Insider Selling: Arista Networks, Inc. (ANET) SVP Sells 8,687 Shares of Stock

Arista Networks, Inc. (NYSE:ANET) SVP Kenneth Duda sold 8,687 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $174.94, for a total value of $1,519,703.78. Following the transaction, the senior vice president now owns 1,593 shares in the company, valued at approximately $278,679.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

  • On Wednesday, August 9th, Kenneth Duda sold 8,827 shares of Arista Networks stock. The stock was sold at an average price of $168.06, for a total value of $1,483,465.62.
  • On Monday, July 10th, Kenneth Duda sold 10,083 shares of Arista Networks stock. The stock was sold at an average price of $149.09, for a total value of $1,503,274.47.

Shares of Arista Networks, Inc. (NYSE ANET) traded down 0.85% during trading on Tuesday, hitting $173.82. The stock had a trading volume of 423,209 shares. The stock’s 50-day moving average price is $167.04 and its 200 day moving average price is $147.79. Arista Networks, Inc. has a one year low of $78.82 and a one year high of $179.71. The stock has a market cap of $12.61 billion, a price-to-earnings ratio of 44.86 and a beta of 1.30.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Thursday, August 3rd. The technology company reported $1.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.15. Arista Networks had a net margin of 21.74% and a return on equity of 22.64%. The firm had revenue of $405.21 million during the quarter, compared to analyst estimates of $361.02 million. During the same quarter in the prior year, the business posted $0.74 earnings per share. The company’s quarterly revenue was up 50.8% compared to the same quarter last year. On average, equities analysts forecast that Arista Networks, Inc. will post $4.69 EPS for the current year.

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ANET has been the topic of a number of analyst reports. Barclays PLC reaffirmed a “buy” rating and set a $161.00 target price on shares of Arista Networks in a research report on Monday, May 15th. BMO Capital Markets lifted their target price on Arista Networks from $145.00 to $155.00 and gave the stock an “outperform” rating in a research report on Monday, May 15th. CIBC reaffirmed a “buy” rating and set a $160.00 target price on shares of Arista Networks in a research report on Monday, May 15th. Cowen and Company lifted their target price on Arista Networks from $123.00 to $145.00 and gave the stock an “outperform” rating in a research report on Monday, May 15th. Finally, JMP Securities lifted their target price on Arista Networks from $145.00 to $155.00 and gave the stock an “outperform” rating in a research report on Monday, May 15th. Sixteen equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $155.29.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Achmea Investment Management B.V. acquired a new stake in shares of Arista Networks during the second quarter worth approximately $314,000. Navellier & Associates Inc increased its holdings in shares of Arista Networks by 98.8% during the second quarter. Navellier & Associates Inc now owns 67,115 shares of the technology company’s stock worth $10,053,000 after buying an additional 33,355 shares in the last quarter. Advisory Services Network LLC increased its holdings in shares of Arista Networks by 609.5% during the second quarter. Advisory Services Network LLC now owns 1,568 shares of the technology company’s stock worth $235,000 after buying an additional 1,347 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Arista Networks by 44.6% during the second quarter. Public Employees Retirement System of Ohio now owns 22,121 shares of the technology company’s stock worth $3,314,000 after buying an additional 6,823 shares in the last quarter. Finally, Koch Industries Inc. acquired a new stake in shares of Arista Networks during the second quarter worth approximately $592,000. 59.40% of the stock is owned by institutional investors.

About Arista Networks

Arista Networks, Inc is a supplier of cloud networking solutions that use software innovations to address the needs of Internet companies, cloud service providers and data centers for enterprise support. It develops, markets and sells cloud networking solutions, which consist of its Gigabit Ethernet switches and related software.

Insider Buying and Selling by Quarter for Arista Networks (NYSE:ANET)

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