Arista Networks, Inc. (NYSE:ANET) SVP Sells $9,477,600.00 in Stock

Arista Networks, Inc. (NYSE:ANET) SVP Kenneth Duda sold 80,000 shares of the company’s 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 sale, the senior vice president now owns 12,976 shares of the company’s stock, valued at approximately $1,537,266.72. This represents a 86.04 % decrease in their position. The transaction 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 stock was 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 value of $8,407,200.00.

Arista Networks Stock Down 0.9 %

ANET stock opened at $114.46 on Friday. The company’s 50-day simple moving average is $106.48 and its 200-day simple moving average is $95.91. Arista Networks, Inc. has a 52-week low of $60.08 and a 52-week high of $120.28. The firm has a market cap of $144.19 billion, a P/E ratio of 55.03, a PEG ratio of 3.21 and a beta of 1.08.

Arista Networks (NYSE:ANET) last posted its earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $1.76 billion. During the same period in the prior year, the company posted $0.41 EPS. The company’s revenue for the quarter was up 20.0% on a year-over-year basis. On average, analysts anticipate that Arista Networks, Inc. will post 1.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GW Henssler & Associates Ltd. lifted its stake in Arista Networks by 3.6% in the 3rd quarter. GW Henssler & Associates Ltd. now owns 63,244 shares of the technology company’s stock valued at $24,274,000 after buying an additional 2,219 shares in the last quarter. Deepwater Asset Management LLC purchased a new position in Arista Networks in the 2nd quarter valued at about $15,084,000. Sumitomo Life Insurance Co. lifted its stake in Arista Networks by 69.8% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 9,028 shares of the technology company’s stock valued at $3,465,000 after buying an additional 3,711 shares in the last quarter. Walkner Condon Financial Advisors LLC purchased a new position in Arista Networks in the 3rd quarter valued at about $2,318,000. Finally, Greenleaf Trust lifted its stake in Arista Networks by 20.1% in the 3rd quarter. Greenleaf Trust now owns 13,224 shares of the technology company’s stock valued at $5,076,000 after buying an additional 2,216 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ANET shares. UBS Group upped their target price on Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a research report on Friday, November 8th. Wells Fargo & Company upped their target price on Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Evercore ISI upped their target price on Arista Networks from $100.00 to $106.25 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Citigroup upped their target price on Arista Networks from $96.25 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, StockNews.com downgraded Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and an average price target of $102.42.

Arista Networks Company Profile

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.