Arista Networks Inc. (ANET) SVP Kenneth Duda Sells 11,746 Shares
Arista Networks Inc. (NYSE:ANET) SVP Kenneth Duda sold 11,746 shares of the firm’s stock in a transaction that occurred on Monday, October 10th. The stock was sold at an average price of $86.53, for a total transaction of $1,016,381.38. Following the completion of the sale, the senior vice president now owns 420 shares in the company, valued at approximately $36,342.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Kenneth Duda also recently made the following trade(s):
- On Thursday, September 8th, Kenneth Duda sold 12,296 shares of Arista Networks stock. The stock was sold at an average price of $81.34, for a total transaction of $1,000,156.64.
- On Monday, August 8th, Kenneth Duda sold 13,938 shares of Arista Networks stock. The stock was sold at an average price of $72.20, for a total transaction of $1,006,323.60.
Shares of Arista Networks Inc. (NYSE:ANET) opened at 83.01 on Wednesday. The firm has a 50-day moving average of $82.64 and a 200-day moving average of $72.46. Arista Networks Inc. has a one year low of $52.51 and a one year high of $87.62. The company has a market capitalization of $5.75 billion, a P/E ratio of 41.30 and a beta of 1.12.
Arista Networks (NYSE:ANET) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.68 by $0.06. The business had revenue of $268.70 million for the quarter, compared to the consensus estimate of $262.98 million. Arista Networks had a net margin of 15.03% and a return on equity of 20.45%. The business’s revenue for the quarter was up 37.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.54 EPS. Analysts forecast that Arista Networks Inc. will post $2.93 earnings per share for the current year.
Several equities research analysts recently issued reports on ANET shares. Bank of America Corp. cut shares of Arista Networks from a “buy” rating to an “underperform” rating and set a $65.00 target price on the stock. in a report on Monday, June 27th. MKM Partners cut shares of Arista Networks from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $81.00 to $79.00 in a report on Monday, September 19th. BMO Capital Markets started coverage on shares of Arista Networks in a report on Thursday, August 18th. They issued an “outperform” rating and a $90.00 target price on the stock. Needham & Company LLC restated a “buy” rating and issued a $105.00 target price on shares of Arista Networks in a report on Monday, August 8th. Finally, Citigroup Inc. raised their target price on shares of Arista Networks from $62.00 to $65.00 and gave the stock a “neutral” rating in a report on Friday, August 26th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $78.79.
Several hedge funds have recently added to or reduced their stakes in the stock. Quantbot Technologies LP acquired a new stake in Arista Networks during the second quarter valued at approximately $136,000. Seven Eight Capital LLC acquired a new stake in Arista Networks during the first quarter valued at approximately $150,000. Metropolitan Life Insurance Co. NY increased its stake in Arista Networks by 16.1% in the second quarter. Metropolitan Life Insurance Co. NY now owns 2,933 shares of the company’s stock valued at $189,000 after buying an additional 406 shares during the period. Legal & General Group Plc increased its stake in Arista Networks by 3.5% in the second quarter. Legal & General Group Plc now owns 3,111 shares of the company’s stock valued at $200,000 after buying an additional 105 shares during the period. Finally, Bank of Montreal Can acquired a new stake in Arista Networks during the second quarter valued at approximately $213,000. 52.69% of the stock is currently owned by institutional investors and hedge funds.
About Arista Networks
Arista Networks, Inc is a supplier of cloud networking solutions that address the needs of Internet companies, cloud service providers and next-generation data centers for enterprises. The Company’s cloud networking solutions consist of its Extensible Operating System (EOS), which is a set of network applications and its 10/25/40/50/100 Gigabit Ethernet switches.
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