Arista Networks, Inc. (NYSE:ANET) SVP Kenneth Duda sold 8,827 shares of the company’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $168.06, for a total transaction of $1,483,465.62. Following the completion of the transaction, the senior vice president now directly owns 1,202 shares of the company’s stock, valued at approximately $202,008.12. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Kenneth Duda also recently made the following trade(s):
- On Monday, July 10th, Kenneth Duda sold 10,083 shares of Arista Networks stock. The stock was sold at an average price of $149.09, for a total transaction of $1,503,274.47.
- On Friday, June 9th, Kenneth Duda sold 9,539 shares of Arista Networks stock. The stock was sold at an average price of $156.19, for a total transaction of $1,489,896.41.
Shares of Arista Networks, Inc. (NYSE:ANET) opened at 165.69 on Friday. Arista Networks, Inc. has a 52-week low of $75.27 and a 52-week high of $176.50. The company has a 50-day moving average of $155.27 and a 200-day moving average of $136.66. The stock has a market capitalization of $12.02 billion, a price-to-earnings ratio of 42.76 and a beta of 1.33.
Arista Networks (NYSE:ANET) last posted its earnings results on Thursday, August 3rd. The technology company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.15. The company had revenue of $405.21 million for the quarter, compared to analyst estimates of $361.02 million. Arista Networks had a net margin of 21.74% and a return on equity of 22.64%. Arista Networks’s revenue was up 50.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.74 EPS. Equities research analysts anticipate that Arista Networks, Inc. will post $4.68 EPS for the current year.
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Several research analysts recently weighed in on the stock. BMO Capital Markets reaffirmed an “outperform” rating and issued a $190.00 target price (up previously from $167.00) on shares of Arista Networks in a report on Friday, August 4th. J P Morgan Chase & Co raised shares of Arista Networks from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $144.00 to $186.00 in a report on Friday, August 4th. Argus reaffirmed a “buy” rating on shares of Arista Networks in a report on Monday, August 7th. DA Davidson downgraded shares of Arista Networks from a “buy” rating to a “neutral” rating and set a $153.00 target price for the company. in a report on Monday, May 22nd. Finally, Oppenheimer Holdings, Inc. set a $160.00 target price on shares of Arista Networks and gave the stock a “buy” rating in a report on Thursday, May 4th. Sixteen research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $153.32.
Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its position in Arista Networks by 34,238.9% in the first quarter. BlackRock Inc. now owns 1,684,322 shares of the technology company’s stock valued at $222,784,000 after buying an additional 1,679,417 shares during the last quarter. Harbour Capital Advisors LLC raised its position in Arista Networks by 13,502.2% in the second quarter. Harbour Capital Advisors LLC now owns 1,228,278 shares of the technology company’s stock valued at $8,200,000 after buying an additional 1,219,248 shares during the last quarter. FMR LLC raised its position in Arista Networks by 32.2% in the first quarter. FMR LLC now owns 3,288,755 shares of the technology company’s stock valued at $435,004,000 after buying an additional 800,465 shares during the last quarter. Vanguard Group Inc. raised its position in Arista Networks by 12.8% in the first quarter. Vanguard Group Inc. now owns 3,514,246 shares of the technology company’s stock valued at $464,830,000 after buying an additional 399,688 shares during the last quarter. Finally, Columbus Circle Investors purchased a new position in Arista Networks during the first quarter valued at $42,580,000. Institutional investors own 60.84% of the company’s stock.
About Arista Networks
Arista Networks, Inc is a supplier of cloud networking solutions that use software innovations to address the needs of Internet companies, cloud service providers and data centers for enterprise support. It develops, markets and sells cloud networking solutions, which consist of its Gigabit Ethernet switches and related software.
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