Arista Networks (NYSE:ANET) Insider Sells $5,291,000.00 in Stock

Key Points

• Arista Networks insider Kenneth Duda sold 26,000 shares at an average price of $203.50, generating $5.29 million. The transaction was conducted under a pre-arranged Rule 10b5-1 plan, leaving him with 442,400 shares.
• Arista reported quarterly EPS of $1.02 and revenue of $3.04 billion, beating analyst estimates, while revenue increased 37.7% year over year. The company guided for third-quarter EPS of $1.06–$1.08.
• Despite the insider sale, analysts remain bullish, with the stock carrying a consensus “Buy” rating and an average price target of $227.80 versus a recent price near $203.25.

Arista Networks, Inc. (NYSE:ANET - Get Free Report) insider Kenneth Duda sold 26,000 shares of Arista Networks stock in a transaction on Monday, September 21st. The shares were sold at an average price of $203.50, for a total value of $5,291,000.00. Following the sale, the insider directly owned 442,400 shares of the company's stock, valued at approximately $90,028,400. This trade represents a 5.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, September 21st, Kenneth Duda sold 17,333 shares of Arista Networks stock. The stock was sold at an average price of $203.50, for a total value of $3,527,265.50.
• On Thursday, August 20th, Kenneth Duda sold 26,000 shares of Arista Networks stock. The stock was sold at an average price of $185.42, for a total value of $4,820,920.00.
• On Thursday, August 20th, Kenneth Duda sold 17,333 shares of Arista Networks stock. The stock was sold at an average price of $185.42, for a total value of $3,213,884.86.
• On Monday, July 20th, Kenneth Duda sold 17,333 shares of Arista Networks stock. The shares were sold at an average price of $170.51, for a total value of $2,955,449.83.
• On Monday, July 20th, Kenneth Duda sold 26,000 shares of Arista Networks stock. The stock was sold at an average price of $170.51, for a total transaction of $4,433,260.00.

Arista Networks Price Performance

Shares of ANET stock traded down $1.95 during mid-day trading on Wednesday, hitting $203.25. 3,965,779 shares of the stock traded hands, compared to its average volume of 4,796,888. Arista Networks, Inc. has a 52-week low of $114.52 and a 52-week high of $214.89. The stock has a market cap of $256.34 billion, a P/E ratio of 64.12, a P/E/G ratio of 2.44 and a beta of 1.62. The stock's fifty day moving average is $189.19 and its two-hundred day moving average is $166.13.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The technology company reported $1.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.89 by $0.13. Arista Networks had a net margin of 38.37% and a return on equity of 30.65%. The firm had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $2.83 billion. During the same quarter in the previous year, the firm earned $0.73 EPS. The company's quarterly revenue was up 37.7% compared to the same quarter last year. Arista Networks has set its Q3 2026 guidance at 1.060-1.080 EPS. As a group, equities analysts forecast that Arista Networks, Inc. will post 3.7 EPS for the current fiscal year.

Institutional Investors Weigh In On Arista Networks

Several large investors have recently made changes to their positions in ANET. State Street Corp raised its holdings in Arista Networks by 159.4% in the 2nd quarter. State Street Corp now owns 121,303,125 shares of the technology company's stock valued at $20,606,975,000 after buying an additional 74,541,134 shares during the period. Geode Capital Management LLC boosted its stake in Arista Networks by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 26,447,629 shares of the technology company's stock worth $3,455,095,000 after buying an additional 477,625 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Arista Networks by 34.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 9,725,196 shares of the technology company's stock valued at $1,712,788,000 after acquiring an additional 2,497,275 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Arista Networks by 199.0% during the second quarter. Envestnet Asset Management Inc. now owns 9,630,196 shares of the technology company's stock valued at $1,635,978,000 after acquiring an additional 6,409,612 shares during the last quarter. Finally, Deutsche Bank AG raised its stake in shares of Arista Networks by 4.3% in the 2nd quarter. Deutsche Bank AG now owns 9,357,496 shares of the technology company's stock valued at $1,589,651,000 after acquiring an additional 388,354 shares during the period. 82.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Piper Sandler reissued an "overweight" rating and set a $240.00 target price (up from $181.00) on shares of Arista Networks in a research note on Wednesday, August 5th. Jefferies Financial Group set a $250.00 price target on shares of Arista Networks in a research note on Wednesday, August 5th. The Goldman Sachs Group reissued a "buy" rating and set a $225.00 price objective on shares of Arista Networks in a research report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft began coverage on Arista Networks in a research note on Monday, August 31st. They issued a "buy" rating and a $220.00 target price on the stock. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and issued a $255.00 target price (up from $200.00) on shares of Arista Networks in a research report on Wednesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating and twenty-one have given a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $227.80.

Arista Networks Company Profile

Arista Networks, Inc designs, develops and sells cloud networking solutions for large data centers, cloud service providers, internet companies, enterprises and other organizations. Its portfolio includes high-performance Ethernet switches, routers and wireless networking products used to connect servers, storage systems, users and applications across data center and campus environments.

The company's software offerings include Arista EOS, its Linux-based network operating system, and CloudVision, a cloud-based platform for network management, automation, monitoring and analytics.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.