Arista Networks, Inc. (NYSE:ANET) SVP Sells $8,663,200.00 in Stock

Arista Networks, Inc. (NYSE:ANET) SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $108.29, for a total value of $8,663,200.00. Following the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at $1,405,171.04. The trade was a 86.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• 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.
• On Monday, October 7th, Kenneth Duda sold 80,000 shares of Arista Networks stock. The shares were sold at an average price of $98.67, for a total transaction of $7,893,800.00.

Arista Networks Trading Down 0.3 %

ANET stock opened at $106.90 on Friday. The company’s 50 day moving average is $100.66 and its 200 day moving average is $90.72. The stock has a market cap of $134.67 billion, a price-to-earnings ratio of 51.39, a price-to-earnings-growth ratio of 3.24 and a beta of 1.10. Arista Networks, Inc. has a 1-year low of $56.65 and a 1-year high of $110.74.

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

Analyst Upgrades and Downgrades

ANET has been the subject of several recent research reports. Rosenblatt Securities upped their price target on Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a report on Friday, November 8th. UBS Group raised their price target on shares of 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 price objective 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. Piper Sandler reissued a “neutral” rating and set a $105.25 target price (up previously from $86.25) on shares of Arista Networks in a research report on Friday, November 8th. Finally, The Goldman Sachs Group upped their target price on Arista Networks from $97.50 to $107.50 and gave the company a “buy” rating in a report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $98.88.

Institutional Trading of Arista Networks

Several hedge funds have recently added to or reduced their stakes in ANET. Zions Bancorporation N.A. increased its holdings in shares of Arista Networks by 6.9% in the third quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock worth $160,000 after buying an additional 27 shares during the period. Intellectus Partners LLC grew its position in Arista Networks by 1.4% during the 3rd quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock worth $740,000 after acquiring an additional 27 shares during the last quarter. First Affirmative Financial Network grew its position in Arista Networks by 4.3% during the 3rd quarter. First Affirmative Financial Network now owns 682 shares of the technology company’s stock worth $262,000 after acquiring an additional 28 shares during the last quarter. Altman Advisors Inc. increased its stake in Arista Networks by 0.5% in the 3rd quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock worth $2,250,000 after purchasing an additional 28 shares during the period. Finally, Everpar Advisors LLC lifted its position in Arista Networks by 1.5% in the third quarter. Everpar Advisors LLC now owns 1,907 shares of the technology company’s stock valued at $732,000 after purchasing an additional 29 shares during the last quarter. 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.