Arista Networks, Inc. (ANET) SVP Kenneth Duda Sells 8,827 Shares
Arista Networks, Inc. (NYSE:ANET) SVP Kenneth Duda sold 8,827 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $168.06, for a total value of $1,483,465.62. Following the completion of the sale, the senior vice president now owns 1,202 shares of the company’s stock, valued at $202,008.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
Kenneth Duda also recently made the following trade(s):
- 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 value of $1,503,274.47.
- On Friday, June 9th, Kenneth Duda sold 9,539 shares of Arista Networks stock. The shares were sold at an average price of $156.19, for a total value of $1,489,896.41.
Shares of Arista Networks, Inc. (ANET) traded down 1.65% during trading on Thursday, reaching $164.70. The company’s stock had a trading volume of 1,491,725 shares. The stock has a market cap of $11.95 billion, a P/E ratio of 42.50 and a beta of 1.33. Arista Networks, Inc. has a 12-month low of $73.82 and a 12-month high of $176.50. The stock’s 50-day moving average is $154.88 and its 200-day moving average is $135.91.
Arista Networks (NYSE:ANET) last announced its earnings results 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. The business had revenue of $405.21 million during the quarter, compared to analyst estimates of $361.02 million. Arista Networks had a net margin of 21.74% and a return on equity of 22.64%. The company’s quarterly revenue was up 50.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.74 EPS. Equities research analysts anticipate that Arista Networks, Inc. will post $4.61 earnings per share for the current fiscal year.
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Several analysts recently issued reports on the company. UBS AG boosted their price target on Arista Networks from $120.00 to $150.00 and gave the company a “neutral” rating in a research note on Wednesday, May 31st. Argus restated a “buy” rating on shares of Arista Networks in a research note on Monday. Stifel Nicolaus restated a “hold” rating and issued a $165.00 price target (up from $145.00) on shares of Arista Networks in a research note on Wednesday. Jefferies Group LLC restated a “hold” rating and issued a $145.00 price target (up from $120.00) on shares of Arista Networks in a research note on Wednesday. Finally, William Blair upgraded Arista Networks from a “market perform” rating to an “outperform” rating in a research note on Friday, August 4th. Sixteen equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Arista Networks presently has a consensus rating of “Buy” and a consensus target price of $153.32.
A number of large investors have recently made changes to their positions in ANET. Creative Planning raised its stake in shares of Arista Networks by 855.0% in the first quarter. Creative Planning now owns 11,880 shares of the technology company’s stock worth $1,571,000 after buying an additional 10,636 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Arista Networks by 7,327.6% in the first quarter. Bank of Montreal Can now owns 22,357 shares of the technology company’s stock worth $2,957,000 after buying an additional 22,056 shares in the last quarter. Prentiss Smith & Co. Inc. bought a new stake in shares of Arista Networks during the first quarter worth $7,711,000. Affinity Wealth Management bought a new stake in shares of Arista Networks during the first quarter worth $256,000. Finally, First United Bank Trust raised its stake in shares of Arista Networks by 29.3% in the first quarter. First United Bank Trust now owns 6,350 shares of the technology company’s stock worth $840,000 after buying an additional 1,440 shares in the last quarter. Institutional investors and hedge funds own 60.84% of the company’s stock.
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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