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

Arista Networks, Inc. (NYSE:ANET) was the recipient of a significant decrease in short interest in January. As of January 31st, there was short interest totalling 9,880,000 shares, a decrease of 22.8% from the January 15th total of 12,790,000 shares. Based on an average daily volume of 8,460,000 shares, the short-interest ratio is currently 1.2 days.

Insider Activity at Arista Networks

In related news, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $412.65, for a total value of $825,300.00. Following the sale, the director now owns 42,946 shares of the company’s stock, valued at approximately $17,721,666.90. This represents a 4.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John F. Mccool sold 288 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $108.70, for a total value of $31,305.60. The disclosure for this sale can be found here. Insiders sold a total of 335,832 shares of company stock worth $37,787,297 over the last 90 days. Company insiders own 3.54% of the company’s stock.

Institutional Trading of Arista Networks

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of Arista Networks by 304.2% in the fourth quarter. Vanguard Group Inc. now owns 96,084,951 shares of the technology company’s stock valued at $10,620,270,000 after purchasing an additional 72,311,318 shares during the period. FMR LLC boosted its position in Arista Networks by 330.9% in the 4th quarter. FMR LLC now owns 57,648,129 shares of the technology company’s stock valued at $6,371,848,000 after buying an additional 44,269,572 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Arista Networks by 311.6% during the fourth quarter. Geode Capital Management LLC now owns 24,165,355 shares of the technology company’s stock valued at $2,665,829,000 after acquiring an additional 18,293,874 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of Arista Networks by 218.5% during the fourth quarter. Alliancebernstein L.P. now owns 21,070,016 shares of the technology company’s stock worth $2,328,869,000 after acquiring an additional 14,454,822 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Arista Networks in the fourth quarter worth about $1,397,833,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ANET has been the topic of several analyst reports. Barclays decreased their price target on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. Evercore ISI lifted their target price on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. The Goldman Sachs Group raised their price objective on Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, January 17th. UBS Group upped their target price on Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, Morgan Stanley raised their price target on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.59.

Arista Networks Stock Down 2.8 %

ANET opened at $106.64 on Monday. The company has a 50 day moving average of $113.94 and a two-hundred day moving average of $101.06. Arista Networks has a 52-week low of $60.08 and a 52-week high of $133.57. The company has a market cap of $134.35 billion, a P/E ratio of 51.27, a P/E/G ratio of 3.10 and a beta of 1.09.

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.