Arista Networks (NYSE:ANET) Insider Kenneth Duda Sells 30,000 Shares

Arista Networks, Inc. (NYSE:ANET) insider Kenneth Duda sold 30,000 shares of Arista Networks stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $128.43, for a total value of $3,852,900.00. Following the completion of the sale, the insider directly owned 12,976 shares in the company, valued at approximately $1,666,507.68. The trade was a 69.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Tuesday, January 20th, Kenneth Duda sold 26,000 shares of Arista Networks stock. The stock was sold at an average price of $128.43, for a total transaction of $3,339,180.00.
• On Wednesday, December 17th, Kenneth Duda sold 26,000 shares of Arista Networks stock. The stock was sold at an average price of $123.16, for a total value of $3,202,160.00.
• On Wednesday, December 17th, Kenneth Duda sold 30,000 shares of Arista Networks stock. The shares were sold at an average price of $123.16, for a total value of $3,694,800.00.
• On Monday, November 17th, Kenneth Duda sold 26,000 shares of Arista Networks stock. The shares were sold at an average price of $128.61, for a total value of $3,343,860.00.
• On Monday, November 17th, Kenneth Duda sold 30,000 shares of Arista Networks stock. The shares were sold at an average price of $128.61, for a total transaction of $3,858,300.00.

Arista Networks Price Performance

Shares of Arista Networks stock traded up $11.12 during trading on Thursday, hitting $138.41. The stock had a trading volume of 14,902,833 shares, compared to its average volume of 8,177,890. The stock has a market cap of $174.30 billion, a PE ratio of 52.63, a PEG ratio of 2.15 and a beta of 1.41. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $164.94. The firm’s fifty day simple moving average is $128.35 and its 200-day simple moving average is $133.43.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.03. The business had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.26 billion. Arista Networks had a net margin of 39.73% and a return on equity of 30.28%. The firm’s quarterly revenue was up 27.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.40 earnings per share. Analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Brighton Jones LLC increased its holdings in Arista Networks by 321.7% in the fourth quarter. Brighton Jones LLC now owns 7,806 shares of the technology company’s stock valued at $863,000 after buying an additional 5,955 shares in the last quarter. Revolve Wealth Partners LLC acquired a new stake in Arista Networks in the fourth quarter valued at approximately $202,000. Bison Wealth LLC purchased a new stake in shares of Arista Networks in the fourth quarter valued at approximately $251,000. Sivia Capital Partners LLC raised its stake in shares of Arista Networks by 48.4% during the 2nd quarter. Sivia Capital Partners LLC now owns 10,723 shares of the technology company’s stock worth $1,097,000 after buying an additional 3,496 shares during the period. Finally, Wedge Capital Management L L P NC purchased a new position in shares of Arista Networks during the 2nd quarter valued at approximately $212,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Analyst Upgrades and Downgrades

ANET has been the topic of a number of research reports. BNP Paribas Exane raised shares of Arista Networks from a “hold” rating to an “outperform” rating in a research report on Thursday, September 25th. Zacks Research lowered Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Erste Group Bank lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Monday, November 10th. UBS Group reissued a “buy” rating and set a $155.00 target price on shares of Arista Networks in a research report on Wednesday, December 3rd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Arista Networks in a research report on Monday, December 29th. Seventeen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $164.44.

Arista Networks Company Profile

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.