Arista Networks, Inc. (NYSE:ANET) SVP Kenneth Duda Sells 20,000 Shares

Arista Networks, Inc. (NYSE:ANET) SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $290.05, for a total transaction of $5,801,000.00. Following the transaction, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at $940,922.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, March 11th, Kenneth Duda sold 20,000 shares of Arista Networks stock. The shares were sold at an average price of $269.15, for a total transaction of $5,383,000.00.
• On Monday, February 12th, Kenneth Duda sold 20,000 shares of Arista Networks stock. The shares were sold at an average price of $284.31, for a total transaction of $5,686,200.00.

Arista Networks Price Performance

ANET stock opened at $271.22 on Friday. The company has a market capitalization of $84.79 billion, a price-to-earnings ratio of 41.28, a PEG ratio of 2.56 and a beta of 1.09. Arista Networks, Inc. has a 1-year low of $131.68 and a 1-year high of $307.74. The business has a 50 day simple moving average of $281.78 and a two-hundred day simple moving average of $242.41.

Arista Networks (NYSE:ANET) last posted its earnings results on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.38. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The company’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.25 EPS. Sell-side analysts anticipate that Arista Networks, Inc. will post 6.63 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. KeyCorp boosted their target price on shares of Arista Networks from $232.00 to $287.00 and gave the company an “overweight” rating in a research report on Thursday, January 18th. Melius upgraded Arista Networks from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. Barclays lifted their price objective on Arista Networks from $272.00 to $311.00 and gave the company an “overweight” rating in a research report on Tuesday, February 13th. Melius Research raised shares of Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a report on Monday, January 8th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Arista Networks in a report on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, Arista Networks has an average rating of “Moderate Buy” and a consensus target price of $275.59.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Financial Synergies Wealth Advisors Inc. boosted its position in shares of Arista Networks by 872.7% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock valued at $31,000 after acquiring an additional 96 shares during the last quarter. Alaska Permanent Fund Corp bought a new stake in Arista Networks in the first quarter worth $37,000. Riverview Trust Co bought a new stake in Arista Networks in the first quarter worth $40,000. Rakuten Securities Inc. bought a new stake in Arista Networks in the fourth quarter worth $35,000. Finally, Atticus Wealth Management LLC lifted its position in Arista Networks by 3,625.0% in the fourth quarter. Atticus Wealth Management LLC now owns 149 shares of the technology company’s stock worth $35,000 after buying an additional 145 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors.

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.