Arista Networks Inc (NYSE:ANET) was the recipient of a large decline in short interest during the month of July. As of July 31st, there was short interest totalling 1,419,100 shares, a decline of 22.3% from the June 30th total of 1,827,500 shares. Approximately 2.7% of the company’s stock are sold short. Based on an average daily trading volume, of 943,600 shares, the short-interest ratio is presently 1.5 days.

Several research analysts have recently weighed in on the stock. Stifel Nicolaus lowered their price objective on shares of Arista Networks from $294.00 to $287.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd. Nomura boosted their price objective on shares of Arista Networks from $275.00 to $375.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. JMP Securities restated an “outperform” rating and set a $280.00 price objective (down from $315.00) on shares of Arista Networks in a research note on Friday, August 2nd. Needham & Company LLC lowered their price objective on shares of Arista Networks to $340.00 and set a “buy” rating on the stock in a research note on Monday, July 29th. Finally, Credit Suisse Group boosted their price objective on shares of Arista Networks from $317.00 to $347.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Eight analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $308.78.

In other Arista Networks news, insider Andreas Bechtolsheim sold 140,241 shares of Arista Networks stock in a transaction on Monday, June 10th. The shares were sold at an average price of $252.84, for a total value of $35,458,534.44. Following the sale, the insider now directly owns 16,113 shares in the company, valued at approximately $4,074,010.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Manuel Felix Rivelo sold 303 shares of Arista Networks stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $253.11, for a total transaction of $76,692.33. Following the completion of the sale, the senior vice president now owns 1,270 shares in the company, valued at $321,449.70. The disclosure for this sale can be found here. Insiders sold a total of 201,304 shares of company stock worth $51,325,365 over the last quarter. Company insiders own 23.83% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Lenox Wealth Management Inc. acquired a new position in Arista Networks in the 1st quarter valued at about $26,000. Whittier Trust Co. acquired a new position in Arista Networks in the 1st quarter valued at about $44,000. Gradient Investments LLC acquired a new position in Arista Networks in the 2nd quarter valued at about $37,000. Golden State Wealth Management LLC acquired a new position in Arista Networks in the 2nd quarter valued at about $41,000. Finally, Financial Management Professionals Inc. grew its stake in Arista Networks by 548.0% in the 2nd quarter. Financial Management Professionals Inc. now owns 162 shares of the technology company’s stock valued at $42,000 after buying an additional 137 shares during the last quarter. Institutional investors and hedge funds own 58.70% of the company’s stock.

Shares of ANET opened at $230.82 on Wednesday. Arista Networks has a 52 week low of $187.08 and a 52 week high of $331.27. The firm has a market cap of $17.53 billion, a price-to-earnings ratio of 32.65, a P/E/G ratio of 1.38 and a beta of 1.58. The firm has a 50-day moving average of $262.21. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.17 and a current ratio of 5.77.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $2.44 EPS for the quarter, beating the Zacks’ consensus estimate of $1.98 by $0.46. Arista Networks had a net margin of 30.86% and a return on equity of 28.76%. The business had revenue of $608.32 million for the quarter, compared to analyst estimates of $606.78 million. During the same quarter in the prior year, the business earned $1.93 EPS. Arista Networks’s quarterly revenue was up 17.0% on a year-over-year basis. Analysts anticipate that Arista Networks will post 8.67 earnings per share for the current year.

Arista Networks Company Profile

Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms, including universal leaf, spline, and universal spine products.

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