Insider Selling: Arista Networks, Inc. (NYSE:ANET) SVP Sells $9,248,800.00 in Stock

Arista Networks, Inc. (NYSE:ANET) SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, 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 legal 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 stock was sold at an average price of $118.47, for a total transaction 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 Price Performance

NYSE ANET opened at $109.61 on Thursday. The company’s 50 day simple moving average is $113.83 and its two-hundred day simple moving average is $100.59. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.57. The stock has a market capitalization of $138.08 billion, a PE ratio of 52.70, a P/E/G ratio of 3.10 and a beta of 1.09.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. The Goldman Sachs Group upped their price objective on Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Piper Sandler reaffirmed a “neutral” rating and set a $105.25 price target (up previously from $86.25) on shares of Arista Networks in a research report on Friday, November 8th. Evercore ISI lifted their price objective on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. StockNews.com cut Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Finally, Barclays cut 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.83.

Institutional Investors Weigh In On Arista Networks

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Caitlin John LLC increased its stake in Arista Networks by 174.7% in the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock worth $26,000 after acquiring an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC increased its position in shares of Arista Networks by 335.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock worth $27,000 after purchasing an additional 191 shares during the last quarter. Cranbrook Wealth Management LLC raised its stake in Arista Networks by 300.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after purchasing an additional 198 shares in the last quarter. Trust Co. of Vermont lifted its position in Arista Networks by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after purchasing an additional 198 shares during the last quarter. Finally, New Millennium Group LLC grew its stake in Arista Networks by 300.0% in the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock worth $29,000 after buying an additional 195 shares in the last quarter. Hedge funds and other institutional investors 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.