Insider Selling: Arista Networks, Inc. (NYSE:ANET) SVP Sells 1,689 Shares of Stock

Arista Networks, Inc. (NYSE:ANET) SVP Kenneth Duda sold 1,689 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $321.28, for a total value of $542,641.92. Following the completion of the transaction, the senior vice president now owns 182,600 shares in the company, valued at approximately $58,665,728. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, August 26th, Kenneth Duda sold 1,592 shares of Arista Networks stock. The shares were sold at an average price of $349.55, for a total transaction of $556,483.60.
• On Monday, July 8th, Kenneth Duda sold 20,000 shares of Arista Networks stock. The shares were sold at an average price of $370.70, for a total transaction of $7,414,000.00.
• On Thursday, June 13th, Kenneth Duda sold 20,000 shares of Arista Networks stock. The shares were sold at an average price of $325.88, for a total transaction of $6,517,600.00.

Arista Networks Trading Up 0.7 %

NYSE:ANET traded up $2.13 on Tuesday, hitting $326.90. 1,149,644 shares of the company’s stock traded hands, compared to its average volume of 2,348,444. The firm has a 50-day moving average price of $342.45 and a 200-day moving average price of $311.82. The company has a market cap of $102.70 billion, a PE ratio of 45.51, a price-to-earnings-growth ratio of 2.48 and a beta of 1.07. Arista Networks, Inc. has a 1 year low of $168.25 and a 1 year high of $376.50.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.38. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The company had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter last year, the business posted $1.41 EPS. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, research analysts forecast that Arista Networks, Inc. will post 7.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Arista Networks

A number of hedge funds have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC acquired a new stake in Arista Networks in the second quarter valued at approximately $9,858,000. NCP Inc. acquired a new stake in shares of Arista Networks in the 2nd quarter valued at $105,000. Kestra Investment Management LLC bought a new stake in Arista Networks in the second quarter worth $707,000. Clearbridge Investments LLC increased its position in Arista Networks by 2.0% during the second quarter. Clearbridge Investments LLC now owns 344,222 shares of the technology company’s stock worth $120,643,000 after buying an additional 6,638 shares during the last quarter. Finally, Dana Investment Advisors Inc. raised its holdings in Arista Networks by 3.4% during the second quarter. Dana Investment Advisors Inc. now owns 3,195 shares of the technology company’s stock valued at $1,120,000 after buying an additional 105 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analysts Set New Price Targets

ANET has been the subject of several recent analyst reports. Citigroup increased their price target on Arista Networks from $330.00 to $385.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Morgan Stanley boosted their price target on shares of Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday, July 18th. Wells Fargo & Company increased their price objective on shares of Arista Networks from $340.00 to $390.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. UBS Group boosted their target price on Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Finally, Jefferies Financial Group upped their target price on Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $358.63.

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.