Arista Networks, Inc. (NYSE:ANET) SVP Sells $9,477,600.00 in Stock

Arista Networks, Inc. (NYSE:ANET) SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction on Monday, January 6th. The stock was sold at an average price of $118.47, for a total value of $9,477,600.00. Following the transaction, the senior vice president now owns 12,976 shares in the company, valued at approximately $1,537,266.72. This represents a 86.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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 value of $8,663,200.00.
• On Wednesday, November 6th, Kenneth Duda sold 80,000 shares of Arista Networks stock. The stock was sold at an average price of $105.09, for a total value of $8,407,200.00.

Arista Networks Stock Performance

Shares of ANET opened at $114.46 on Friday. The stock has a 50-day simple moving average of $106.48 and a 200-day simple moving average of $95.91. The stock has a market capitalization of $144.19 billion, a PE ratio of 55.03, a PEG ratio of 3.21 and a beta of 1.08. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $120.28.

Arista Networks (NYSE:ANET) last posted its earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 30.52% and a net margin of 40.29%. The firm’s revenue was up 20.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.41 earnings per share. Analysts predict that Arista Networks, Inc. will post 1.96 EPS for the current year.

Institutional Investors Weigh In On Arista Networks

Institutional investors have recently added to or reduced their stakes in the business. Anchor Investment Management LLC purchased a new stake in Arista Networks during the second quarter worth approximately $35,000. MidAtlantic Capital Management Inc. purchased a new stake in Arista Networks during the third quarter worth approximately $44,000. HM Payson & Co. lifted its stake in Arista Networks by 28.2% during the third quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock worth $51,000 after purchasing an additional 29 shares during the last quarter. True Wealth Design LLC lifted its stake in Arista Networks by 2,133.3% in the third quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock valued at $51,000 after buying an additional 128 shares during the last quarter. Finally, ORG Partners LLC lifted its stake in Arista Networks by 186.0% in the third quarter. ORG Partners LLC now owns 143 shares of the technology company’s stock valued at $55,000 after buying an additional 93 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ANET. Rosenblatt Securities raised their price objective on Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a research report on Friday, November 8th. Barclays cut their price objective on Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. StockNews.com downgraded Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Piper Sandler reissued a “neutral” rating and set a $105.25 price objective (up from $86.25) on shares of Arista Networks in a research report on Friday, November 8th. Finally, Wells Fargo & Company lifted their target price on Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Arista Networks presently has an average rating of “Moderate Buy” and a consensus target price of $102.42.

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.