A company insider recently sold 19,500 shares of Arista Networks Inc. [ANET]. Should You Sale?

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 $2,438,058 were sold by Duda Kenneth on Sep 12. At $125.03 per share, Duda Kenneth sold 19,500 shares. The insider’s holdings dropped to 258,100 shares worth approximately $29.38 million following the completion of this transaction.

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Also, Duda Kenneth sold 20,000 shares, netting a total of over 2,500,608 in proceeds. Following the sale of shares at $125.03 each, the insider now holds 3,244 shares.

Before that, Giancarlo Charles H had sold 2,000 shares from its account. In a trade valued at $250,161, the Director traded Arista Networks Inc. shares for $125.08 each. Upon closing the transaction, the insider’s holdings decreased to 2,000 shares, worth approximately $11.03 million.

As published in a research note from Barclays on September 21, 2022, Arista Networks Inc. [ANET] has been rated up from an Equal weight to an Overweight and the price target has been revised to $131. This represents a 13.11% premium over Wednesday’s closing price. Analysts at Deutsche Bank started covering the stock with ‘”a Hold”‘ outlook in a report released in late August. As of July 20, 2022, BofA Securities has decreased its “Buy” rating to a “an Underperform” for ANET. Earlier on July 19, 2022, Needham upgraded its rating. Their new recommendation was “a Buy” for ANET stock which previously was a “a Hold”.

Analyzing ANET’s Price Performance

On Wednesday, Arista Networks Inc. [NYSE: ANET] plunged -0.22% to $113.82. The stock’s lowest price that day was $113.77, but it reached a high of $118.8099 in the same session. During the last five days, there has been a drop of approximately -6.90%. Over the course of the year, Arista Networks Inc. shares have dropped approximately -20.82%. 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 $118.05, while a 200-day SMA reached $119.06. Nevertheless, trading volume fell to 1.83 million shares from 1.27 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 112.12, which, if violated, would cause prices to drop to 110.43. In the upper region, resistance lies at 117.16. The next price resistance is at 120.51. RSI (Relative Strength Index) is 38.73 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 90.51%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Arista Networks Inc. subject to short interest?

Stocks of Arista Networks Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.57 million shares to 3.38 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 3.95 million shares. A decline of -16.86% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.02 of the overall float, the days-to-cover ratio (short ratio) decline to 2.02.

Which companies own the most shares of Arista Networks Inc. (ANET)?

According to The Vanguard Group, Inc. filings, the company currently owns 24,772,435 shares, which is about 8.14% of the total ANET shares outstanding. The investor’s shares have appreciated by 429,661 from its previous 13-F filing of 24342774.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $1,517,904,976. AllianceBernstein LP acquire a 12.31% interest valued at $1.27 billion while SSgA Funds Management, Inc. sold a -92,889 stake. A total of 1,455 shares of Arista Networks Inc. were sold by Capital Research & Management Co during the quarter, and -198,562 were sold by Wellington Management Co. LLP. In its current portfolio, Artisan Partners LP holds 5,724,904 shares valued at $686.3 million.

In terms of Arista Networks Inc. share price expectations, FactSet research, analysts set an average price target of $149.26 in the next 12 months, up nearly 27.11% from the previous closing price of $114.07. Analysts anticipate Arista Networks Inc. stock to reach $189.00 by 2022, with the lowest price target being $105.00. In spite of this, 29 analysts ranked Arista Networks Inc. stock as an Overweight at the end of 2022. On July 13, 2022, Rosenblatt assigned a price target of “a Buy” to the stock and initiated coverage with a $140.


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