Arista Networks (NYSE:ANET) Insider Kenneth Duda Sells 32,000 Shares

Arista Networks, Inc. (NYSE:ANET) insider Kenneth Duda sold 32,000 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $142.44, for a total value of $4,558,080.00. Following the transaction, the insider directly owned 12,976 shares in the company, valued at approximately $1,848,301.44. This represents a 71.15% decrease in their position. The transaction 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 Tuesday, February 17th, Kenneth Duda sold 26,000 shares of Arista Networks stock. The shares were sold at an average price of $142.35, for a total value of $3,701,100.00.
• On Tuesday, January 20th, Kenneth Duda sold 26,000 shares of Arista Networks stock. The shares were sold at an average price of $128.43, for a total value of $3,339,180.00.
• On Tuesday, January 20th, Kenneth Duda sold 30,000 shares of Arista Networks stock. The stock was sold at an average price of $128.43, for a total value of $3,852,900.00.
• On Wednesday, December 17th, Kenneth Duda sold 26,000 shares of Arista Networks stock. The stock was sold at an average price of $123.16, for a total transaction of $3,202,160.00.
• On Wednesday, December 17th, Kenneth Duda sold 30,000 shares of Arista Networks stock. The stock was sold at an average price of $123.16, for a total transaction of $3,694,800.00.

Arista Networks Stock Performance

Shares of Arista Networks stock traded down $2.57 during trading hours on Thursday, reaching $136.97. The company’s stock had a trading volume of 5,254,714 shares, compared to its average volume of 9,536,634. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $164.94. The company’s 50 day simple moving average is $133.75 and its 200 day simple moving average is $137.42. The stock has a market cap of $172.11 billion, a P/E ratio of 49.63, a price-to-earnings-growth ratio of 2.35 and a beta of 1.42.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Thursday, February 12th. The technology company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.07. Arista Networks had a net margin of 38.99% and a return on equity of 30.37%. The business had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter in the prior year, the firm earned $0.66 EPS. The company’s revenue for the quarter was up 28.9% compared to the same quarter last year. On average, sell-side analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Arista Networks by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 101,189,629 shares of the technology company’s stock valued at $13,258,877,000 after purchasing an additional 1,188,799 shares in the last quarter. State Street Corp raised its stake in shares of Arista Networks by 1.4% in the 4th quarter. State Street Corp now owns 46,970,697 shares of the technology company’s stock worth $6,154,570,000 after buying an additional 628,146 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Arista Networks by 1.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 37,171,766 shares of the technology company’s stock valued at $4,870,618,000 after buying an additional 380,724 shares during the period. Geode Capital Management LLC boosted its stake in Arista Networks by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 26,447,629 shares of the technology company’s stock valued at $3,455,095,000 after buying an additional 477,625 shares in the last quarter. Finally, Cresset Asset Management LLC grew its holdings in Arista Networks by 1.0% during the second quarter. Cresset Asset Management LLC now owns 26,374,373 shares of the technology company’s stock worth $2,698,362,000 after acquiring an additional 263,272 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ANET shares. Needham & Company LLC raised their price target on Arista Networks from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, February 13th. Erste Group Bank cut Arista Networks from a “buy” rating to a “hold” rating in a research note on Monday, November 10th. UBS Group reissued a “buy” rating and set a $177.00 price target on shares of Arista Networks in a report on Friday, February 13th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $188.00 price objective (up previously from $165.00) on shares of Arista Networks in a report on Friday, February 13th. Finally, Evercore reissued an “outperform” rating and set a $200.00 target price on shares of Arista Networks in a research note on Friday, February 13th. Seventeen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $175.44.

Arista Networks Company Profile

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.