Kenneth Duda Sells 3,500 Shares of Arista Networks, Inc. (NYSE:ANET) Stock

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Arista Networks logoArista Networks, Inc. (NYSE:ANET – Get Rating) SVP Kenneth Duda sold 3,500 shares of Arista Networks stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $140.63, for a total transaction of $492,205.00. Following the transaction, the senior vice president now owns 230,100 shares in the company, valued at $32,358,963. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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

  • On Monday, April 10th, Kenneth Duda sold 20,000 shares of Arista Networks stock. The stock was sold at an average price of $161.52, for a total transaction of $3,230,400.00.
  • On Tuesday, March 14th, Kenneth Duda sold 3,500 shares of Arista Networks stock. The stock was sold at an average price of $151.64, for a total transaction of $530,740.00.
  • On Friday, March 10th, Kenneth Duda sold 20,000 shares of Arista Networks stock. The stock was sold at an average price of $147.33, for a total transaction of $2,946,600.00.

Arista Networks Stock Performance

Arista Networks stock opened at $138.63 on Friday. The business’s 50-day simple moving average is $155.48 and its 200-day simple moving average is $137.35. The firm has a market capitalization of $42.74 billion, a PE ratio of 28.88, a PEG ratio of 1.76 and a beta of 1.26. Arista Networks, Inc. has a 52 week low of $89.11 and a 52 week high of $171.44.

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Arista Networks (NYSE:ANET – Get Rating) last posted its quarterly earnings data on Monday, May 1st. The technology company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.31 billion. Arista Networks had a return on equity of 31.33% and a net margin of 31.24%. The firm’s revenue for the quarter was up 54.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.78 earnings per share. Research analysts forecast that Arista Networks, Inc. will post 5.2 earnings per share for the current year.

Institutional Investors Weigh In On Arista Networks

A number of institutional investors have recently added to or reduced their stakes in ANET. Trifecta Capital Advisors LLC acquired a new stake in Arista Networks during the fourth quarter worth about $27,000. TFC Financial Management Inc. grew its position in Arista Networks by 131.0% during the first quarter. TFC Financial Management Inc. now owns 194 shares of the technology company’s stock worth $33,000 after buying an additional 110 shares in the last quarter. TCI Wealth Advisors Inc. grew its position in Arista Networks by 126.7% during the fourth quarter. TCI Wealth Advisors Inc. now owns 297 shares of the technology company’s stock worth $36,000 after buying an additional 166 shares in the last quarter. Close Asset Management Ltd acquired a new stake in Arista Networks during the first quarter worth about $43,000. Finally, McIlrath & Eck LLC grew its position in Arista Networks by 139.6% during the first quarter. McIlrath & Eck LLC now owns 254 shares of the technology company’s stock worth $43,000 after buying an additional 148 shares in the last quarter. 64.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on ANET. Wells Fargo & Company lifted their target price on shares of Arista Networks from $170.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, March 22nd. Morgan Stanley lifted their target price on shares of Arista Networks from $140.00 to $150.00 and gave the company an “equal weight” rating in a research note on Friday, April 14th. JMP Securities lifted their target price on shares of Arista Networks from $135.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, February 14th. Loop Capital lifted their target price on shares of Arista Networks from $181.00 to $188.00 and gave the company a “buy” rating in a research note on Tuesday, February 14th. Finally, Piper Sandler lifted their target price on shares of Arista Networks from $162.00 to $166.00 in a research note on Tuesday, May 2nd. Five research 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $173.85.

Arista Networks Company Profile

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Arista Networks, Inc is engaged in the business of developing, marketing, and selling cloud networking solutions. The firm is also involved in switching and routing platforms and related network applications. The company was founded by Andreas Bechtolsheim, David Cheriton, and Kenneth Duda in November 2004 and is headquartered in Santa Clara, CA.

Insider Buying and Selling by Quarter for Arista Networks (NYSE:ANET)

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