Arista Networks (NYSE:ANET) Insider Sells $4,558,080.00 in Stock

Arista Networks, Inc. (NYSE:ANET) insider Kenneth Duda sold 32,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $142.44, for a total value of $4,558,080.00. Following the completion of the transaction, the insider directly owned 12,976 shares of the company’s stock, valued at $1,848,301.44. The trade was a 71.15% decrease in their ownership of the stock. 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 Tuesday, February 17th, Kenneth Duda sold 26,000 shares of Arista Networks stock. The stock was sold at an average price of $142.35, for a total value of $3,701,100.00.
• On Tuesday, January 20th, Kenneth Duda sold 26,000 shares of Arista Networks stock. The shares were sold at an average price of $128.43, for a total value of $3,339,180.00.
• On Tuesday, January 20th, Kenneth Duda sold 30,000 shares of Arista Networks stock. The stock was sold at an average price of $128.43, for a total value of $3,852,900.00.
• On Wednesday, December 17th, Kenneth Duda sold 26,000 shares of Arista Networks stock. The shares were sold at an average price of $123.16, for a total transaction of $3,202,160.00.
• On Wednesday, December 17th, Kenneth Duda sold 30,000 shares of Arista Networks stock. The stock was sold at an average price of $123.16, for a total value of $3,694,800.00.

Arista Networks Stock Performance

ANET stock traded down $2.57 on Thursday, reaching $136.97. The company had a trading volume of 5,254,714 shares, compared to its average volume of 9,536,634. The company’s fifty day moving average is $133.75 and its 200 day moving average is $137.42. The company has a market cap of $172.11 billion, a P/E ratio of 49.63, a PEG ratio of 2.35 and a beta of 1.42. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $164.94.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Thursday, February 12th. The technology company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.07. Arista Networks had a return on equity of 30.37% and a net margin of 38.99%.The company had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter last year, the business posted $0.66 earnings per share. Arista Networks’s revenue was up 28.9% compared to the same quarter last year. On average, sell-side analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Institutional Investors Weigh In On Arista Networks

A number of hedge funds have recently bought and sold shares of ANET. AdvisorNet Financial Inc increased its stake in shares of Arista Networks by 56.7% in the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after buying an additional 72 shares during the last quarter. Knuff & Co LLC acquired a new position in Arista Networks during the 3rd quarter worth $29,000. Board of the Pension Protection Fund bought a new stake in shares of Arista Networks in the 4th quarter worth about $26,000. Prosperity Bancshares Inc bought a new stake in shares of Arista Networks in the 4th quarter worth about $28,000. Finally, Richardson Financial Services Inc. raised its stake in shares of Arista Networks by 141.3% in the 3rd quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock valued at $32,000 after purchasing an additional 130 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ANET. Piper Sandler reiterated an “overweight” rating and set a $175.00 target price (up from $159.00) on shares of Arista Networks in a research report on Friday, February 13th. Rosenblatt Securities lifted their target price on shares of Arista Networks from $140.00 to $165.00 and gave the company a “neutral” rating in a report on Tuesday, February 10th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Arista Networks in a report on Monday, December 29th. Morgan Stanley reissued an “overweight” rating and issued a $165.00 price objective on shares of Arista Networks in a research report on Friday, February 13th. Finally, Needham & Company LLC upped their target price on Arista Networks from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. Seventeen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Arista Networks presently has an average rating of “Moderate Buy” and a consensus price target of $175.44.

Arista Networks Company Profile

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.