Arista Networks, Inc. (NYSE:ANET) SVP Kenneth Duda Sells 80,000 Shares

Arista Networks, Inc. (NYSE:ANET) SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction on Monday, January 6th. The stock was sold at an average price of $118.47, for a total value of $9,477,600.00. Following the completion of the sale, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at $1,537,266.72. The trade was a 86.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Friday, December 6th, Kenneth Duda sold 80,000 shares of Arista Networks stock. The shares were sold at an average price of $108.29, for a total value of $8,663,200.00.
• On Wednesday, November 6th, Kenneth Duda sold 80,000 shares of Arista Networks stock. The stock was sold at an average price of $105.09, for a total transaction of $8,407,200.00.

Arista Networks Stock Performance

NYSE ANET opened at $115.76 on Friday. The stock has a 50 day moving average price of $106.16 and a 200-day moving average price of $95.69. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $120.28. The company has a market capitalization of $145.83 billion, a P/E ratio of 55.65, a P/E/G ratio of 3.21 and a beta of 1.08.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Thursday, November 7th. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same period last year, the company posted $0.41 EPS. The business’s revenue was up 20.0% on a year-over-year basis. As a group, equities analysts predict that Arista Networks, Inc. will post 1.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ANET has been the topic of several recent research reports. Wells Fargo & Company increased their price target on shares of Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. StockNews.com downgraded Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Evercore ISI upped their price target on Arista Networks from $100.00 to $106.25 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Barclays lowered their price target on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. Finally, Morgan Stanley increased their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.42.

Institutional Investors Weigh In On Arista Networks

Several large investors have recently added to or reduced their stakes in ANET. State Street Corp boosted its holdings in shares of Arista Networks by 3.8% in the 3rd quarter. State Street Corp now owns 11,237,635 shares of the technology company’s stock worth $4,313,229,000 after purchasing an additional 411,109 shares during the period. Geode Capital Management LLC boosted its stake in Arista Networks by 4.2% during the third quarter. Geode Capital Management LLC now owns 5,871,481 shares of the technology company’s stock worth $2,246,705,000 after buying an additional 236,151 shares during the period. Wellington Management Group LLP raised its stake in shares of Arista Networks by 22.7% in the third quarter. Wellington Management Group LLP now owns 2,660,695 shares of the technology company’s stock valued at $1,021,228,000 after acquiring an additional 492,615 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Arista Networks by 4.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,283,573 shares of the technology company’s stock worth $876,481,000 after acquiring an additional 99,790 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Arista Networks by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 2,195,733 shares of the technology company’s stock worth $769,560,000 after purchasing an additional 20,278 shares during the period. 82.47% of the stock is owned by institutional investors.

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.