Arista Networks, Inc. (NYSE:ANET) SVP Sells $5,118,800.00 in Stock

Arista Networks, Inc. (NYSE:ANET) SVP Kenneth Duda sold 40,000 shares of the company’s stock in a transaction dated Monday, January 10th. The shares were sold at an average price of $127.97, for a total transaction of $5,118,800.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

  • On Friday, December 10th, Kenneth Duda sold 40,000 shares of Arista Networks stock. The shares were sold at an average price of $130.00, for a total transaction of $5,200,000.00.
  • On Wednesday, November 10th, Kenneth Duda sold 106 shares of Arista Networks stock. The shares were sold at an average price of $533.41, for a total transaction of $56,541.46.

Arista Networks stock opened at $129.74 on Friday. The firm has a market cap of $39.87 billion, a PE ratio of 52.63, a price-to-earnings-growth ratio of 2.68 and a beta of 1.19. Arista Networks, Inc. has a 52-week low of $65.52 and a 52-week high of $148.57. The company’s 50 day moving average is $140.34 and its two-hundred day moving average is $110.20.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Monday, November 1st. The technology company reported $0.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.06. Arista Networks had a net margin of 28.30% and a return on equity of 20.36%. The business had revenue of $748.70 million for the quarter, compared to analyst estimates of $738.13 million. During the same period last year, the business earned $0.54 EPS. The company’s revenue was up 23.7% on a year-over-year basis. Analysts predict that Arista Networks, Inc. will post 2.13 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in ANET. HighTower Advisors LLC raised its holdings in shares of Arista Networks by 9.9% in the 2nd quarter. HighTower Advisors LLC now owns 1,755 shares of the technology company’s stock valued at $639,000 after purchasing an additional 158 shares in the last quarter. Belpointe Asset Management LLC raised its holdings in shares of Arista Networks by 35.1% in the 2nd quarter. Belpointe Asset Management LLC now owns 836 shares of the technology company’s stock valued at $302,000 after purchasing an additional 217 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Arista Networks by 13.7% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 10,572 shares of the technology company’s stock valued at $3,830,000 after purchasing an additional 1,271 shares in the last quarter. Rafferty Asset Management LLC raised its holdings in shares of Arista Networks by 3.4% in the 2nd quarter. Rafferty Asset Management LLC now owns 11,009 shares of the technology company’s stock valued at $3,989,000 after purchasing an additional 358 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its holdings in shares of Arista Networks by 3.4% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 74,929 shares of the technology company’s stock valued at $27,148,000 after purchasing an additional 2,452 shares in the last quarter. Institutional investors and hedge funds own 15.51% of the company’s stock.

Several analysts have recently weighed in on ANET shares. Citigroup increased their price target on shares of Arista Networks from $123.00 to $150.00 and gave the company a “neutral” rating in a research note on Wednesday, December 22nd. Piper Sandler increased their price target on shares of Arista Networks from $94.75 to $125.00 and gave the company a “neutral” rating in a research note on Tuesday, November 2nd. Cleveland Research raised shares of Arista Networks from a “neutral” rating to a “buy” rating in a research note on Friday, December 17th. Zacks Investment Research raised shares of Arista Networks from a “hold” rating to a “buy” rating and set a $137.50 price objective for the company in a research report on Friday, November 5th. Finally, Credit Suisse Group increased their price objective on shares of Arista Networks from $102.50 to $127.25 and gave the stock an “outperform” rating in a research report on Tuesday, November 2nd. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $122.56.

About Arista Networks

Arista Networks, Inc engages in the development, marketing, and sale of cloud networking solutions. Its cloud networking solutions consist of Extensible Operating System(EOS) a set of network applications and Ethernet switching, and routing platforms. The company was founded by Andreas Bechtolsheim, David Cheriton, and Kenneth Duda in October 2004 and is headquartered in Santa Clara, CA.

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Insider Buying and Selling by Quarter for Arista Networks (NYSE:ANET)

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