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

Arista Networks, Inc. (NYSE:ANET) SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $118.47, for a total transaction of $9,477,600.00. Following the completion of the transaction, the senior vice president now owns 12,976 shares of the company’s stock, valued at approximately $1,537,266.72. This trade represents a 86.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

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

Arista Networks Trading Up 0.4 %

Arista Networks stock traded up $0.47 during mid-day trading on Wednesday, hitting $115.76. 5,371,953 shares of the company’s stock were exchanged, compared to its average volume of 6,396,429. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $120.28. The stock has a 50 day moving average of $105.78 and a two-hundred day moving average of $95.55. The stock has a market cap of $145.83 billion, a P/E ratio of 55.65, a P/E/G ratio of 3.21 and a beta of 1.08.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Thursday, November 7th. The technology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.76 billion. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The firm’s revenue was up 20.0% compared to the same quarter last year. During the same period last year, the business earned $0.41 EPS. As a group, research analysts predict that Arista Networks, Inc. will post 1.96 EPS for the current fiscal year.

Institutional Trading of Arista Networks

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

Analyst Ratings Changes

A number of research analysts have recently commented on ANET shares. StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Rosenblatt Securities raised their target price on shares of Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a research note on Friday, November 8th. UBS Group increased their price objective on shares of Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a report on Friday, November 8th. Morgan Stanley boosted their target price on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, Evercore ISI increased their price target on Arista Networks from $100.00 to $106.25 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $100.70.

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.