Arista Networks Inc (NYSE:ANET) SVP Sells $2,950,007.46 in Stock

Arista Networks Inc (NYSE:ANET) SVP Kenneth Duda sold 10,874 shares of the stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $271.29, for a total transaction of $2,950,007.46. Following the completion of the transaction, the senior vice president now owns 1,971 shares in the company, valued at $534,712.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

  • On Monday, June 10th, Kenneth Duda sold 10,876 shares of Arista Networks stock. The stock was sold at an average price of $251.38, for a total transaction of $2,734,008.88.
  • On Friday, May 10th, Kenneth Duda sold 10,874 shares of Arista Networks stock. The stock was sold at an average price of $263.37, for a total transaction of $2,863,885.38.

ANET traded up $2.36 during trading on Friday, hitting $274.26. 456,575 shares of the company traded hands, compared to its average volume of 925,834. The company has a market cap of $20.96 billion, a P/E ratio of 38.79, a PEG ratio of 1.71 and a beta of 1.56. The stock has a 50-day moving average price of $253.78. Arista Networks Inc has a 1 year low of $187.08 and a 1 year high of $331.27. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.70 and a current ratio of 5.34.

Arista Networks (NYSE:ANET) last posted its earnings results on Thursday, May 2nd. The technology company reported $2.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.07 by $0.24. The company had revenue of $595.42 million during the quarter, compared to analysts’ expectations of $595.21 million. Arista Networks had a net margin of 30.36% and a return on equity of 29.36%. Arista Networks’s quarterly revenue was up 26.0% on a year-over-year basis. During the same period last year, the company posted $1.66 earnings per share. Analysts anticipate that Arista Networks Inc will post 8.4 earnings per share for the current fiscal year.

Several research firms have weighed in on ANET. Credit Suisse Group reiterated a “hold” rating and issued a $32.00 price target on shares of CRH in a research report on Thursday, April 25th. Needham & Company LLC downgraded shares of Silicom from a “buy” rating to a “hold” rating in a research report on Monday, April 29th. ValuEngine upgraded shares of ZIX from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 4th. Rosenblatt Securities began coverage on shares of Arista Networks in a research report on Friday, March 29th. They issued a “neutral” rating and a $330.00 price target on the stock. Finally, MKM Partners increased their price target on shares of Arista Networks to $295.00 and gave the stock a “neutral” rating in a research report on Monday, May 6th. Nine analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Arista Networks currently has an average rating of “Buy” and a consensus target price of $311.96.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Xact Kapitalforvaltning AB grew its stake in Arista Networks by 10.0% during the second quarter. Xact Kapitalforvaltning AB now owns 11,412 shares of the technology company’s stock valued at $2,963,000 after acquiring an additional 1,042 shares in the last quarter. Harbour Capital Advisors LLC grew its stake in Arista Networks by 67.2% during the second quarter. Harbour Capital Advisors LLC now owns 4,206 shares of the technology company’s stock valued at $1,092,000 after acquiring an additional 1,690 shares in the last quarter. Campbell & CO Investment Adviser LLC grew its stake in Arista Networks by 5.9% during the second quarter. Campbell & CO Investment Adviser LLC now owns 1,445 shares of the technology company’s stock valued at $375,000 after acquiring an additional 80 shares in the last quarter. Argus Investors Counsel Inc. grew its stake in Arista Networks by 97.0% during the second quarter. Argus Investors Counsel Inc. now owns 2,984 shares of the technology company’s stock valued at $775,000 after acquiring an additional 1,469 shares in the last quarter. Finally, Valeo Financial Advisors LLC grew its stake in Arista Networks by 24.2% during the second quarter. Valeo Financial Advisors LLC now owns 190 shares of the technology company’s stock valued at $49,000 after acquiring an additional 37 shares in the last quarter. 57.94% of the stock is owned by institutional investors.

About Arista Networks

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, including universal leaf, spline, and universal spine products.

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