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 on Monday, January 6th. The stock was sold at an average price of $118.47, for a total value of $9,477,600.00. Following the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,537,266.72. The trade was a 86.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible 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 %

ANET opened at $115.76 on Thursday. The firm has a market capitalization of $145.83 billion, a PE ratio of 55.65, a PEG ratio of 3.21 and a beta of 1.08. The firm’s 50-day moving average price is $105.78 and its 200 day moving average price is $95.55. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $120.28.

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

Hedge Funds Weigh In On Arista Networks

Institutional investors have recently bought and sold shares of the company. Zions Bancorporation N.A. increased its stake in Arista Networks by 6.9% during the third quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock worth $160,000 after acquiring an additional 27 shares during the last quarter. Intellectus Partners LLC raised its holdings in Arista Networks by 1.4% in the 3rd quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock valued at $740,000 after buying an additional 27 shares during the period. First Affirmative Financial Network lifted its position in Arista Networks by 4.3% in the third quarter. First Affirmative Financial Network now owns 682 shares of the technology company’s stock valued at $262,000 after buying an additional 28 shares during the last quarter. Altman Advisors Inc. increased its position in shares of Arista Networks by 0.5% during the third quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock valued at $2,250,000 after acquiring an additional 28 shares during the last quarter. Finally, Everpar Advisors LLC raised its stake in shares of Arista Networks by 1.5% in the 3rd quarter. Everpar Advisors LLC now owns 1,907 shares of the technology company’s stock valued at $732,000 after acquiring an additional 29 shares during the period. 82.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ANET shares. Rosenblatt Securities increased their price target on shares of Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a report on Friday, November 8th. Piper Sandler reaffirmed a “neutral” rating and issued a $105.25 price target (up from $86.25) on shares of Arista Networks in a report on Friday, November 8th. Barclays decreased their price objective on Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. StockNews.com cut Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Finally, Morgan Stanley upped their price objective on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Arista Networks has a consensus rating of “Moderate Buy” and a consensus price target of $102.42.

Arista Networks Company Profile

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.