Kenneth Duda Sells 80,000 Shares of Arista Networks, Inc. (NYSE:ANET) Stock

Arista Networks, Inc. (NYSE:ANET) SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $115.61, for a total transaction of $9,248,800.00. Following the completion of the transaction, the senior vice president now owns 12,976 shares of the company’s stock, valued at approximately $1,500,155.36. This trade represents a 86.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, January 6th, Kenneth Duda sold 80,000 shares of Arista Networks stock. The stock was sold at an average price of $118.47, for a total value of $9,477,600.00.
• On Friday, December 6th, Kenneth Duda sold 80,000 shares of Arista Networks stock. The shares were sold at an average price of $108.29, for a total value of $8,663,200.00.

Arista Networks Price Performance

ANET stock opened at $120.15 on Tuesday. The company has a market cap of $151.36 billion, a price-to-earnings ratio of 57.76, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. The company has a fifty day moving average price of $113.21 and a 200 day moving average price of $100.04. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.57.

Analysts Set New Price Targets

ANET has been the topic of several analyst reports. Evercore ISI raised their target price on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, January 17th. StockNews.com lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. UBS Group boosted their target price on shares of Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research note on Friday, November 8th. The Goldman Sachs Group raised their price target on Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Finally, Morgan Stanley upped their price objective on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.83.

Institutional Investors Weigh In On Arista Networks

Several hedge funds have recently made changes to their positions in the business. State Street Corp raised its stake in Arista Networks by 3.8% during the 3rd quarter. State Street Corp now owns 11,237,635 shares of the technology company’s stock valued at $4,313,229,000 after acquiring an additional 411,109 shares during the last quarter. Swedbank AB increased its holdings in shares of Arista Networks by 293.2% in the fourth quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock valued at $746,165,000 after purchasing an additional 5,034,022 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Arista Networks by 320.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,457,263 shares of the technology company’s stock worth $713,721,000 after purchasing an additional 4,919,882 shares during the last quarter. Amundi lifted its holdings in shares of Arista Networks by 196.3% during the fourth quarter. Amundi now owns 6,342,064 shares of the technology company’s stock worth $732,493,000 after purchasing an additional 4,201,973 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Arista Networks by 294.1% in the 4th quarter. Bank of New York Mellon Corp now owns 6,136,864 shares of the technology company’s stock valued at $678,308,000 after buying an additional 4,579,622 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

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.