Why Are Shares of Arista Networks (ANET) Down Today?

This afternoon we watched Arista Networks drop -8.0% to a price of $171.24 per share. The large-cap Computer Equipment company is now trading -14.62% below its average target price of $200.56. Analysts have set target prices ranging from $154.0 to $230.0 per share for Arista Networks, and have given the stock an average rating of buy.

The stock has a very low short interest at 1.2%, and a short ratio of 1.73. The company's insiders own 22.66% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that an average number of institutional investors are invested in the stock, with 68.0% of Arista Networks's shares being owned by this investor type.

Institutions Invested in Arista Networks

Date Reported Holder Percentage Shares Value
2023-06-30 Vanguard Group Inc 9% 27,814,624 $4,762,976,366
2023-06-30 Blackrock Inc. 6% 17,872,231 $3,060,440,934
2023-06-30 Cresset Asset Management, LLC 4% 11,136,616 $1,907,034,185
2023-06-30 State Street Corporation 3% 10,280,987 $1,760,516,270
2023-06-30 Capital World Investors 3% 9,819,327 $1,681,461,609
2023-06-30 Alliancebernstein L.P. 3% 9,265,081 $1,586,552,521
2023-06-30 FMR, LLC 3% 7,802,769 $1,336,146,206
2023-06-30 Morgan Stanley 2% 5,421,060 $928,302,344
2023-06-30 Geode Capital Management, LLC 1% 4,563,941 $781,529,281
2023-06-30 Capital Research Global Investors 1% 3,848,311 $658,984,796

Besides an analyst consensus of some upside potential, other market factors point to there being positive market sentiment on Arista Networks.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.