Kenneth Duda Sells 10,000 Shares of Arista Networks, Inc. (NYSE:ANET) Stock

Arista Networks, Inc. (NYSE:ANET) SVP Kenneth Duda sold 10,000 shares of the firm’s stock in a transaction dated Monday, April 12th. The stock was sold at an average price of $314.01, for a total value of $3,140,100.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

  • On Wednesday, March 10th, Kenneth Duda sold 10,000 shares of Arista Networks stock. The shares were sold at an average price of $275.75, for a total value of $2,757,500.00.
  • On Friday, February 19th, Kenneth Duda sold 2,555 shares of Arista Networks stock. The shares were sold at an average price of $325.29, for a total value of $831,115.95.
  • On Tuesday, February 16th, Kenneth Duda sold 3,250 shares of Arista Networks stock. The shares were sold at an average price of $325.47, for a total value of $1,057,777.50.
  • On Wednesday, February 10th, Kenneth Duda sold 10,000 shares of Arista Networks stock. The stock was sold at an average price of $317.58, for a total value of $3,175,800.00.

Shares of ANET stock traded down $1.86 during mid-day trading on Wednesday, hitting $312.47. The company’s stock had a trading volume of 215,531 shares, compared to its average volume of 586,021. The stock has a market cap of $23.85 billion, a price-to-earnings ratio of 34.99, a PEG ratio of 3.91 and a beta of 1.21. Arista Networks, Inc. has a 52-week low of $192.96 and a 52-week high of $326.60. The business has a 50-day moving average price of $292.17 and a 200 day moving average price of $277.67.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Wednesday, February 17th. The technology company reported $2.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.39 by $0.10. Arista Networks had a return on equity of 20.37% and a net margin of 32.06%. The business had revenue of $648.48 million during the quarter, compared to analyst estimates of $628.76 million. As a group, equities research analysts predict that Arista Networks, Inc. will post 7.66 EPS for the current fiscal year.

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group lifted their price objective on Arista Networks from $288.00 to $411.00 and gave the stock a “buy” rating in a research report on Thursday, February 25th. Credit Suisse Group reiterated a “buy” rating and issued a $359.00 price objective on shares of Arista Networks in a research report on Thursday, April 8th. MKM Partners lifted their price objective on Arista Networks from $273.00 to $324.00 in a research report on Thursday, January 28th. Morgan Stanley lifted their price target on Arista Networks from $320.00 to $345.00 and gave the company an “overweight” rating in a research report on Thursday, February 25th. Finally, Smith Barney Citigroup lifted their price target on Arista Networks from $240.00 to $290.00 in a research report on Monday, December 21st. Eight investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $318.29.

Large investors have recently added to or reduced their stakes in the business. Baillie Gifford & Co. bought a new stake in Arista Networks during the fourth quarter valued at about $28,000. Credit Agricole S A purchased a new stake in shares of Arista Networks in the fourth quarter worth about $29,000. Veritas Investment Partners UK Ltd. purchased a new stake in shares of Arista Networks in the fourth quarter worth about $31,000. Carroll Financial Associates Inc. purchased a new stake in shares of Arista Networks in the first quarter worth about $33,000. Finally, Neo Ivy Capital Management purchased a new stake in shares of Arista Networks in the fourth quarter worth about $40,000. 61.75% of the stock is owned by institutional investors and hedge funds.

About Arista Networks

Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms.

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