Arista Networks, Inc. (NYSE:ANET) SVP Kenneth Duda sold 10,083 shares of the business’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $149.09, for a total value of $1,503,274.47. Following the sale, the senior vice president now directly owns 1,202 shares of the company’s stock, valued at $179,206.18. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Kenneth Duda also recently made the following trade(s):
- On Friday, June 9th, Kenneth Duda sold 9,539 shares of Arista Networks stock. The stock was sold at an average price of $156.19, for a total value of $1,489,896.41.
- On Tuesday, May 9th, Kenneth Duda sold 10,507 shares of Arista Networks stock. The stock was sold at an average price of $144.23, for a total value of $1,515,424.61.
Arista Networks, Inc. (ANET) traded down 2.19% during mid-day trading on Tuesday, hitting $169.94. The stock had a trading volume of 1,171,940 shares. The stock has a market capitalization of $12.24 billion, a P/E ratio of 54.89 and a beta of 1.33. The company’s 50 day moving average is $153.51 and its 200-day moving average is $133.84. Arista Networks, Inc. has a 52 week low of $71.84 and a 52 week high of $175.40.
Arista Networks (NYSE:ANET) last released its quarterly earnings data on Thursday, August 3rd. The technology company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.15. Arista Networks had a return on equity of 23.86% and a net margin of 21.74%. The company had revenue of $405.21 million for the quarter, compared to analyst estimates of $361.02 million. During the same period in the previous year, the company posted $0.74 EPS. The firm’s revenue for the quarter was up 50.8% compared to the same quarter last year. On average, analysts expect that Arista Networks, Inc. will post $4.52 EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in ANET. Reliance Trust Co. of Delaware acquired a new position in Arista Networks during the first quarter valued at approximately $275,000. First United Bank Trust boosted its position in Arista Networks by 29.3% in the first quarter. First United Bank Trust now owns 6,350 shares of the technology company’s stock valued at $840,000 after buying an additional 1,440 shares during the last quarter. Affinity Wealth Management acquired a new position in Arista Networks during the first quarter valued at approximately $256,000. Prentiss Smith & Co. Inc. acquired a new position in Arista Networks during the first quarter valued at approximately $7,711,000. Finally, Bank of Montreal Can boosted its position in Arista Networks by 7,327.6% in the first quarter. Bank of Montreal Can now owns 22,357 shares of the technology company’s stock valued at $2,957,000 after buying an additional 22,056 shares during the last quarter. Institutional investors own 60.84% of the company’s stock.
Several equities analysts have recently issued reports on ANET shares. CIBC restated a “buy” rating and set a $160.00 target price on shares of Arista Networks in a research report on Friday, May 5th. Oppenheimer Holdings, Inc. set a $160.00 target price on Arista Networks and gave the stock a “buy” rating in a research report on Thursday, May 4th. Cowen and Company boosted their target price on Arista Networks from $123.00 to $145.00 and gave the stock an “outperform” rating in a research report on Monday, May 15th. Zacks Investment Research lowered Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $115.00 price objective on shares of Arista Networks in a research report on Tuesday, May 2nd. Sixteen investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $149.71.
About Arista Networks
Arista Networks, Inc is a supplier of cloud networking solutions that use software innovations to address the needs of Internet companies, cloud service providers and data centers for enterprise support. It develops, markets and sells cloud networking solutions, which consist of its Gigabit Ethernet switches and related software.
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