Arista Networks, Inc. (NYSE:ANET – Get Rating) SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, December 12th. The shares were sold at an average price of $128.40, for a total value of $2,568,000.00. Following the sale, the senior vice president now owns 3,244 shares in the company, valued at $416,529.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Kenneth Duda also recently made the following trade(s):
- On Thursday, November 10th, Kenneth Duda sold 20,000 shares of Arista Networks stock. The shares were 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 shares were sold at an average price of $109.30, for a total value of $2,186,000.00.
Arista Networks Stock Down 4.1 %
Arista Networks stock opened at $125.58 on Friday. The business’s 50-day simple moving average is $124.01 and its 200-day simple moving average is $115.35. The stock has a market cap of $38.37 billion, a price-to-earnings ratio of 34.22, a P/E/G ratio of 1.92 and a beta of 1.28. Arista Networks, Inc. has a 12-month low of $89.11 and a 12-month high of $148.57.
Arista Networks (NYSE:ANET – Get Rating) last posted its quarterly earnings results on Monday, October 31st. The technology company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.21. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Arista Networks had a return on equity of 27.23% and a net margin of 29.63%. The firm’s quarterly revenue was up 57.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.60 earnings per share. As a group, sell-side analysts expect that Arista Networks, Inc. will post 3.8 EPS for the current year.
Hedge Funds Weigh In On Arista Networks
Several hedge funds have recently added to or reduced their stakes in ANET. Cerity Partners LLC boosted its holdings in Arista Networks by 17.0% during the second quarter. Cerity Partners LLC now owns 4,097 shares of the technology company’s stock worth $385,000 after buying an additional 594 shares during the last quarter. Woodline Partners LP bought a new position in Arista Networks during the second quarter worth about $11,896,000. Robeco Institutional Asset Management BV boosted its holdings in Arista Networks by 26.8% during the second quarter. Robeco Institutional Asset Management BV now owns 292,806 shares of the technology company’s stock worth $27,447,000 after buying an additional 61,942 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Arista Networks by 14.8% during the second quarter. Franklin Resources Inc. now owns 1,216,489 shares of the technology company’s stock worth $114,033,000 after buying an additional 156,665 shares during the last quarter. Finally, Crossmark Global Holdings Inc. boosted its holdings in Arista Networks by 162.9% during the first quarter. Crossmark Global Holdings Inc. now owns 33,577 shares of the technology company’s stock worth $4,667,000 after buying an additional 20,803 shares during the last quarter. Institutional investors own 63.82% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on ANET shares. Deutsche Bank Aktiengesellschaft boosted their price objective on Arista Networks from $135.00 to $140.00 in a research report on Thursday, November 3rd. Piper Sandler raised Arista Networks from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $126.00 to $164.00 in a research note on Friday, November 4th. Bank of America raised Arista Networks from an “underperform” rating to a “buy” rating and boosted their price target for the company from $105.00 to $150.00 in a research note on Tuesday, November 1st. Rosenblatt Securities boosted their price target on Arista Networks from $160.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, November 21st. Finally, KeyCorp decreased their price target on Arista Networks from $170.00 to $161.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 1st. Five research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $168.26.
Arista Networks Company Profile
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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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