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Arista Networks, Inc. (NYSE:ANET – Get Rating) SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction dated Monday, December 12th. The stock was sold at an average price of $128.40, for a total value of $2,568,000.00. Following the completion of the transaction, the senior vice president now owns 3,244 shares in the company, valued at approximately $416,529.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Kenneth Duda also recently made the following trade(s):
- On Thursday, November 10th, Kenneth Duda sold 20,000 shares of Arista Networks stock. The stock was sold at an average price of $127.38, for a total value of $2,547,600.00.
- On Monday, October 10th, Kenneth Duda sold 20,000 shares of Arista Networks stock. The stock was sold at an average price of $109.30, for a total transaction of $2,186,000.00.
Arista Networks Stock Down 1.5 %
ANET stock traded down $2.03 during trading on Wednesday, reaching $130.99. 2,148,486 shares of the company’s stock were exchanged, compared to its average volume of 2,082,367. Arista Networks, Inc. has a 1-year low of $89.11 and a 1-year high of $148.57. The firm has a market cap of $40.03 billion, a PE ratio of 36.25, a P/E/G ratio of 1.92 and a beta of 1.28. The company’s fifty day moving average price is $123.75 and its 200-day moving average price is $115.17.
Arista Networks (NYSE:ANET – Get Rating) last announced its earnings results on Monday, October 31st. The technology company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.21. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.06 billion. Arista Networks had a net margin of 29.63% and a return on equity of 27.23%. Arista Networks’s revenue was up 57.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 EPS. As a group, sell-side analysts expect that Arista Networks, Inc. will post 3.8 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of research analysts have commented on the stock. Bank of America upgraded shares of Arista Networks from an “underperform” rating to a “buy” rating and increased their price objective for the company from $105.00 to $150.00 in a research note on Tuesday, November 1st. Credit Suisse Group lifted their price target on Arista Networks from $119.00 to $140.00 and gave the stock a “neutral” rating in a research note on Monday, November 7th. Deutsche Bank Aktiengesellschaft upped their price objective on Arista Networks from $135.00 to $140.00 in a research note on Thursday, November 3rd. Rosenblatt Securities lifted their target price on Arista Networks from $160.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday, November 21st. Finally, Morgan Stanley upped their price target on Arista Networks from $115.00 to $130.00 and gave the company an “equal weight” rating in a research report on Monday, November 7th. Five equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $168.26.
Institutional Investors Weigh In On Arista Networks
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew 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 worth $593,287,000 after purchasing an additional 4,317,550 shares during the last quarter. Capital Research Global Investors boosted its stake in shares of Arista Networks by 66.2% during the 1st quarter. Capital Research Global Investors now owns 4,492,195 shares of the technology company’s stock worth $624,325,000 after acquiring an additional 1,788,816 shares in the last quarter. Nuveen Asset Management LLC grew its holdings 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 worth $262,148,000 after acquiring an additional 935,484 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Arista Networks by 3.0% during the third quarter. Vanguard Group Inc. now owns 26,507,053 shares of the technology company’s stock worth $2,992,380,000 after purchasing an additional 770,172 shares during the period. Finally, BlackRock Inc. boosted its position in shares of Arista Networks by 4.3% in the 3rd quarter. BlackRock Inc. now owns 18,454,815 shares of the technology company’s stock valued at $2,083,367,000 after purchasing an additional 755,445 shares during the period. Institutional investors own 63.82% of the company’s stock.
About Arista Networks
(Get Rating)
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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