Arista Networks, Inc. (NYSE:ANET) SVP Kenneth Duda Sells 10,000 Shares

Arista Networks, Inc. (NYSE:ANET) SVP Kenneth Duda sold 10,000 shares of the firm’s stock in a transaction dated Friday, September 10th. The shares were sold at an average price of $355.27, for a total value of $3,552,700.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

  • On Tuesday, August 10th, Kenneth Duda sold 10,000 shares of Arista Networks stock. The stock was sold at an average price of $371.91, for a total transaction of $3,719,100.00.
  • On Monday, July 12th, Kenneth Duda sold 10,000 shares of Arista Networks stock. The stock was sold at an average price of $372.27, for a total transaction of $3,722,700.00.
  • On Tuesday, July 6th, Kenneth Duda sold 51 shares of Arista Networks stock. The shares were sold at an average price of $375.00, for a total transaction of $19,125.00.

Shares of ANET stock traded down $0.54 on Tuesday, reaching $357.76. The stock had a trading volume of 399,932 shares, compared to its average volume of 482,602. The firm’s 50-day moving average is $369.47 and its two-hundred day moving average is $339.53. The firm has a market capitalization of $27.45 billion, a price-to-earnings ratio of 39.01, a P/E/G ratio of 3.02 and a beta of 1.15. Arista Networks, Inc. has a 12 month low of $192.96 and a 12 month high of $384.00.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Sunday, August 1st. The technology company reported $2.72 EPS for the quarter, beating the Zacks’ consensus estimate of $2.54 by $0.18. Arista Networks had a net margin of 27.72% and a return on equity of 20.92%. The business had revenue of $707.30 million for the quarter, compared to analyst estimates of $688.89 million. During the same quarter in the prior year, the business earned $2.11 EPS. Arista Networks’s quarterly revenue was up 30.8% on a year-over-year basis. Research analysts forecast that Arista Networks, Inc. will post 9.04 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Massmutual Trust Co. FSB ADV grew its stake in Arista Networks by 56.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 78 shares of the technology company’s stock valued at $28,000 after buying an additional 28 shares during the last quarter. NEXT Financial Group Inc grew its stake in Arista Networks by 2.2% in the 2nd quarter. NEXT Financial Group Inc now owns 1,376 shares of the technology company’s stock valued at $499,000 after buying an additional 29 shares during the last quarter. Kistler Tiffany Companies LLC grew its stake in Arista Networks by 40.3% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 108 shares of the technology company’s stock valued at $39,000 after buying an additional 31 shares during the last quarter. Colony Capital Inc. grew its stake in Arista Networks by 0.8% in the 1st quarter. Colony Capital Inc. now owns 4,249 shares of the technology company’s stock valued at $1,283,000 after buying an additional 33 shares during the last quarter. Finally, Seeyond grew its stake in Arista Networks by 0.4% in the 2nd quarter. Seeyond now owns 7,662 shares of the technology company’s stock valued at $2,776,000 after buying an additional 34 shares during the last quarter. Institutional investors and hedge funds own 61.51% of the company’s stock.

A number of equities analysts recently weighed in on the stock. Evercore ISI reaffirmed a “buy” rating on shares of Arista Networks in a research note on Sunday, August 8th. Cowen upped their target price on shares of Arista Networks from $385.00 to $433.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 3rd. Morgan Stanley upped their target price on shares of Arista Networks from $345.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 6th. Credit Suisse Group upped their target price on shares of Arista Networks from $362.00 to $410.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 3rd. Finally, KeyCorp upped their target price on shares of Arista Networks from $424.00 to $430.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 3rd. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Arista Networks currently has a consensus rating of “Buy” and an average target price of $381.33.

About Arista Networks

Arista Networks, Inc engages in the development, marketing, and sale of cloud networking solutions. Its cloud networking solutions consist of Extensible Operating System(EOS) a set of network applications and Ethernet switching, and routing platforms. The company was founded by Andreas Bechtolsheim, David Cheriton, and Kenneth Duda in October 2004 and is headquartered in Santa Clara, CA.

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