Insider Selling: Arista Networks (NYSE:ANET) Insider Sells 30,000 Shares of Stock

Key Points

• Insider Kenneth Duda sold 30,000 shares of Arista Networks stock for a total of $4,253,700, which represents a 69.81% decrease in his ownership.
• Arista Networks' stock price was up 1.9% to $149.51, amidst a trading volume significantly higher than its average.
• The company exceeded analysts' expectations with Q2 earnings of $0.73 per share on revenue of $2.20 billion, marking a 30.4% year-over-year increase.

Arista Networks, Inc. (NYSE:ANET - Get Free Report) insider Kenneth Duda sold 30,000 shares of the stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $141.79, for a total value of $4,253,700.00. Following the completion of the sale, the insider directly owned 12,976 shares of the company's stock, valued at approximately $1,839,867.04. The trade was a 69.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Wednesday, September 17th, Kenneth Duda sold 26,000 shares of Arista Networks stock. The stock was sold at an average price of $141.80, for a total transaction of $3,686,800.00.
• On Monday, August 18th, Kenneth Duda sold 26,000 shares of Arista Networks stock. The stock was sold at an average price of $136.51, for a total transaction of $3,549,260.00.
• On Monday, August 18th, Kenneth Duda sold 30,000 shares of Arista Networks stock. The stock was sold at an average price of $136.51, for a total transaction of $4,095,300.00.
• On Thursday, July 17th, Kenneth Duda sold 26,000 shares of Arista Networks stock. The stock was sold at an average price of $111.19, for a total transaction of $2,890,940.00.
• On Thursday, July 17th, Kenneth Duda sold 30,000 shares of Arista Networks stock. The stock was sold at an average price of $111.19, for a total transaction of $3,335,700.00.

Arista Networks Stock Performance

ANET traded up $2.85 during trading on Friday, reaching $149.51. 17,808,627 shares of the stock were exchanged, compared to its average volume of 8,846,882. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $156.32. The stock has a market cap of $187.91 billion, a P/E ratio of 58.80, a price-to-earnings-growth ratio of 3.06 and a beta of 1.50. The stock's 50 day moving average price is $130.85 and its two-hundred day moving average price is $102.07.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The technology company reported $0.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.08. Arista Networks had a return on equity of 31.05% and a net margin of 40.90%.The company had revenue of $2.20 billion during the quarter, compared to analysts' expectations of $2.11 billion. During the same period last year, the firm posted $0.53 earnings per share. The business's revenue was up 30.4% on a year-over-year basis. Arista Networks has set its Q3 2025 guidance at EPS. Equities research analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ANET has been the subject of a number of research analyst reports. Barclays lifted their price objective on shares of Arista Networks from $151.00 to $179.00 and gave the stock an "overweight" rating in a research report on Friday, September 12th. JPMorgan Chase & Co. upped their price target on shares of Arista Networks from $150.00 to $175.00 and gave the company an "overweight" rating in a research note on Friday, September 12th. Citigroup upped their price target on shares of Arista Networks from $136.00 to $176.00 and gave the company a "buy" rating in a research note on Friday, September 12th. Morgan Stanley upped their price target on shares of Arista Networks from $135.00 to $140.00 and gave the company an "overweight" rating in a research note on Friday, September 12th. Finally, Needham & Company LLC upped their price target on shares of Arista Networks from $155.00 to $160.00 and gave the company a "buy" rating in a research note on Tuesday. Sixteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Arista Networks currently has an average rating of "Moderate Buy" and an average price target of $157.88.

Institutional Investors Weigh In On Arista Networks

A number of hedge funds and other institutional investors have recently modified their holdings of ANET. Brighton Jones LLC lifted its holdings in shares of Arista Networks by 321.7% during the fourth quarter. Brighton Jones LLC now owns 7,806 shares of the technology company's stock worth $863,000 after buying an additional 5,955 shares in the last quarter. Revolve Wealth Partners LLC acquired a new position in Arista Networks in the fourth quarter valued at about $202,000. Bank Pictet & Cie Europe AG raised its stake in Arista Networks by 433.7% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 10,856 shares of the technology company's stock valued at $1,200,000 after purchasing an additional 8,822 shares in the last quarter. Bison Wealth LLC acquired a new position in Arista Networks in the fourth quarter valued at about $251,000. Finally, Waverly Advisors LLC raised its stake in Arista Networks by 1,426.5% in the fourth quarter. Waverly Advisors LLC now owns 12,609 shares of the technology company's stock valued at $1,394,000 after purchasing an additional 11,783 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company's stock.

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.