Insiders have sold a total of 340,660 shares of company stock worth $35,609,360 in the last ninety days. Insiders own 3.54% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ANET. LGT Financial Advisors LLC purchased a new position in Arista Networks in the second quarter valued at approximately $27,000. Anchor Investment Management LLC acquired a new stake in Arista Networks during the 2nd quarter worth $35,000. MidAtlantic Capital Management Inc. purchased a new stake in Arista Networks in the third quarter valued at $44,000. HM Payson & Co. boosted its stake in Arista Networks by 28.2% in the third quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock valued at $51,000 after acquiring an additional 29 shares in the last quarter. Finally, True Wealth Design LLC increased its position in shares of Arista Networks by 2,133.3% during the third quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock worth $51,000 after purchasing an additional 128 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

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.