Arista Networks, Inc. (NYSE:ANET) SVP Kenneth Duda Sells 20,000 Shares

Arista Networks, Inc. (NYSE:ANET) SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $394.69, for a total transaction of $7,893,800.00. Following the completion of the transaction, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at $1,280,374.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Friday, September 6th, Kenneth Duda sold 1,689 shares of Arista Networks stock. The stock was sold at an average price of $321.28, for a total transaction of $542,641.92.
• On Monday, August 26th, Kenneth Duda sold 1,592 shares of Arista Networks stock. The stock was sold at an average price of $349.55, for a total transaction of $556,483.60.

Arista Networks Stock Performance

Shares of ANET traded up $6.70 during mid-day trading on Wednesday, reaching $406.92. The stock had a trading volume of 1,915,265 shares, compared to its average volume of 2,252,720. The firm has a market cap of $127.51 billion, a price-to-earnings ratio of 56.67, a PEG ratio of 3.04 and a beta of 1.07. Arista Networks, Inc. has a 12 month low of $168.25 and a 12 month high of $409.20. The business has a fifty day moving average of $354.75 and a 200 day moving average of $325.53.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.38. The business had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.66 billion. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The company’s revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.41 earnings per share. On average, research analysts forecast that Arista Networks, Inc. will post 7.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Arista Networks

A number of hedge funds have recently modified their holdings of the company. Benjamin Edwards Inc. bought a new position in shares of Arista Networks during the first quarter worth $26,000. Beacon Capital Management LLC boosted its position in shares of Arista Networks by 500.0% during the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock worth $27,000 after acquiring an additional 65 shares during the last quarter. LGT Financial Advisors LLC bought a new position in shares of Arista Networks during the second quarter worth $27,000. Financial Synergies Wealth Advisors Inc. boosted its position in shares of Arista Networks by 872.7% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock worth $31,000 after acquiring an additional 96 shares during the last quarter. Finally, Byrne Asset Management LLC bought a new position in shares of Arista Networks during the second quarter worth $33,000. 82.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Morgan Stanley lifted their target price on shares of Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a report on Thursday, July 18th. Evercore ISI boosted their price objective on shares of Arista Networks from $400.00 to $425.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. UBS Group boosted their price objective on shares of Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Rosenblatt Securities boosted their price objective on shares of Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a report on Wednesday, July 31st. Finally, Erste Group Bank reissued a “buy” rating on shares of Arista Networks in a report on Friday, June 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $369.50.

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.