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 business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the completion of the sale, the senior vice president now directly owns 12,976 shares in the company, valued at $1,405,171.04. This trade represents a 86.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 shares were 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 stock was sold at an average price of $98.67, for a total transaction of $7,893,800.00.

Arista Networks Price Performance

Shares of NYSE ANET traded down $1.12 during midday trading on Tuesday, hitting $104.80. The stock had a trading volume of 4,593,901 shares, compared to its average volume of 8,865,639. The firm has a market cap of $132.02 billion, a P/E ratio of 50.38, a price-to-earnings-growth ratio of 3.24 and a beta of 1.10. Arista Networks, Inc. has a fifty-two week low of $55.67 and a fifty-two week high of $110.74. The company’s 50-day simple moving average is $100.27 and its 200 day simple moving average is $90.41.

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

Wall Street Analysts Forecast Growth

ANET has been the topic of a number of recent research reports. Citigroup lifted their price objective on Arista Networks from $96.25 to $115.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Rosenblatt Securities upped their price target on Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a research report on Friday, November 8th. UBS Group increased their price objective on Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research note on Friday, November 8th. StockNews.com upgraded shares of Arista Networks from a “hold” rating to a “buy” rating in a research note on Wednesday, December 4th. Finally, Piper Sandler reissued a “neutral” rating and set a $105.25 price target (up from $86.25) on shares of Arista Networks in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $98.88.

Hedge Funds Weigh In On Arista Networks

Several large investors have recently bought and sold shares of ANET. Beacon Capital Management LLC lifted its stake in shares of Arista Networks by 500.0% in the 2nd quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after purchasing an additional 65 shares during the period. LGT Financial Advisors LLC acquired a new position in Arista Networks in the second quarter valued at about $27,000. Byrne Asset Management LLC bought a new position in Arista Networks during the second quarter worth about $33,000. Brown Lisle Cummings Inc. acquired a new position in shares of Arista Networks during the 2nd quarter worth about $35,000. Finally, Anchor Investment Management LLC bought a new stake in shares of Arista Networks in the 2nd quarter valued at about $35,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

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.