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 $97,868 were sold by Battles Kelly Bodnar on May 07 ’24. At $274.91 per share, Battles Kelly Bodnar sold 356 shares. The insider’s holdings dropped to 2,570 shares worth approximately $0.76 million following the completion of this transaction.
Also, Ullal Jayshree sold 1,500 shares, netting a total of over 388,156 in proceeds. Following the sale of shares at $258.77 each, the insider now holds 17,681 shares.
Before that, McCool John F had sold 584 shares from its account. In a trade valued at $150,830, the Chief Platform Officer traded Arista Networks Inc shares for $258.27 each. Upon closing the transaction, the insider’s holdings decreased to 584 shares, worth approximately $0.0.
As published in a research note from Jefferies on May 03, 2024, Arista Networks Inc [ANET] has been rated up from a Hold to a Buy and the price target has been revised to $320 from $240. Analysts at Rosenblatt downgraded the stock from ‘”a Buy”‘ to ‘”a Sell”‘ outlook in a report released in mid April. As of January 08, 2024, Melius has increased its “Hold” rating to a “Buy” for ANET. Earlier on December 14, 2023, Citigroup resumed its rating. Their recommendation was “a Buy” for ANET stock.
Analyzing ANET Stock Performance
During the last five days, there has been a surge of approximately 13.06%. Over the course of the year, Arista Networks Inc shares have jumped approximately 25.71%. 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 $279.68, while a 200-day SMA reached $231.01. Nevertheless, trading volume fell to 2.59 million shares from 7.65 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 291.49, which, if violated, would cause prices to drop to 286.90. In the upper region, resistance lies at 298.56. The next price resistance is at 301.04. RSI (Relative Strength Index) is 63.53 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 20.59, which suggests the price will increase in the coming days. Percent R is at 1.64%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
