Kenneth Duda Sells 80,000 Shares of Arista Networks, Inc. (NYSE:ANET) Stock

Arista Networks, Inc. (NYSE:ANET) SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $84.85, for a total value of $6,788,000.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at $1,101,013.60. The trade was a 86.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Thursday, February 6th, Kenneth Duda sold 80,000 shares of Arista Networks stock. The shares were sold at an average price of $115.61, for a total value of $9,248,800.00.
• On Monday, January 6th, Kenneth Duda sold 80,000 shares of Arista Networks stock. The stock was sold at an average price of $118.47, for a total value of $9,477,600.00.

Arista Networks Stock Down 7.0 %

Shares of NYSE ANET traded down $5.83 during midday trading on Monday, reaching $77.53. 15,798,118 shares of the company were exchanged, compared to its average volume of 8,734,648. The stock’s 50-day moving average price is $108.24 and its 200-day moving average price is $102.10. The stock has a market cap of $97.77 billion, a P/E ratio of 34.92, a PEG ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.58.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The firm had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. On average, equities research analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current year.

Hedge Funds Weigh In On Arista Networks

Hedge funds have recently modified their holdings of the business. Stock Yards Bank & Trust Co. bought a new stake in Arista Networks in the fourth quarter valued at approximately $242,000. GHE LLC increased its position in shares of Arista Networks by 319.0% during the fourth quarter. GHE LLC now owns 28,368 shares of the technology company’s stock worth $3,136,000 after buying an additional 21,597 shares during the period. Colonial River Investments LLC raised its stake in Arista Networks by 327.6% during the fourth quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock worth $1,077,000 after buying an additional 7,466 shares during the last quarter. Unified Investment Management acquired a new position in Arista Networks in the fourth quarter valued at $630,000. Finally, Silver Oak Securities Incorporated boosted its position in Arista Networks by 395.8% during the fourth quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company’s stock valued at $2,072,000 after acquiring an additional 14,843 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Rosenblatt Securities reaffirmed a “sell” rating and set a $80.00 price target on shares of Arista Networks in a research report on Tuesday, February 18th. Evercore ISI raised their target price on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Needham & Company LLC reiterated a “buy” rating and issued a $145.00 price target on shares of Arista Networks in a research note on Wednesday, February 19th. The Goldman Sachs Group restated a “buy” rating on shares of Arista Networks in a research note on Monday, March 3rd. Finally, Wells Fargo & Company reiterated an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $114.00.

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.