Arista Networks Inc (NYSE:ANET) SVP Kenneth Duda Sells 10,876 Shares

Arista Networks Inc (NYSE:ANET) SVP Kenneth Duda sold 10,876 shares of Arista Networks stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $251.38, for a total value of $2,734,008.88. Following the completion of the transaction, the senior vice president now directly owns 1,971 shares in the company, valued at $495,469.98. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

  • 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 value of $2,863,885.38.
  • On Wednesday, April 10th, Kenneth Duda sold 11,876 shares of Arista Networks stock. The stock was sold at an average price of $321.15, for a total value of $3,813,977.40.

Shares of ANET traded up $0.88 during mid-day trading on Wednesday, hitting $243.88. 670,260 shares of the company’s stock traded hands, compared to its average volume of 950,545. 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 Inc has a 1 year low of $187.08 and a 1 year high of $331.27. The stock has a market capitalization of $18.74 billion, a PE ratio of 34.50, a price-to-earnings-growth ratio of 1.53 and a beta of 1.62.

Arista Networks (NYSE:ANET) last released its quarterly 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. Arista Networks had a return on equity of 29.36% and a net margin of 30.36%. The company had revenue of $595.42 million for the quarter, compared to analyst estimates of $595.21 million. During the same period in the previous year, the company posted $1.66 earnings per share. The firm’s revenue was up 26.0% on a year-over-year basis. Research analysts forecast that Arista Networks Inc will post 8.42 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Larson Financial Group LLC bought a new stake in shares of Arista Networks during the fourth quarter valued at approximately $25,000. FTB Advisors Inc. bought a new stake in shares of Arista Networks during the fourth quarter valued at approximately $26,000. Lenox Wealth Management Inc. bought a new stake in shares of Arista Networks during the first quarter valued at approximately $26,000. Kaizen Advisory LLC bought a new stake in shares of Arista Networks during the fourth quarter valued at approximately $27,000. Finally, Capital Investment Advisory Services LLC bought a new stake in shares of Arista Networks during the fourth quarter valued at approximately $39,000. Institutional investors own 58.01% of the company’s stock.

A number of equities analysts have commented on the company. Rosenblatt Securities assumed coverage on Arista Networks in a research note on Friday, March 29th. They issued a “neutral” rating and a $330.00 price target on the stock. Wolfe Research raised Arista Networks from an “underperform” rating to a “peer perform” rating in a research note on Monday, May 6th. Morgan Stanley decreased their price target on Arista Networks from $300.00 to $275.00 and set an “equal weight” rating on the stock in a research note on Friday, June 7th. Needham & Company LLC reissued a “buy” rating and set a $385.00 target price (up from $315.00) on shares of Arista Networks in a research note on Monday, April 29th. Finally, ValuEngine cut Arista Networks from a “buy” rating to a “hold” rating in a research note on Saturday, May 4th. Nine analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $312.17.

ILLEGAL ACTIVITY WARNING: This article was first posted by Markets Daily and is the sole property of of Markets Daily. If you are reading this article on another domain, it was stolen and reposted in violation of US and international copyright & trademark law. The legal version of this article can be read at https://www.themarketsdaily.com/2019/06/13/arista-networks-inc-nyseanet-svp-kenneth-duda-sells-10876-shares.html.

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.

Featured Story: What does the Producer Price Index (PPI) tell investors?

Insider Buying and Selling by Quarter for Arista Networks (NYSE:ANET)

Receive News & Ratings for Arista Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arista Networks and related companies with MarketBeat.com's FREE daily email newsletter.