13 Sep President Jonathan Cartu Announces – Arista Networks Inc (NYSE:ANET) SVP Kenneth Duda Sells…
Arista Networks Inc (NYSE:ANET) SVP Kenneth Duda sold 10,874 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $234.82, for a total value of $2,553,432.68. Following the completion of the sale, the senior vice president now directly owns 2,979 shares of the company’s stock, valued at $699,528.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
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.
ANET stock opened at $249.94 on Friday. The firm has a market cap of $18.24 billion, a PE ratio of 35.35, a P/E/G ratio of 1.44 and a beta of 1.55. The company has a quick ratio of 5.17, a current ratio of 5.77 and a debt-to-equity ratio of 0.04. The business has a 50 day moving average of $236.71 and a 200-day moving average of $269.15. Arista Networks Inc has a 12-month low of $187.08 and a 12-month high of $331.27.
Arista Networks (NYSE:ANET) last released its earnings results on Thursday, August 1st. The technology company reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.46. The company had revenue of $608.32 million during the quarter, compared to analyst estimates of $606.78 million. Arista Networks had a return on equity of 28.76% and a net margin of 30.86%. Arista Networks’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.93 earnings per share. On average, research analysts expect that Arista Networks Inc will post 8.67 earnings per share for the current year.
Hedge funds have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC boosted its holdings in shares of Arista Networks by 15.7% in the second quarter. Commonwealth Equity Services LLC now owns 13,694 shares of the technology company’s stock worth $3,555,000 after acquiring an additional 1,854 shares during the period. Valeo Financial Advisors LLC raised its position in Arista Networks by 24.2% during the second quarter. Valeo Financial Advisors LLC now owns 190 shares of the technology company’s stock valued at $49,000 after purchasing an additional 37 shares in the last quarter. Swedbank grew its stake in shares of Arista Networks by 56.2% during the second quarter. Swedbank now owns 757,942 shares of the technology company’s stock valued at $196,777,000 after buying an additional 272,722 shares during the last quarter. Thornburg Investment Management Inc. bought a new position in shares of Arista Networks during the first quarter valued at about $18,463,000. Finally, Lido Advisors LLC bought a new position in shares of Arista Networks during the first quarter valued at about $483,000. 58.78% of the stock is owned by institutional investors.
Several analysts have recently commented on the company. Morgan Stanley lowered their price objective on Arista Networks from $300.00 to $275.00 and set an “equal weight” rating for the company in a research note on Friday, June 7th. Royal Bank of Canada set a $300.00 price objective on Arista Networks and gave the stock a “buy” rating in a research note on Friday, July 19th. Piper Jaffray Companies reissued an “overweight” rating and issued a $330.00 price objective (down from $340.00) on shares of Arista Networks in a research note on Friday, June 7th. Needham & Company LLC lowered their price objective on Arista Networks to $340.00 and set a “buy” rating for the company in a research note on Monday, July 29th. Finally, JMP Securities reissued an “outperform” rating and issued a $280.00 price objective (down from $315.00) on shares of Arista Networks in a research note on Friday, August 2nd. Eight analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $303.00.
Arista Networks Company Profile
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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