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

Arista Networks, Inc. (NYSE:ANET) SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $90.07, for a total value of $7,205,600.00. Following the transaction, the senior vice president now owns 12,976 shares in the company, valued at $1,168,748.32. The trade was a 86.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Monday, April 7th, Kenneth Duda sold 30 shares of Arista Networks stock. The stock was sold at an average price of $70.40, for a total value of $2,112.00.
• On Thursday, March 6th, Kenneth Duda sold 80,000 shares of Arista Networks stock. The shares were sold at an average price of $84.85, for a total value of $6,788,000.00.

Arista Networks Stock Performance

Arista Networks stock opened at $87.34 on Friday. The company has a market cap of $109.67 billion, a price-to-earnings ratio of 39.34, a PEG ratio of 3.10 and a beta of 1.38. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $133.58. The firm has a 50 day moving average price of $78.92 and a 200 day moving average price of $97.40.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, May 6th. The technology company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.06. The business had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The company’s revenue for the quarter was up 27.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.50 EPS. Sell-side analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current year.

Arista Networks announced that its Board of Directors has authorized a share repurchase program on Tuesday, May 6th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the technology company to repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Institutional Trading of Arista Networks

Large investors have recently added to or reduced their stakes in the stock. Caitlin John LLC raised its holdings in shares of Arista Networks by 174.7% during the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after buying an additional 152 shares during the period. Capital Advisors Ltd. LLC raised its stake in shares of Arista Networks by 335.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock valued at $27,000 after purchasing an additional 191 shares during the period. HighMark Wealth Management LLC raised its stake in shares of Arista Networks by 179.7% during the first quarter. HighMark Wealth Management LLC now owns 358 shares of the technology company’s stock valued at $28,000 after purchasing an additional 230 shares during the period. Cranbrook Wealth Management LLC boosted its stake in shares of Arista Networks by 300.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after purchasing an additional 198 shares during the period. Finally, Trust Co. of Vermont grew its holdings in Arista Networks by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after purchasing an additional 198 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ANET shares. Citigroup upped their price target on shares of Arista Networks from $92.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday. Needham & Company LLC lowered their target price on shares of Arista Networks from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Wednesday. UBS Group upgraded shares of Arista Networks from a “neutral” rating to a “buy” rating and lifted their price target for the company from $112.00 to $115.00 in a research report on Wednesday, March 5th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. Finally, Barclays cut their target price on shares of Arista Networks from $126.00 to $119.00 and set an “overweight” rating for the company in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $106.07.

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.