Arista Networks, Inc. (NYSE:ANET) SVP Kenneth Duda Sells 20,000 Shares of Stock

Posted by Defense World Staff on Mar 15th, 2023

Arista Networks, Inc. (NYSE:ANET – Get Rating) SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, March 10th. The stock was sold at an average price of $147.33, for a total transaction of $2,946,600.00. Following the sale, the senior vice president now owns 3,244 shares of the company’s stock, valued at $477,938.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

On Friday, February 10th, Kenneth Duda sold 20,000 shares of Arista Networks stock. The shares were sold at an average price of $133.58, for a total transaction of $2,671,600.00.
On Tuesday, January 10th, Kenneth Duda sold 20,000 shares of Arista Networks stock. The shares were sold at an average price of $114.69, for a total transaction of $2,293,800.00.

Arista Networks Trading Up 4.3 %

Shares of ANET stock opened at $153.15 on Wednesday. The firm has a market capitalization of $46.92 billion, a P/E ratio of 35.87, a price-to-earnings-growth ratio of 2.01 and a beta of 1.24. The firm’s fifty day simple moving average is $130.34 and its 200 day simple moving average is $124.66. Arista Networks, Inc. has a 1 year low of $89.11 and a 1 year high of $153.25.

Arista Networks (NYSE:ANET – Get Rating) last announced its quarterly earnings results on Monday, February 13th. The technology company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.20. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.20 billion. Arista Networks had a net margin of 30.87% and a return on equity of 30.00%. The business’s revenue for the quarter was up 54.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 EPS. Equities research analysts anticipate that Arista Networks, Inc. will post 5.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Arista Networks

Several institutional investors and hedge funds have recently bought and sold shares of the business. First Republic Investment Management Inc. boosted its stake in shares of Arista Networks by 2,389.3% in the 4th quarter. First Republic Investment Management Inc. now owns 12,400,805 shares of the technology company’s stock valued at $1,504,838,000 after purchasing an additional 11,902,638 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Arista Networks by 460.4% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 5,255,432 shares of the technology company’s stock valued at $593,287,000 after purchasing an additional 4,317,550 shares in the last quarter. Morgan Stanley boosted its stake in shares of Arista Networks by 162.2% in the 4th quarter. Morgan Stanley now owns 5,549,335 shares of the technology company’s stock valued at $673,412,000 after purchasing an additional 3,432,952 shares in the last quarter. Norges Bank acquired a new stake in shares of Arista Networks in the 4th quarter valued at $308,885,000. Finally, Nuveen Asset Management LLC boosted its stake in shares of Arista Networks by 67.5% in the 3rd quarter. Nuveen Asset Management LLC now owns 2,322,156 shares of the technology company’s stock valued at $262,148,000 after purchasing an additional 935,484 shares in the last quarter. Institutional investors own 64.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ANET shares. Rosenblatt Securities reiterated a “buy” rating and issued a $175.00 target price on shares of Arista Networks in a research note on Tuesday, February 14th. Barclays lifted their target price on shares of Arista Networks from $165.00 to $177.00 and gave the company an “overweight” rating in a research note on Tuesday, February 14th. Wells Fargo & Company lifted their price target on shares of Arista Networks from $160.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, February 14th. Credit Suisse Group lifted their price target on shares of Arista Networks from $140.00 to $146.00 and gave the company a “neutral” rating in a research report on Tuesday, February 14th. Finally, Morgan Stanley lifted their price target on shares of Arista Networks from $130.00 to $140.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 14th. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Arista Networks presently has an average rating of “Moderate Buy” and a consensus target price of $173.89.

About Arista Networks

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Arista Networks, Inc engages in the business of developing, marketing, and selling cloud networking solutions. The firm is also involved in switching and routing platforms and related network applications. The company was founded by Andreas Bechtolsheim, David Cheriton, and Kenneth Duda in November 2004 and is headquartered in Santa Clara, CA.