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

by · The Cerbat Gem

Arista Networks, Inc. (NYSE:ANET – Get Free Report) SVP Kenneth Duda sold 80,000 shares of the stock in a transaction on 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 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 represents a 86.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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 transaction 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 Price Performance

Shares of ANET stock traded up $0.47 during trading hours on Wednesday, reaching $115.76. The company had a trading volume of 5,371,953 shares, 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 firm has a market cap of $145.83 billion, a price-to-earnings ratio of 55.65, a P/E/G ratio of 3.21 and a beta of 1.08. The company has a 50 day moving average of $105.78 and a 200 day moving average of $95.55.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ANET. Fulton Bank N.A. increased its stake in Arista Networks by 310.1% in the 4th quarter. Fulton Bank N.A. now owns 21,569 shares of the technology company’s stock valued at $2,384,000 after buying an additional 16,310 shares during the last quarter. Range Financial Group LLC increased its position in shares of Arista Networks by 1,599.0% in the fourth quarter. Range Financial Group LLC now owns 43,562 shares of the technology company’s stock valued at $4,815,000 after acquiring an additional 40,998 shares during the last quarter. Rise Advisors LLC raised its holdings in Arista Networks by 132.0% during the fourth quarter. Rise Advisors LLC now owns 775 shares of the technology company’s stock worth $86,000 after acquiring an additional 441 shares in the last quarter. Diversified Trust Co grew its stake in Arista Networks by 440.5% in the fourth quarter. Diversified Trust Co now owns 27,880 shares of the technology company’s stock valued at $3,082,000 after purchasing an additional 22,722 shares in the last quarter. Finally, Horizons Wealth Management increased its position in shares of Arista Networks by 300.0% during the 4th quarter. Horizons Wealth Management now owns 800 shares of the technology company’s stock worth $88,000 after purchasing an additional 600 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ANET. The Goldman Sachs Group upped their price target on Arista Networks from $97.50 to $107.50 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Evercore ISI lifted their price target on shares of Arista Networks from $100.00 to $106.25 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Rosenblatt Securities upped their price objective on shares of Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a research note on Friday, November 8th. StockNews.com cut shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Finally, Barclays decreased their price target on Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $100.70.

Get Our Latest Analysis on ANET

Arista Networks Company Profile

(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.

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