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 $69,988 were sold by Battles Kelly Bodnar on Aug 06 ’24. At $324.02 per share, Battles Kelly Bodnar sold 216 shares. The insider’s holdings dropped to 2,726 shares worth approximately $0.95 million following the completion of this transaction.
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Also, Ullal Jayshree sold 832 shares, netting a total of over 264,678 in proceeds. Following the sale of shares at $318.12 each, the insider now holds 17,681 shares.
Before that, Kelly Battles had added 216 shares to its account. In a trade valued at $69,152, the Director bought Arista Networks Inc shares for $320.15 each.
As published in a research note from Citigroup on June 27, 2024, Arista Networks Inc [ANET] has been retained to a Buy and the price target has been revised to $385. Analysts at Jefferies upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in early May. As of April 12, 2024, Rosenblatt has decreased its “Buy” rating to a “Sell” for ANET. Earlier on January 08, 2024, Melius upgraded its rating. Their new recommendation was “a Buy” for ANET stock which previously was a “a Hold”.
Analyzing ANET Stock Performance
During the last five days, there has been a surge of approximately 9.87%. Over the course of the year, Arista Networks Inc shares have jumped approximately 48.04%. Shares of the company reached a 52-week high of $376.50 on 07/09/24 and a 52-week low of $226.60 on 01/04/24. A 50-day SMA is recorded $334.85, while a 200-day SMA reached $278.78. Nevertheless, trading volume fell to 1.68 million shares from 1.4 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 344.61, which, if violated, would cause prices to drop to 340.57. In the upper region, resistance lies at 353.29. The next price resistance is at 357.93. RSI (Relative Strength Index) is 56.92 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 14.75, which suggests the price will increase in the coming days. Percent R is at 21.47%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
