Arista Networks, Inc. (NYSE:ANET) SVP Sells $542,641.92 in Stock

Arista Networks, Inc. (NYSE:ANET) SVP Kenneth Duda sold 1,689 shares of Arista Networks stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $321.28, for a total transaction of $542,641.92. Following the completion of the transaction, the senior vice president now owns 182,600 shares of the company’s stock, valued at approximately $58,665,728. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, August 26th, Kenneth Duda sold 1,592 shares of Arista Networks stock. The shares were sold at an average price of $349.55, for a total transaction of $556,483.60.
• On Monday, July 8th, Kenneth Duda sold 20,000 shares of Arista Networks stock. The stock was sold at an average price of $370.70, for a total transaction of $7,414,000.00.
• On Thursday, June 13th, Kenneth Duda sold 20,000 shares of Arista Networks stock. The stock was sold at an average price of $325.88, for a total value of $6,517,600.00.

Arista Networks Trading Up 3.7 %

NYSE:ANET opened at $355.56 on Friday. Arista Networks, Inc. has a 12-month low of $168.25 and a 12-month high of $376.50. The stock’s 50 day simple moving average is $341.20 and its 200-day simple moving average is $312.75. The firm has a market cap of $111.42 billion, a P/E ratio of 49.52, a PEG ratio of 2.48 and a beta of 1.07.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.38. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the previous year, the company posted $1.41 EPS. Arista Networks’s revenue was up 15.9% compared to the same quarter last year. Research analysts forecast that Arista Networks, Inc. will post 7.38 EPS for the current fiscal year.

Institutional Investors Weigh In On Arista Networks

Institutional investors have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC acquired a new stake in shares of Arista Networks in the 2nd quarter valued at approximately $9,858,000. NCP Inc. acquired a new stake in Arista Networks in the second quarter valued at $105,000. Kestra Investment Management LLC purchased a new stake in shares of Arista Networks during the 2nd quarter worth $707,000. Clearbridge Investments LLC grew its stake in shares of Arista Networks by 2.0% during the 2nd quarter. Clearbridge Investments LLC now owns 344,222 shares of the technology company’s stock worth $120,643,000 after purchasing an additional 6,638 shares during the period. Finally, Dana Investment Advisors Inc. increased its holdings in shares of Arista Networks by 3.4% in the 2nd quarter. Dana Investment Advisors Inc. now owns 3,195 shares of the technology company’s stock valued at $1,120,000 after purchasing an additional 105 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ANET shares. UBS Group raised their target price on Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Needham & Company LLC reissued a “buy” rating and set a $375.00 price objective on shares of Arista Networks in a report on Wednesday, July 31st. Morgan Stanley upped their target price on shares of Arista Networks from $325.00 to $355.00 and gave the company an “overweight” rating in a report on Thursday, July 18th. Jefferies Financial Group lifted their price target on shares of Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, KeyCorp upped their price objective on shares of Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $358.63.

About Arista Networks

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.