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 $1,212,560 were sold by Ullal Jayshree on Apr 09 ’24. At $299.99 per share, Ullal Jayshree sold 4,042 shares. The insider’s holdings dropped to 1,628,532 shares worth approximately $482.99 million following the completion of this transaction.
Also, Ullal Jayshree sold 24,000 shares, netting a total of over 7,223,040 in proceeds. Following the sale of shares at $300.96 each, the insider now holds 1,629,300 shares.
Before that, McCool John F had sold 416 shares from its account. In a trade valued at $125,199, the Chief Platform Officer traded Arista Networks Inc shares for $300.96 each. Upon closing the transaction, the insider’s holdings decreased to 416 shares, worth approximately $0.0.
As published in a research note from Melius on January 08, 2024, Arista Networks Inc [ANET] has been rated up from a Hold to a Buy. Analysts at Citigroup resumed the stock at ‘”a Buy”‘ outlook in a report released in mid December. As of October 31, 2023, Morgan Stanley has increased its “an Equal-weight” rating to a “an Overweight” for ANET. Earlier on October 11, 2023, Piper Sandler downgraded its rating. Their new recommendation was “a Neutral” for ANET stock which previously was a “an Overweight”.
Analyzing ANET Stock Performance
During the last five days, there has been a surge of approximately 2.70%. Over the course of the year, Arista Networks Inc shares have jumped approximately 25.93%. Shares of the company reached a 52-week high of $307.74 on 03/22/24 and a 52-week low of $226.60 on 01/04/24. A 50-day SMA is recorded $281.18, while a 200-day SMA reached $221.03. Nevertheless, trading volume fell to 1.51 million shares from 1.91 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 291.38, which, if violated, would cause prices to drop to 286.19. In the upper region, resistance lies at 299.72. The next price resistance is at 302.87. RSI (Relative Strength Index) is 54.48 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.59, which suggests the price will decrease in the coming days. Percent R is at 47.15%, indicating low 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 steep in short interest on Mar 15, 2024 dropping by -0.39 million shares to 3.22 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 3.61 million shares. A decline of -12.11% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.3 of the overall float, the days-to-cover ratio (short ratio) decline to 1.3.
