Arista Networks, Inc. (NYSE:ANET) SVP Sells $2,186,000.00 in Stock

Arista Networks, Inc. (NYSE:ANET – Get Rating) SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction dated Monday, October 10th. The stock was sold at an average price of $109.30, for a total value of $2,186,000.00. Following the transaction, the senior vice president now owns 3,244 shares of the company’s stock, valued at $354,569.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Monday, September 12th, Kenneth Duda sold 20,000 shares of Arista Networks stock. The stock was sold at an average price of $125.03, for a total value of $2,500,600.00.
• On Wednesday, August 10th, Kenneth Duda sold 20,000 shares of Arista Networks stock. The stock was sold at an average price of $125.67, for a total value of $2,513,400.00.

Arista Networks Trading Up 0.3%

ANET opened at $103.91 on Friday. Arista Networks, Inc. has a 1-year low of $89.11 and a 1-year high of $148.57. The stock’s fifty day simple moving average is $119.64 and its 200 day simple moving average is $113.17. The stock has a market cap of $31.62 billion, a PE ratio of 32.05, a price-to-earnings-growth ratio of 1.97 and a beta of 1.29.

Arista Networks (NYSE:ANET – Get Rating) last posted its quarterly earnings results on Monday, August 1st. The technology company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.20. Arista Networks had a return on equity of 24.03% and a net margin of 29.55%. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $979.66 million. During the same quarter in the prior year, the business earned $0.56 EPS. The firm’s revenue for the quarter was up 48.7% on a year-over-year basis. Equities analysts forecast that Arista Networks, Inc. will post 3.53 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Park Avenue Securities LLC grew its holdings in Arista Networks by 9.6% in the 1st quarter. Park Avenue Securities LLC now owns 3,672 shares of the technology company’s stock valued at $510,000 after buying an additional 322 shares in the last quarter. Prospera Financial Services Inc acquired a new position in Arista Networks in the 1st quarter valued at $101,000. Quadrant Capital Group LLC boosted its stake in shares of Arista Networks by 44.7% in the first quarter. Quadrant Capital Group LLC now owns 1,448 shares of the technology company’s stock valued at $201,000 after buying an additional 447 shares during the period. Robeco Institutional Asset Management BV grew its position in Arista Networks by 26.8% during the second quarter. Robeco Institutional Asset Management BV now owns 292,806 shares of the technology company’s stock worth $27,447,000 after buying an additional 61,942 shares in the last quarter. Finally, Mutual of America Capital Management LLC increased its stake in Arista Networks by 1.1% during the 1st quarter. Mutual of America Capital Management LLC now owns 29,939 shares of the technology company’s stock worth $4,161,000 after acquiring an additional 319 shares during the period. 63.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on ANET. Deutsche Bank Aktiengesellschaft assumed coverage on Arista Networks in a research report on Wednesday, August 24th. They set a “hold” rating and a $135.00 target price for the company. Citigroup boosted their price objective on Arista Networks from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Tuesday, August 2nd. Bank of America lowered Arista Networks from a “buy” rating to an “underperform” rating and decreased their price objective for the company from $140.00 to $105.00 in a research report on Wednesday, July 20th. Evercore ISI boosted their price objective on Arista Networks from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, August 2nd. Finally, Morgan Stanley decreased their price objective on Arista Networks from $125.00 to $115.00 and set an “equal weight” rating for the company in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $155.90.

About Arista Networks

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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.

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