Insider Selling: Arista Networks, Inc. (NYSE:ANET) SVP Sells 20,000 Shares of Stock

Arista Networks, Inc. (NYSE:ANET) SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $420.36, for a total transaction of $8,407,200.00. Following the completion of the transaction, the senior vice president now owns 3,244 shares in the company, valued at approximately $1,363,647.84. This represents a 0.00 % 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 Monday, October 7th, Kenneth Duda sold 20,000 shares of Arista Networks stock. The shares were sold at an average price of $394.69, for a total value of $7,893,800.00.
• On Friday, September 6th, Kenneth Duda sold 1,689 shares of Arista Networks stock. The stock was sold at an average price of $321.28, for a total value of $542,641.92.
• On Monday, August 26th, Kenneth Duda sold 1,592 shares of Arista Networks stock. The shares were sold at an average price of $349.55, for a total transaction of $556,483.60.

Arista Networks Stock Down 7.1 %

Arista Networks stock traded down $30.78 during midday trading on Friday, reaching $400.24. 6,322,620 shares of the stock traded hands, compared to its average volume of 2,213,104. Arista Networks, Inc. has a 12 month low of $203.19 and a 12 month high of $431.97. The stock’s fifty day moving average is $382.60 and its 200-day moving average is $344.17. The stock has a market cap of $125.74 billion, a P/E ratio of 51.91, a PEG ratio of 3.48 and a beta of 1.08.

Arista Networks’s stock is scheduled to split on Wednesday, December 4th. The 4-1 split was announced on Thursday, November 7th. The newly issued shares will be distributed to shareholders after the closing bell on Tuesday, December 3rd.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ANET shares. Needham & Company LLC restated a “buy” rating and set a $375.00 price objective on shares of Arista Networks in a research report on Wednesday, July 31st. The Goldman Sachs Group increased their target price on Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Barclays upped their price target on shares of Arista Networks from $341.00 to $495.00 and gave the company an “overweight” rating in a research report on Friday. Jefferies Financial Group boosted their target price on shares of Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Rosenblatt Securities lifted their price target on shares of Arista Networks from $265.00 to $320.00 and gave the stock a “sell” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $395.19.

Hedge Funds Weigh In On Arista Networks

Institutional investors and hedge funds have recently modified their holdings of the stock. Beacon Capital Management LLC boosted its position in shares of Arista Networks by 500.0% during the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after buying an additional 65 shares during the period. LGT Financial Advisors LLC purchased a new stake in Arista Networks in the second quarter worth $27,000. Byrne Asset Management LLC bought a new stake in shares of Arista Networks during the second quarter worth $33,000. Sugarloaf Wealth Management LLC purchased a new stake in shares of Arista Networks during the second quarter valued at $35,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Arista Networks in the second quarter worth about $35,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

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.