21 Sep Expert Jon Cartu Claims – Kenneth Duda Sells 10,874 Shares of Arista Networks Inc…
Arista Networks Inc (NYSE:ANET) SVP Kenneth Duda sold 10,874 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $234.82, for a total value of $2,553,432.68. Following the transaction, the senior vice president now directly owns 2,979 shares in the company, valued at $699,528.78. The sale was disclosed in a document filed with the SEC, which is available at this link.
Kenneth Duda also recently made the following trade(s):
- On Monday, August 12th, Kenneth Duda sold 10,876 shares of Arista Networks stock. The stock was sold at an average price of $224.30, for a total value of $2,439,486.80.
- On Wednesday, July 10th, Kenneth Duda sold 10,874 shares of Arista Networks stock. The stock was sold at an average price of $271.29, for a total value of $2,950,007.46.
Shares of NYSE ANET traded down $4.07 during trading on Friday, reaching $240.06. 694,880 shares of the company traded hands, compared to its average volume of 592,248. Arista Networks Inc has a 12-month low of $187.08 and a 12-month high of $331.27. The company has a current ratio of 5.77, a quick ratio of 5.17 and a debt-to-equity ratio of 0.04. The stock has a market cap of $18.90 billion, a P/E ratio of 33.95, a PEG ratio of 1.48 and a beta of 1.55. The firm’s fifty day simple moving average is $232.01 and its 200 day simple moving average is $267.65.
Arista Networks (NYSE:ANET) last released its earnings results on Thursday, August 1st. The technology company reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.46. Arista Networks had a net margin of 30.86% and a return on equity of 28.76%. The business had revenue of $608.32 million for the quarter, compared to the consensus estimate of $606.78 million. During the same period in the previous year, the firm earned $1.93 EPS. The business’s revenue for the quarter was up 17.0% on a year-over-year basis. As a group, research analysts expect that Arista Networks Inc will post 8.71 EPS for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in ANET. Geode Capital Management LLC boosted its holdings in Arista Networks by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 679,899 shares of the technology company’s stock worth $143,006,000 after acquiring an additional 15,438 shares in the last quarter. HL Financial Services LLC purchased a new position in shares of Arista Networks in the first quarter worth $207,000. Victory Capital Management Inc. raised its stake in shares of Arista Networks by 5,752.4% in the first quarter. Victory Capital Management Inc. now owns 44,595 shares of the technology company’s stock worth $14,023,000 after purchasing an additional 43,833 shares during the last quarter. State Treasurer State of Michigan raised its stake in shares of Arista Networks by 1.3% in the first quarter. State Treasurer State of Michigan now owns 15,100 shares of the technology company’s stock worth $4,748,000 after purchasing an additional 200 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. raised its stake in shares of Arista Networks by 1.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 28,780 shares of the technology company’s stock worth $9,050,000 after purchasing an additional 500 shares during the last quarter. 58.74% of the stock is currently owned by institutional investors.
Several equities research analysts recently weighed in on the company. Barclays assumed coverage on Arista Networks in a research report on Wednesday, August 7th. They set an “overweight” rating and a $284.00 price target on the stock. Evercore ISI assumed coverage on Arista Networks in a research report on Wednesday, September 11th. They set an “inline” rating and a $240.00 price target on the stock. Morgan Stanley dropped their price target on Arista Networks from $300.00 to $275.00 and set an “equal weight” rating on the stock in a research report on Friday, June 7th. Zacks Investment Research raised Arista Networks from a “sell” rating to a “hold” rating and set a $284.00 target price on the stock in a report on Monday, July 8th. Finally, Royal Bank of Canada set a $300.00 target price on Arista Networks and gave the stock a “buy” rating in a report on Friday, July 19th. Eight investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Arista Networks currently has a consensus rating of “Buy” and an average price target of $300.96.
About Arista Networks
Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company’s cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms, including universal leaf, spline, and universal spine products.
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