The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Arista Networks Inc shares valued at $5,800,910 were sold by Duda Kenneth on Apr 10 ’24. At $290.05 per share, Duda Kenneth sold 20,000 shares. The insider’s holdings dropped to 3,244 shares worth approximately $0.83 million following the completion of this transaction.
Also, Duda Kenneth sold 16,000 shares, netting a total of over 4,640,725 in proceeds. Following the sale of shares at $290.05 each, the insider now holds 243,268 shares.
Before that, Ullal Jayshree had sold 4,042 shares from its account. In a trade valued at $1,212,560, the President and CEO traded Arista Networks Inc shares for $299.99 each. Upon closing the transaction, the insider’s holdings decreased to 4,042 shares, worth approximately $418.84 million.
As published in a research note from Rosenblatt on April 12, 2024, Arista Networks Inc [ANET] has been rated down from a Buy to a Sell and the price target has been revised to $210. Analysts at Melius upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in early January. As of December 14, 2023, Citigroup has reiterated its “Buy” rating for ANET. Earlier on October 31, 2023, Morgan Stanley upgraded its rating. Their new recommendation was “an Overweight” for ANET stock which previously was a “an Equal-weight”.
Analyzing ANET Stock Performance
During the last five days, there has been a drop of approximately -13.28%. Over the course of the year, Arista Networks Inc shares have jumped approximately 9.21%. Shares of the company reached a 52-week high of $307.74 on 03/22/24 and a 52-week low of $226.60 on 01/04/24. A 50-day SMA is recorded $280.80, while a 200-day SMA reached $223.63. Nevertheless, trading volume fell to 1.95 million shares from 2.53 million shares the previous day.
Support And Resistance Levels for Arista Networks Inc (ANET)
According to the 24-hour chart, there is a support level at 253.13, which, if violated, would cause prices to drop to 249.06. In the upper region, resistance lies at 260.66. The next price resistance is at 264.12. RSI (Relative Strength Index) is 35.57 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -23.57, which suggests the price will decrease in the coming days. Percent R is at 90.86%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
