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

Arista Networks, Inc. (NYSE:ANET) saw a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 2,700,000 shares, a growth of 9.3% from the August 31st total of 2,470,000 shares. Based on an average daily trading volume, of 1,900,000 shares, the days-to-cover ratio is presently 1.4 days.

Wall Street Analyst Weigh In

Several research analysts recently commented on ANET shares. Rosenblatt Securities increased their target price on shares of Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a report on Wednesday, July 31st. Evercore ISI increased 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. Bank of America upped their price target on shares of Arista Networks from $320.00 to $380.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. Wells Fargo & Company upped their price target on shares of Arista Networks from $340.00 to $390.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Finally, UBS Group upped their price target on shares of Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $364.81.

Arista Networks Stock Performance

NYSE:ANET traded down $2.10 during mid-day trading on Tuesday, reaching $381.72. 1,052,405 shares of the company’s stock were exchanged, compared to its average volume of 2,281,943. Arista Networks has a one year low of $168.25 and a one year high of $395.82. The firm has a market capitalization of $119.62 billion, a PE ratio of 53.16, a price-to-earnings-growth ratio of 3.04 and a beta of 1.07. The business’s fifty day simple moving average is $347.22 and its two-hundred day simple moving average is $322.12.

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

Insider Activity

In other news, Director Kelly Bodnar Battles sold 372 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $356.74, for a total value of $132,707.28. Following the completion of the transaction, the director now owns 2,565 shares in the company, valued at $915,038.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Kelly Bodnar Battles sold 372 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $356.74, for a total value of $132,707.28. Following the completion of the transaction, the director now owns 2,565 shares in the company, valued at $915,038.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John F. Mccool sold 584 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $351.09, for a total transaction of $205,036.56. Following the transaction, the insider now owns 72 shares of the company’s stock, valued at approximately $25,278.48. The disclosure for this sale can be found here. Insiders sold 54,157 shares of company stock worth $19,291,193 over the last quarter. 3.54% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Arista Networks

A number of large investors have recently bought and sold shares of ANET. GQG Partners LLC acquired a new stake in Arista Networks during the first quarter worth about $881,848,000. Swedbank AB acquired a new stake in Arista Networks during the first quarter worth about $521,767,000. Vanguard Group Inc. grew its stake in Arista Networks by 5.7% during the fourth quarter. Vanguard Group Inc. now owns 29,494,876 shares of the technology company’s stock worth $6,946,338,000 after buying an additional 1,596,040 shares in the last quarter. Ameriprise Financial Inc. grew its stake in Arista Networks by 97.2% during the second quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company’s stock worth $628,966,000 after buying an additional 884,703 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its stake in shares of Arista Networks by 4,160.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 515,700 shares of the technology company’s stock valued at $180,743,000 after purchasing an additional 503,597 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

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.