Arista Networks, Inc. (NYSE:ANET) SVP Kenneth Duda Sells 80,000 Shares

Arista Networks, Inc. (NYSE:ANETGet Free Report) SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $118.47, for a total transaction of $9,477,600.00. Following the sale, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at $1,537,266.72. The trade was a 86.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Kenneth Duda also recently made the following trade(s):

  • On Friday, December 6th, Kenneth Duda sold 80,000 shares of Arista Networks stock. The shares were sold at an average price of $108.29, for a total transaction of $8,663,200.00.
  • On Wednesday, November 6th, Kenneth Duda sold 80,000 shares of Arista Networks stock. The stock was sold at an average price of $105.09, for a total transaction of $8,407,200.00.

Arista Networks Price Performance

Shares of NYSE:ANET opened at $115.76 on Thursday. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $120.28. The firm has a market capitalization of $145.83 billion, a PE ratio of 55.65, a price-to-earnings-growth ratio of 3.21 and a beta of 1.08. The business has a 50 day simple moving average of $105.78 and a two-hundred day simple moving average of $95.55.

Arista Networks (NYSE:ANETGet Free Report) last posted its quarterly earnings results on Thursday, November 7th. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.52 by $0.08. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter last year, the firm posted $0.41 EPS. The firm’s revenue was up 20.0% compared to the same quarter last year. Equities research analysts expect that Arista Networks, Inc. will post 1.96 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on ANET. UBS Group boosted their price target on Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a report on Friday, November 8th. Piper Sandler reiterated a “neutral” rating and issued a $105.25 price target (up from $86.25) on shares of Arista Networks in a research report on Friday, November 8th. Rosenblatt Securities increased their price objective on shares of Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a report on Friday, November 8th. StockNews.com lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Finally, Citigroup raised their price target on Arista Networks from $96.25 to $115.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $102.42.

Get Our Latest Analysis on ANET

Institutional Investors Weigh In On Arista Networks

A number of institutional investors and hedge funds have recently bought and sold shares of ANET. State Street Corp raised its holdings in shares of Arista Networks by 3.8% in the third quarter. State Street Corp now owns 11,237,635 shares of the technology company’s stock valued at $4,313,229,000 after acquiring an additional 411,109 shares in the last quarter. Geode Capital Management LLC increased its position in Arista Networks by 4.2% during the 3rd quarter. Geode Capital Management LLC now owns 5,871,481 shares of the technology company’s stock valued at $2,246,705,000 after purchasing an additional 236,151 shares during the period. Wellington Management Group LLP raised its holdings in shares of Arista Networks by 22.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,660,695 shares of the technology company’s stock valued at $1,021,228,000 after purchasing an additional 492,615 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Arista Networks by 4.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,283,573 shares of the technology company’s stock worth $876,481,000 after purchasing an additional 99,790 shares during the period. Finally, Legal & General Group Plc increased its holdings in Arista Networks by 0.9% during the second quarter. Legal & General Group Plc now owns 2,195,733 shares of the technology company’s stock valued at $769,560,000 after buying an additional 20,278 shares during the period. 82.47% of the stock is owned by institutional investors.

About Arista Networks

(Get Free Report)

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.

Further Reading

Insider Buying and Selling by Quarter for Arista Networks (NYSE:ANET)

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