Kenneth Duda Sells 8,687 Shares of Arista Networks, Inc. (ANET) Stock
Arista Networks, Inc. (NYSE:ANET) SVP Kenneth Duda sold 8,687 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $174.94, for a total transaction of $1,519,703.78. Following the transaction, the senior vice president now directly owns 1,593 shares of the company’s stock, valued at approximately $278,679.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Kenneth Duda also recently made the following trade(s):
- On Wednesday, August 9th, Kenneth Duda sold 8,827 shares of Arista Networks stock. The shares were sold at an average price of $168.06, for a total transaction of $1,483,465.62.
- On Monday, July 10th, Kenneth Duda sold 10,083 shares of Arista Networks stock. The shares were sold at an average price of $149.09, for a total transaction of $1,503,274.47.
Shares of Arista Networks, Inc. (ANET) opened at 174.89 on Thursday. The stock has a market cap of $12.68 billion, a PE ratio of 45.13 and a beta of 1.30. Arista Networks, Inc. has a 52-week low of $78.82 and a 52-week high of $179.71. The company’s 50-day moving average is $167.57 and its 200-day moving average is $148.17.
Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Thursday, August 3rd. The technology company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.15. Arista Networks had a net margin of 21.74% and a return on equity of 22.64%. The firm had revenue of $405.21 million during the quarter, compared to analysts’ expectations of $361.02 million. During the same quarter in the previous year, the business posted $0.74 earnings per share. The business’s quarterly revenue was up 50.8% compared to the same quarter last year. Equities analysts anticipate that Arista Networks, Inc. will post $4.69 EPS for the current year.
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A number of institutional investors have recently modified their holdings of the stock. Achmea Investment Management B.V. purchased a new position in Arista Networks in the second quarter worth approximately $314,000. Navellier & Associates Inc lifted its stake in Arista Networks by 98.8% in the second quarter. Navellier & Associates Inc now owns 67,115 shares of the technology company’s stock worth $10,053,000 after acquiring an additional 33,355 shares during the last quarter. Advisory Services Network LLC lifted its stake in Arista Networks by 609.5% in the second quarter. Advisory Services Network LLC now owns 1,568 shares of the technology company’s stock worth $235,000 after acquiring an additional 1,347 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in Arista Networks by 44.6% in the second quarter. Public Employees Retirement System of Ohio now owns 22,121 shares of the technology company’s stock worth $3,314,000 after acquiring an additional 6,823 shares during the last quarter. Finally, Koch Industries Inc. purchased a new position in Arista Networks in the second quarter worth approximately $592,000. Institutional investors own 59.40% of the company’s stock.
A number of equities research analysts have commented on the stock. Zacks Investment Research downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Deutsche Bank AG set a $156.00 target price on shares of Arista Networks and gave the stock a “buy” rating in a research report on Saturday, May 27th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $140.00 target price on shares of Arista Networks in a research report on Saturday, June 3rd. Needham & Company LLC reaffirmed a “buy” rating on shares of Arista Networks in a research report on Saturday, June 3rd. Finally, Barclays PLC lifted their target price on shares of Arista Networks from $185.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, August 4th. They noted that the move was a valuation call. Sixteen equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $155.29.
About Arista Networks
Arista Networks, Inc is a supplier of cloud networking solutions that use software innovations to address the needs of Internet companies, cloud service providers and data centers for enterprise support. It develops, markets and sells cloud networking solutions, which consist of its Gigabit Ethernet switches and related software.
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