Arista Networks, Inc. (NYSE:ANET) SVP Kenneth Duda Sells 11,310 Shares of Stock

Arista Networks, Inc. (NYSE:ANET) SVP Kenneth Duda sold 11,310 shares of the stock in a transaction on Friday, January 8th. The stock was sold at an average price of $300.18, for a total value of $3,395,035.80. Following the transaction, the senior vice president now owns 18,695 shares of the company’s stock, valued at $5,611,865.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, January 11th, Kenneth Duda sold 10,000 shares of Arista Networks stock. The shares were sold at an average price of $302.75, for a total value of $3,027,500.00.
• On Thursday, December 10th, Kenneth Duda sold 10,000 shares of Arista Networks stock. The shares were sold at an average price of $276.20, for a total value of $2,762,000.00.
• On Tuesday, November 10th, Kenneth Duda sold 10,000 shares of Arista Networks stock. The shares were sold at an average price of $258.68, for a total value of $2,586,800.00.

Shares of ANET opened at $309.63 on Thursday. Arista Networks, Inc. has a 1 year low of $156.63 and a 1 year high of $316.89. The stock has a market cap of $23.43 billion, a P/E ratio of 34.67, a price-to-earnings-growth ratio of 3.78 and a beta of 1.21. The stock’s 50-day moving average price is $284.58 and its two-hundred day moving average price is $240.05.

Arista Networks (NYSE:ANET) last issued its earnings results on Monday, November 2nd. The technology company reported $2.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.22 by $0.20. Arista Networks had a return on equity of 20.37% and a net margin of 32.06%. The firm had revenue of $605.40 million for the quarter, compared to analysts’ expectations of $581.55 million. During the same quarter last year, the business earned $2.69 earnings per share. The company’s revenue was down 7.5% compared to the same quarter last year. Equities analysts expect that Arista Networks, Inc. will post 7.66 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the business. CIBC Asset Management Inc boosted its holdings in Arista Networks by 2.1% during the third quarter. CIBC Asset Management Inc now owns 5,664 shares of the technology company’s stock worth $1,172,000 after buying an additional 117 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Arista Networks by 343.7% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 314,526 shares of the technology company’s stock valued at $66,059,000 after purchasing an additional 243,635 shares in the last quarter. Toronto Dominion Bank lifted its holdings in shares of Arista Networks by 5.1% during the 3rd quarter. Toronto Dominion Bank now owns 28,959 shares of the technology company’s stock valued at $5,993,000 after purchasing an additional 1,395 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Arista Networks by 1.9% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 3,334 shares of the technology company’s stock valued at $689,000 after purchasing an additional 63 shares in the last quarter. Finally, Independent Advisor Alliance bought a new position in shares of Arista Networks during the 3rd quarter valued at about $5,919,000. Hedge funds and other institutional investors own 61.75% of the company’s stock.

A number of analysts have recently weighed in on the company. Bank of America upgraded Arista Networks from a “neutral” rating to a “buy” rating and set a $270.00 target price for the company in a research note on Tuesday, November 3rd. JPMorgan Chase & Co. upgraded Arista Networks from a “neutral” rating to an “overweight” rating and set a $275.00 target price for the company in a research note on Thursday, October 8th. MKM Partners upgraded Arista Networks from a “neutral” rating to a “buy” rating and set a $225.00 target price for the company in a research note on Friday, October 30th. Smith Barney Citigroup raised their target price on Arista Networks from $240.00 to $290.00 in a research note on Monday, December 21st. Finally, Rosenblatt Securities upgraded Arista Networks from a “neutral” rating to a “buy” rating in a research note on Wednesday. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $262.64.

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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