Kenneth Duda Sells 10,874 Shares of Arista Networks Inc (NYSE:ANET) Stock

Arista Networks Inc (NYSE:ANET) SVP Kenneth Duda sold 10,874 shares of the company’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $271.29, for a total transaction of $2,950,007.46. Following the transaction, the senior vice president now directly owns 1,971 shares of the company’s stock, valued at $534,712.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

  • On Monday, June 10th, Kenneth Duda sold 10,876 shares of Arista Networks stock. The shares were sold at an average price of $251.38, for a total transaction of $2,734,008.88.
  • On Friday, May 10th, Kenneth Duda sold 10,874 shares of Arista Networks stock. The shares were sold at an average price of $263.37, for a total transaction of $2,863,885.38.

Shares of NYSE ANET traded up $2.36 during midday trading on Friday, hitting $274.26. 456,575 shares of the company traded hands, compared to its average volume of 925,834. Arista Networks Inc has a 12-month low of $187.08 and a 12-month high of $331.27. The company has a current ratio of 5.34, a quick ratio of 4.70 and a debt-to-equity ratio of 0.04. The firm has a 50-day moving average of $253.78. The company has a market capitalization of $20.96 billion, a price-to-earnings ratio of 38.79, a P/E/G ratio of 1.71 and a beta of 1.56.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Thursday, May 2nd. The technology company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $0.24. Arista Networks had a net margin of 30.36% and a return on equity of 29.36%. The company had revenue of $595.42 million for the quarter, compared to analysts’ expectations of $595.21 million. During the same quarter in the previous year, the company earned $1.66 earnings per share. Arista Networks’s quarterly revenue was up 26.0% on a year-over-year basis. Sell-side analysts predict that Arista Networks Inc will post 8.4 earnings per share for the current year.

ANET has been the subject of several recent analyst reports. ValuEngine raised shares of ZIX from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 4th. Nomura upped their price objective on shares of PROS from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Macquarie set a $325.00 price objective on shares of Arista Networks and gave the company a “buy” rating in a research note on Friday, May 3rd. Needham & Company LLC downgraded shares of Silicom from a “buy” rating to a “hold” rating in a research note on Monday, April 29th. Finally, MKM Partners upped their price objective on shares of Arista Networks to $295.00 and gave the company a “neutral” rating in a research note on Monday, May 6th. Nine research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $311.96.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. grew its holdings in Arista Networks by 1.3% in the first quarter. BlackRock Inc. now owns 3,729,413 shares of the technology company’s stock worth $1,172,750,000 after purchasing an additional 48,254 shares during the period. FMR LLC grew its holdings in Arista Networks by 25.1% in the first quarter. FMR LLC now owns 1,956,747 shares of the technology company’s stock worth $615,319,000 after purchasing an additional 392,021 shares during the period. JPMorgan Chase & Co. grew its holdings in Arista Networks by 1.7% in the first quarter. JPMorgan Chase & Co. now owns 962,304 shares of the technology company’s stock worth $302,606,000 after purchasing an additional 15,947 shares during the period. Swedbank grew its holdings in Arista Networks by 56.2% in the second quarter. Swedbank now owns 757,942 shares of the technology company’s stock worth $196,777,000 after purchasing an additional 272,722 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Arista Networks by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 679,899 shares of the technology company’s stock worth $143,006,000 after purchasing an additional 15,438 shares during the period. Institutional investors and hedge funds own 57.94% of the company’s stock.

About Arista Networks

Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms, including universal leaf, spline, and universal spine products.

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Insider Buying and Selling by Quarter for Arista Networks (NYSE:ANET)

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