Insider Selling: Arista Networks, Inc. (NYSE:ANET) SVP Sells 80,000 Shares of Stock

Arista Networks, Inc. (NYSE:ANET) SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $108.29, for a total value of $8,663,200.00. Following the sale, the senior vice president now owns 12,976 shares of the company’s stock, valued at $1,405,171.04. This trade represents a 86.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Wednesday, November 6th, Kenneth Duda sold 80,000 shares of Arista Networks stock. The stock was sold at an average price of $105.09, for a total transaction of $8,407,200.00.
• On Monday, October 7th, Kenneth Duda sold 80,000 shares of Arista Networks stock. The shares were sold at an average price of $98.67, for a total transaction of $7,893,800.00.

Arista Networks Price Performance

NYSE:ANET opened at $104.80 on Wednesday. Arista Networks, Inc. has a 1 year low of $55.67 and a 1 year high of $110.74. The stock’s fifty day moving average price is $100.27 and its two-hundred day moving average price is $90.41. The company has a market cap of $132.02 billion, a P/E ratio of 50.38, a P/E/G ratio of 3.24 and a beta of 1.10.

Arista Networks (NYSE:ANET) last issued its earnings results on Thursday, November 7th. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.52 by $0.08. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter last year, the company earned $0.41 EPS. The firm’s revenue was up 20.0% compared to the same quarter last year. On average, analysts expect that Arista Networks, Inc. will post 1.96 earnings per share for the current fiscal year.

Institutional Trading of Arista Networks

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Ameriprise Financial Inc. grew its position in Arista Networks by 97.2% during the second quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company’s stock worth $628,966,000 after buying an additional 884,703 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Arista Networks by 39,841.1% during the 3rd quarter. International Assets Investment Management LLC now owns 875,110 shares of the technology company’s stock valued at $3,358,850,000 after acquiring an additional 872,919 shares during the last quarter. 1832 Asset Management L.P. grew its holdings in shares of Arista Networks by 4,160.9% during the second quarter. 1832 Asset Management L.P. now owns 515,700 shares of the technology company’s stock worth $180,743,000 after purchasing an additional 503,597 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Arista Networks by 22.7% in the third quarter. Wellington Management Group LLP now owns 2,660,695 shares of the technology company’s stock worth $1,021,228,000 after purchasing an additional 492,615 shares during the last quarter. Finally, State Street Corp lifted its position in Arista Networks by 3.8% during the third quarter. State Street Corp now owns 11,237,635 shares of the technology company’s stock valued at $4,313,229,000 after purchasing an additional 411,109 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on ANET. Wells Fargo & Company increased their price objective on shares of Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Rosenblatt Securities lifted their price target on Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a report on Friday, November 8th. Citigroup upped their price objective on Arista Networks from $96.25 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. UBS Group raised their target price on Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, Evercore ISI increased their price target on shares of Arista Networks from $100.00 to $106.25 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.88.

About Arista Networks

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.