Arista Networks (NYSE:ANET) Insider Kenneth Duda Sells 30,000 Shares

Arista Networks, Inc. (NYSE:ANET) insider Kenneth Duda sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $123.16, for a total transaction of $3,694,800.00. Following the completion of the transaction, the insider owned 12,976 shares of the company’s stock, valued at approximately $1,598,124.16. The trade was a 69.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• 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 Monday, November 17th, Kenneth Duda sold 26,000 shares of Arista Networks stock. The stock was sold at an average price of $128.61, for a total value of $3,343,860.00.
• On Monday, November 17th, Kenneth Duda sold 30,000 shares of Arista Networks stock. The stock was sold at an average price of $128.61, for a total value of $3,858,300.00.
• On Friday, October 17th, Kenneth Duda sold 26,000 shares of Arista Networks stock. The shares were sold at an average price of $142.75, for a total transaction of $3,711,500.00.
• On Friday, October 17th, Kenneth Duda sold 30,000 shares of Arista Networks stock. The stock was sold at an average price of $142.75, for a total value of $4,282,500.00.

Arista Networks Stock Up 5.4%

ANET stock traded up $6.67 on Friday, reaching $131.29. 12,481,789 shares of the company’s stock were exchanged, compared to its average volume of 6,656,424. The stock has a fifty day moving average of $136.73 and a 200-day moving average of $127.42. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $164.94. The firm has a market cap of $165.33 billion, a PE ratio of 49.92, a P/E/G ratio of 2.39 and a beta of 1.41.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. Arista Networks had a net margin of 39.73% and a return on equity of 30.28%. The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the previous year, the business posted $2.40 EPS. The firm’s revenue was up 27.5% compared to the same quarter last year. On average, equities research analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Arista Networks

Several hedge funds have recently bought and sold shares of ANET. AdvisorNet Financial Inc boosted its holdings in shares of Arista Networks by 56.7% during the 3rd quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after buying an additional 72 shares during the period. Knuff & Co LLC purchased a new stake in Arista Networks in the 3rd quarter valued at $29,000. Richardson Financial Services Inc. raised its position in Arista Networks by 141.3% in the third quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock worth $32,000 after acquiring an additional 130 shares during the period. Quarry LP purchased a new stake in shares of Arista Networks during the third quarter worth $33,000. Finally, Bare Financial Services Inc grew its holdings in shares of Arista Networks by 2,118.2% during the second quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock worth $25,000 after purchasing an additional 233 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Melius Research boosted their target price on Arista Networks from $160.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $140.00 price target on shares of Arista Networks in a research note on Monday, November 24th. Zacks Research cut Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. UBS Group reissued a “buy” rating and issued a $155.00 price target on shares of Arista Networks in a research note on Wednesday, December 3rd. Finally, William Blair reaffirmed an “outperform” rating on shares of Arista Networks in a report on Friday, September 12th. Seventeen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Arista Networks has a consensus rating of “Moderate Buy” and an average target price of $163.56.

About Arista Networks

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.