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 firm’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $290.05, for a total transaction of $5,801,000.00. Following the completion of the sale, the senior vice president now owns 3,244 shares of the company’s stock, valued at $940,922.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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 Stock Performance

NYSE:ANET traded down $25.15 during midday trading on Friday, reaching $271.43. 5,747,439 shares of the stock traded hands, compared to its average volume of 2,436,959. The company has a fifty day moving average of $281.81 and a 200 day moving average of $241.33. Arista Networks, Inc. has a 12 month low of $131.68 and a 12 month high of $307.74. The stock has a market capitalization of $84.86 billion, a P/E ratio of 41.74, a PEG ratio of 2.49 and a beta of 1.09.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. NBC Securities Inc. increased its stake in shares of Arista Networks by 21.5% in the 1st quarter. NBC Securities Inc. now owns 215 shares of the technology company’s stock worth $62,000 after acquiring an additional 38 shares in the last quarter. BOKF NA increased its stake in shares of Arista Networks by 0.6% in the 4th quarter. BOKF NA now owns 6,900 shares of the technology company’s stock worth $1,625,000 after acquiring an additional 38 shares in the last quarter. Sandy Spring Bank grew its position in Arista Networks by 33.6% during the 4th quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock valued at $37,000 after purchasing an additional 39 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Arista Networks by 6.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 694 shares of the technology company’s stock valued at $163,000 after purchasing an additional 39 shares during the last quarter. Finally, Harbour Investments Inc. grew its position in Arista Networks by 31.0% during the 4th quarter. Harbour Investments Inc. now owns 165 shares of the technology company’s stock valued at $39,000 after purchasing an additional 39 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on ANET shares. Barclays boosted their price target on shares of Arista Networks from $272.00 to $311.00 and gave the stock an “overweight” rating in a report on Tuesday, February 13th. JPMorgan Chase & Co. boosted their price target on shares of Arista Networks from $297.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday. The Goldman Sachs Group boosted their price objective on shares of Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. JMP Securities reaffirmed a “market outperform” rating and set a $325.00 price objective on shares of Arista Networks in a research note on Tuesday, February 13th. Finally, Melius raised shares of Arista Networks from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $275.59.

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.