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

Arista Networks, Inc. (NYSE:ANET) SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $115.61, for a total value of $9,248,800.00. Following the completion of the sale, the senior vice president now owns 12,976 shares of the company’s stock, valued at approximately $1,500,155.36. The trade was a 86.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, January 6th, Kenneth Duda sold 80,000 shares of Arista Networks stock. The shares were sold at an average price of $118.47, for a total value of $9,477,600.00.
• On Friday, December 6th, Kenneth Duda sold 80,000 shares of Arista Networks stock. The stock was sold at an average price of $108.29, for a total transaction of $8,663,200.00.

Arista Networks Trading Down 2.8 %

ANET opened at $116.82 on Wednesday. The stock’s 50-day moving average price is $113.57 and its 200 day moving average price is $100.33. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.57. The firm has a market cap of $147.16 billion, a price-to-earnings ratio of 56.16, a PEG ratio of 3.10 and a beta of 1.09.

Institutional Investors Weigh In On Arista Networks

A number of hedge funds and other institutional investors have recently modified their holdings of the company. MidAtlantic Capital Management Inc. acquired a new stake in shares of Arista Networks during the 3rd quarter worth about $44,000. HM Payson & Co. lifted its position in shares of Arista Networks by 28.2% during the 3rd quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock worth $51,000 after buying an additional 29 shares during the last quarter. True Wealth Design LLC boosted its holdings in shares of Arista Networks by 2,133.3% in the 3rd quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock valued at $51,000 after buying an additional 128 shares in the last quarter. Anchor Investment Management LLC grew its position in shares of Arista Networks by 35.0% in the 3rd quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock valued at $52,000 after buying an additional 35 shares during the last quarter. Finally, ORG Partners LLC raised its stake in Arista Networks by 186.0% during the 3rd quarter. ORG Partners LLC now owns 143 shares of the technology company’s stock worth $55,000 after acquiring an additional 93 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Barclays decreased their price objective on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. Rosenblatt Securities raised their price target on Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a report on Friday, November 8th. The Goldman Sachs Group upped their price objective on Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. StockNews.com downgraded Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Finally, UBS Group upped their price target on Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research note on Friday, November 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 stock. According to data from MarketBeat.com, Arista Networks has a consensus rating of “Moderate Buy” and an average target price of $105.83.

About Arista Networks

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.