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

Arista Networks, Inc. (NYSE:ANET) was the target of a significant growth in short interest in November. As of November 15th, there was short interest totalling 3,000,000 shares, a growth of 10.3% from the October 31st total of 2,720,000 shares. Based on an average daily trading volume, of 1,840,000 shares, the days-to-cover ratio is presently 1.6 days.

Insider Activity at Arista Networks

In other news, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $394.69, for a total value of $7,893,800.00. Following the sale, the senior vice president now directly owns 3,244 shares in the company, valued at approximately $1,280,374.36. This trade represents a 86.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jayshree Ullal sold 836 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $386.68, for a total transaction of $323,264.48. Following the transaction, the chief executive officer now owns 17,681 shares of the company’s stock, valued at approximately $6,836,889.08. This represents a 4.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,858 shares of company stock valued at $27,997,541 over the last ninety days. 3.54% of the stock is owned by corporate insiders.

Institutional Trading of Arista Networks

Several hedge funds have recently bought and sold shares of the business. Beacon Capital Management LLC lifted its stake in shares of Arista Networks by 500.0% in the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after buying an additional 65 shares in the last quarter. LGT Financial Advisors LLC acquired a new stake in shares of Arista Networks in the 2nd quarter worth about $27,000. Byrne Asset Management LLC bought a new position in Arista Networks in the 2nd quarter valued at about $33,000. Sugarloaf Wealth Management LLC acquired a new position in Arista Networks during the 2nd quarter valued at about $35,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Arista Networks during the 2nd quarter worth approximately $35,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on ANET shares. Citigroup upped their target price on Arista Networks from $385.00 to $460.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Barclays raised their price objective on shares of Arista Networks from $341.00 to $495.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Evercore ISI boosted their target price on shares of Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Rosenblatt Securities raised their price target on shares of Arista Networks from $265.00 to $320.00 and gave the company a “sell” rating in a research note on Friday, November 8th. Finally, Wells Fargo & Company boosted their price objective on shares of Arista Networks from $390.00 to $460.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $395.19.

Arista Networks Trading Up 1.1 %

NYSE ANET traded up $4.36 on Tuesday, hitting $414.46. 1,794,101 shares of the company were exchanged, compared to its average volume of 2,473,612. Arista Networks has a 12 month low of $210.69 and a 12 month high of $431.97. The company has a market cap of $130.53 billion, a PE ratio of 49.81, a PEG ratio of 3.09 and a beta of 1.10. The stock has a fifty day moving average of $397.74 and a 200-day moving average of $358.46.

Shares of Arista Networks are scheduled to split on the morning of Wednesday, December 4th. The 4-1 split was announced on Thursday, November 7th. The newly issued shares will be issued to shareholders after the market closes on Tuesday, December 3rd.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Thursday, November 7th. The technology company reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.32. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.76 billion. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The company’s quarterly revenue was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.63 earnings per share. On average, analysts expect that Arista Networks will post 7.79 earnings per share for the current year.

About Arista Networks

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.