Arista Networks, Inc. (NYSE:ANET) SVP Sells $4,700,048.48 in Stock

Arista Networks, Inc. (NYSE:ANETGet Free Report) SVP Kenneth Duda sold 14,416 shares of Arista Networks stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $326.03, for a total transaction of $4,700,048.48. Following the completion of the transaction, the senior vice president now owns 252,382 shares of the company’s stock, valued at approximately $82,284,103.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 transaction of $5,801,000.00.
  • On Monday, March 11th, Kenneth Duda sold 20,000 shares of Arista Networks stock. The shares were sold at an average price of $269.15, for a total transaction of $5,383,000.00.

Arista Networks Stock Down 0.2 %

Shares of ANET stock opened at $316.50 on Thursday. Arista Networks, Inc. has a 12-month low of $139.18 and a 12-month high of $329.04. The firm has a market capitalization of $99.18 billion, a price-to-earnings ratio of 44.08, a price-to-earnings-growth ratio of 2.89 and a beta of 1.13. The firm has a fifty day moving average of $286.42 and a 200-day moving average of $260.16.

Arista Networks declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, May 7th that permits the company to repurchase $1.20 billion in shares. This repurchase authorization permits the technology company to buy up to 1.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Arista Networks

Institutional investors and hedge funds have recently made changes to their positions in the company. AXQ Capital LP bought a new stake in Arista Networks in the 3rd quarter valued at $791,000. Lebenthal Global Advisors LLC bought a new stake in Arista Networks in the 4th quarter valued at $662,000. Advisor Resource Council lifted its position in Arista Networks by 507.9% in the 4th quarter. Advisor Resource Council now owns 7,021 shares of the technology company’s stock valued at $1,653,000 after acquiring an additional 5,866 shares in the last quarter. Bleakley Financial Group LLC lifted its position in Arista Networks by 4.6% during the 4th quarter. Bleakley Financial Group LLC now owns 4,445 shares of the technology company’s stock worth $1,047,000 after buying an additional 194 shares in the last quarter. Finally, WCM Investment Management LLC lifted its position in Arista Networks by 0.5% during the 4th quarter. WCM Investment Management LLC now owns 3,024,220 shares of the technology company’s stock worth $716,649,000 after buying an additional 16,081 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. KeyCorp raised their price target on shares of Arista Networks from $306.00 to $349.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. Piper Sandler raised their price target on shares of Arista Networks from $268.00 to $302.00 and gave the company a “neutral” rating in a report on Wednesday, May 8th. The Goldman Sachs Group raised their price target on shares of Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Oppenheimer reissued a “market perform” rating on shares of Arista Networks in a report on Tuesday, February 13th. Finally, UBS Group lifted their target price on shares of Arista Networks from $275.00 to $285.00 and gave the stock a “neutral” rating in a report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, Arista Networks currently has an average rating of “Moderate Buy” and an average price target of $295.22.

Check Out Our Latest Report on ANET

Arista Networks Company Profile

(Get Free Report)

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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Insider Buying and Selling by Quarter for Arista Networks (NYSE:ANET)

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