Kenneth Duda Sells 14,416 Shares of Arista Networks, Inc. (NYSE:ANET) Stock

Arista Networks, Inc. (NYSE:ANET - Get Free Report) SVP Kenneth Duda sold 14,416 shares of the company's stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $326.03, for a total value of $4,700,048.48. Following the completion of the sale, the senior vice president now owns 252,382 shares in the company, valued at $82,284,103.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, April 10th, Kenneth Duda sold 20,000 shares of Arista Networks stock. The shares were sold at an average price of $290.05, for a total value of $5,801,000.00.
• On Monday, March 11th, Kenneth Duda sold 20,000 shares of Arista Networks stock. The stock was sold at an average price of $269.15, for a total value of $5,383,000.00.

Arista Networks Stock Down 0.1 %

Arista Networks stock traded down $0.42 during midday trading on Monday, reaching $319.47. The stock had a trading volume of 1,387,146 shares, compared to its average volume of 2,529,729. The firm has a market capitalization of $100.11 billion, a PE ratio of 44.77, a P/E/G ratio of 2.89 and a beta of 1.13. Arista Networks, Inc. has a 12 month low of $139.18 and a 12 month high of $329.04. The firm's 50-day moving average price is $284.03 and its 200 day moving average price is $258.26.

Arista Networks declared that its board has authorized a share buyback plan on Tuesday, May 7th that authorizes the company to buyback $1.20 billion in shares. This buyback authorization authorizes the technology company to buy up to 1.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Benjamin Edwards Inc. bought a new stake in Arista Networks in the 1st quarter worth approximately $26,000. Larson Financial Group LLC bought a new stake in Arista Networks in the third quarter valued at approximately $28,000. First Command Advisory Services Inc. bought a new stake in Arista Networks in the third quarter valued at approximately $29,000. Financial Synergies Wealth Advisors Inc. lifted its position in Arista Networks by 872.7% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company's stock valued at $31,000 after purchasing an additional 96 shares during the last quarter. Finally, NBC Securities Inc. bought a new stake in Arista Networks in the third quarter valued at approximately $33,000. Hedge funds and other institutional investors own 82.47% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. The Goldman Sachs Group increased their price target on Arista Networks from $313.00 to $356.00 and gave the stock a "buy" rating in a report on Friday, March 22nd. Evercore ISI upped their target price on Arista Networks from $320.00 to $340.00 and gave the stock an "outperform" rating in a research report on Monday. JMP Securities reaffirmed a "market outperform" rating and set a $325.00 target price on shares of Arista Networks in a research report on Tuesday, February 13th. Wells Fargo & Company upped their target price on Arista Networks from $310.00 to $340.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 8th. Finally, Oppenheimer reaffirmed a "market perform" rating on shares of Arista Networks in a research report on Tuesday, February 13th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, Arista Networks presently has a consensus rating of "Moderate Buy" and an average price target of $295.22.

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.

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