Kenneth Duda Sells 30,000 Shares of Arista Networks, Inc. (NYSE:ANET) Stock

Arista Networks, Inc. (NYSE:ANET - Get Free Report) SVP Kenneth Duda sold 30,000 shares of Arista Networks stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $111.19, for a total transaction of $3,335,700.00. Following the completion of the transaction, the senior vice president directly owned 12,976 shares of the company's stock, valued at $1,442,801.44. The trade was a 69.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• 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 Tuesday, June 17th, Kenneth Duda sold 26,000 shares of Arista Networks stock. The stock was sold at an average price of $92.23, for a total transaction of $2,397,980.00.
• On Tuesday, June 17th, Kenneth Duda sold 30,000 shares of Arista Networks stock. The stock was sold at an average price of $92.23, for a total transaction of $2,766,900.00.
• On Tuesday, May 6th, Kenneth Duda sold 80,000 shares of Arista Networks stock. The stock was sold at an average price of $90.07, for a total transaction of $7,205,600.00.

Arista Networks Price Performance

Shares of NYSE:ANET traded up $1.02 during trading hours on Thursday, hitting $114.06. The company's stock had a trading volume of 5,367,155 shares, compared to its average volume of 8,503,742. The company has a market capitalization of $143.25 billion, a price-to-earnings ratio of 48.28, a P/E/G ratio of 3.28 and a beta of 1.40. The firm's fifty day moving average price is $98.50 and its 200 day moving average price is $94.95. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $133.57.

Arista Networks (NYSE:ANET - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.59 by $0.06. The firm had revenue of $2 billion during the quarter, compared to analyst estimates of $1.97 billion. Arista Networks had a net margin of 40.72% and a return on equity of 30.48%. Arista Networks's revenue was up 27.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.50 EPS. On average, equities research analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Arista Networks declared that its board has approved a stock repurchase program on Tuesday, May 6th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the technology company to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts recently commented on ANET shares. Wolfe Research started coverage on shares of Arista Networks in a research note on Tuesday, July 8th. They set an "outperform" rating for the company. Evercore ISI lifted their price objective on shares of Arista Networks from $105.00 to $110.00 and gave the company an "outperform" rating in a report on Monday, June 23rd. BNP Paribas lowered shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 11th. KeyCorp initiated coverage on shares of Arista Networks in a report on Thursday, June 26th. They set an "overweight" rating and a $115.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Arista Networks from $110.00 to $130.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Arista Networks currently has an average rating of "Moderate Buy" and a consensus target price of $111.40.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ANET. DSG Capital Advisors LLC purchased a new stake in Arista Networks during the 4th quarter worth approximately $5,984,000. Ibex Wealth Advisors grew its position in Arista Networks by 14.4% during the 1st quarter. Ibex Wealth Advisors now owns 58,093 shares of the technology company's stock worth $4,501,000 after purchasing an additional 7,329 shares during the last quarter. Sowell Financial Services LLC purchased a new stake in Arista Networks during the 1st quarter worth approximately $629,000. Legal & General Group Plc grew its position in Arista Networks by 227.7% during the 4th quarter. Legal & General Group Plc now owns 7,814,613 shares of the technology company's stock worth $863,749,000 after purchasing an additional 5,429,857 shares during the last quarter. Finally, Motley Fool Asset Management LLC grew its position in Arista Networks by 357.3% during the 4th quarter. Motley Fool Asset Management LLC now owns 65,087 shares of the technology company's stock worth $7,194,000 after purchasing an additional 50,855 shares during the last quarter. Institutional investors own 82.47% of the company's stock.

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.