The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Arista Networks Inc. shares valued at $1,913,161 were sold by Duda Kenneth on Jun 10. At $95.66 per share, Duda Kenneth sold 20,000 shares. The insider’s holdings dropped to 3,244 shares worth approximately $0.3 million following the completion of this transaction.
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Also, Duda Kenneth sold 19,500 shares, netting a total of over 1,865,289 in proceeds. Following the sale of shares at $95.66 each, the insider now holds 268,600 shares.
Before that, BECHTOLSHEIM ANDREAS had sold 12,988 shares from its account. In a trade valued at $1,348,133, the Chief Development Officer traded Arista Networks Inc. shares for $103.80 each. Upon closing the transaction, the insider’s holdings decreased to 12,988 shares, worth approximately $4.26 billion.
As published in a research note from Wells Fargo on March 10, 2022, Arista Networks Inc. [ANET] has been rated up from an Equal weight to an Overweight and the price target has been revised to $160 from $142. This represents a 41.85% premium over Wednesday’s closing price. Analysts at Wells Fargo resumed the stock at ‘”an Equal weight”‘ outlook in a report released in mid February. As of February 15, 2022, UBS has reiterated its “Neutral” rating for ANET. Earlier on February 15, 2022, Piper Sandler resumed its rating. Their recommendation was “a Neutral” for ANET stock.
Analyzing ANET’s Price Performance
On Wednesday, Arista Networks Inc. [NYSE: ANET] plunged -0.84% to $93.04. The stock’s lowest price that day was $92.41, but it reached a high of $94.79 in the same session. During the last five days, there has been a surge of approximately 1.21%. Over the course of the year, Arista Networks Inc. shares have dropped approximately -35.28%. Shares of the company reached a 52-week high of $144.50 on 01/03/22 and a 52-week low of $89.11 on 06/16/22. A 50-day SMA is recorded $108.10, while a 200-day SMA reached $116.49. Nevertheless, trading volume fell to 1.36 million shares from 1.59 million shares the previous day.
Support And Resistance Levels for Arista Networks Inc. (ANET)
According to the 24-hour chart, there is a support level at 92.04, which, if violated, would cause prices to drop to 91.03. In the upper region, resistance lies at 94.42. The next price resistance is at 95.79. RSI (Relative Strength Index) is 37.52 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.44, which suggests the price will decrease in the coming days. Percent R is at 77.01%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Arista Networks Inc. subject to short interest?
Stocks of Arista Networks Inc. saw a sharp rise in short interest on Apr 28, 2022 jumping by 0.36 million shares to 3.39 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2022 was 3.03 million shares. A jump of 10.62% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.96 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.96.
Which companies own the most shares of Arista Networks Inc. (ANET)?
According to The Vanguard Group, Inc. filings, the company currently owns 24,342,774 shares, which is about 7.90% of the total ANET shares outstanding. The investor’s shares have appreciated by 378,725 from its previous 13-F filing of 23964049.0 shares. With the completion of the sale, BlackRock Fund Advisors’s stake is now worth $1,263,194,923. AllianceBernstein LP acquire a 12.20% interest valued at $961.08 million while SSgA Funds Management, Inc. sold a -138,377 stake. A total of -1,089,451 shares of Arista Networks Inc. were sold by Capital Research & Management Co during the quarter, and -459,490 were sold by Wellington Management Co. LLP. In its current portfolio, Artisan Partners LP holds 5,171,122 shares valued at $528.9 million.
In terms of Arista Networks Inc. share price expectations, FactSet research, analysts set an average price target of $150.37 in the next 12 months, up nearly 59.86% from the previous closing price of $93.83. Analysts anticipate Arista Networks Inc. stock to reach $178.00 by 2022, with the lowest price target being $114.00. In spite of this, 26 analysts ranked Arista Networks Inc. stock as an Overweight at the end of 2022. On February 15, 2022, Loop Capital assigned a price target of “a Buy” to the stock and reiterated coverage with a $170.