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

Arista Networks, Inc. (NYSE:ANET) was the recipient of a significant increase in short interest in February. As of February 27th, there was short interest totaling 14,940,850 shares, an increase of 17.3% from the February 12th total of 12,739,253 shares. Based on an average daily trading volume, of 8,121,315 shares, the days-to-cover ratio is presently 1.8 days. Approximately 1.2% of the company’s shares are short sold. Approximately 1.2% of the company’s shares are short sold. Based on an average daily trading volume, of 8,121,315 shares, the days-to-cover ratio is presently 1.8 days.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Needham & Company LLC raised their price objective on shares of Arista Networks from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. TD Cowen began coverage on shares of Arista Networks in a report on Thursday. They issued a “buy” rating and a $170.00 target price on the stock. KeyCorp reissued an “overweight” rating and issued a $178.00 price target (up from $170.00) on shares of Arista Networks in a research note on Friday, February 13th. Barclays restated an “overweight” rating and set a $184.00 price target (up from $183.00) on shares of Arista Networks in a report on Friday, February 13th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Arista Networks in a report on Monday, December 29th. Eighteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $176.47.

Arista Networks Trading Up 1.3%

NYSE ANET traded up $1.80 during trading hours on Monday, reaching $135.37. The company had a trading volume of 7,879,562 shares, compared to its average volume of 6,742,056. The stock has a 50-day moving average of $134.82 and a 200 day moving average of $137.34. Arista Networks has a 1-year low of $59.43 and a 1-year high of $164.94. The stock has a market capitalization of $170.09 billion, a P/E ratio of 49.05, a price-to-earnings-growth ratio of 2.37 and a beta of 1.46.

Arista Networks (NYSE:ANET) last announced its earnings results on Thursday, February 12th. The technology company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.07. The company had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.38 billion. Arista Networks had a net margin of 38.99% and a return on equity of 30.37%. Arista Networks’s revenue was up 28.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.66 earnings per share. As a group, sell-side analysts predict that Arista Networks will post 2.2 EPS for the current year.

Insider Buying and Selling

In other Arista Networks news, insider Kenneth Duda sold 32,000 shares of the business’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $142.44, for a total transaction of $4,558,080.00. Following the transaction, the insider owned 12,976 shares of the company’s stock, valued at approximately $1,848,301.44. The trade was a 71.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $140.43, for a total value of $1,123,440.00. Following the completion of the sale, the director owned 9,784 shares of the company’s stock, valued at approximately $1,373,967.12. The trade was a 44.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 196,237 shares of company stock worth $25,865,760. 3.54% of the stock is owned by corporate insiders.

Institutional Trading of Arista Networks

Several institutional investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC lifted its stake in Arista Networks by 321.7% during the fourth quarter. Brighton Jones LLC now owns 7,806 shares of the technology company’s stock worth $863,000 after purchasing an additional 5,955 shares in the last quarter. Revolve Wealth Partners LLC acquired a new stake in shares of Arista Networks in the fourth quarter valued at $202,000. Bison Wealth LLC acquired a new stake in shares of Arista Networks in the fourth quarter valued at $251,000. Sivia Capital Partners LLC raised its holdings in shares of Arista Networks by 48.4% in the 2nd quarter. Sivia Capital Partners LLC now owns 10,723 shares of the technology company’s stock valued at $1,097,000 after buying an additional 3,496 shares during the period. Finally, Foundations Investment Advisors LLC raised its holdings in shares of Arista Networks by 67.0% in the 2nd quarter. Foundations Investment Advisors LLC now owns 11,787 shares of the technology company’s stock valued at $1,206,000 after buying an additional 4,728 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Company Profile

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.