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

Arista Networks, Inc. (NYSE:ANET) SVP Kenneth Duda sold 80,000 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $115.61, for a total transaction of $9,248,800.00. Following the sale, the senior vice president now directly owns 12,976 shares in the company, valued at $1,500,155.36. This trade represents a 86.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Monday, January 6th, Kenneth Duda sold 80,000 shares of Arista Networks stock. The shares were sold at an average price of $118.47, for a total value of $9,477,600.00.
• On Friday, December 6th, Kenneth Duda sold 80,000 shares of Arista Networks stock. The shares were sold at an average price of $108.29, for a total transaction of $8,663,200.00.

Arista Networks Stock Up 1.4 %

ANET stock opened at $120.15 on Tuesday. Arista Networks, Inc. has a 52-week low of $60.08 and a 52-week high of $133.57. The stock has a market cap of $151.36 billion, a price-to-earnings ratio of 57.76, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. The business has a fifty day moving average of $113.21 and a two-hundred day moving average of $100.04.

Institutional Trading of Arista Networks

Several institutional investors and hedge funds have recently bought and sold shares of ANET. State Street Corp lifted its holdings in shares of Arista Networks by 3.8% in the 3rd quarter. State Street Corp now owns 11,237,635 shares of the technology company’s stock worth $4,313,229,000 after acquiring an additional 411,109 shares during the last quarter. Swedbank AB lifted its stake in Arista Networks by 293.2% during the fourth quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock worth $746,165,000 after purchasing an additional 5,034,022 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Arista Networks by 320.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,457,263 shares of the technology company’s stock worth $713,721,000 after buying an additional 4,919,882 shares during the period. Amundi grew its stake in shares of Arista Networks by 196.3% in the fourth quarter. Amundi now owns 6,342,064 shares of the technology company’s stock valued at $732,493,000 after buying an additional 4,201,973 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Arista Networks by 294.1% in the 4th quarter. Bank of New York Mellon Corp now owns 6,136,864 shares of the technology company’s stock valued at $678,308,000 after buying an additional 4,579,622 shares during the period. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ANET has been the subject of several research reports. StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Wells Fargo & Company boosted their price target on Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Rosenblatt Securities raised their price objective on Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a report on Friday, November 8th. Piper Sandler reaffirmed a “neutral” rating and set a $105.25 target price (up previously from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. Finally, Barclays reduced their target price on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Arista Networks has a consensus rating of “Moderate Buy” and an average target price of $105.83.

Arista Networks Company Profile

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.