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 $542,645 were sold by Duda Kenneth on Sep 06 ’24. At $321.28 per share, Duda Kenneth sold 1,689 shares. The insider’s holdings dropped to 182,600 shares worth approximately $62.62 million following the completion of this transaction.
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Also, Duda Kenneth sold 20,000 shares, netting a total of over 6,347,992 in proceeds. Following the sale of shares at $317.40 each, the insider now holds 3,244 shares.
Before that, Duda Kenneth had sold 18,311 shares from its account. In a trade valued at $5,805,373, the CTO and SVP Software Eng. traded Arista Networks Inc shares for $317.04 each. Upon closing the transaction, the insider’s holdings decreased to 18,311 shares, worth approximately $63.2 million.
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 5.18%. Over the course of the year, Arista Networks Inc shares have jumped approximately 45.61%. 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 $341.48, while a 200-day SMA reached $291.50. Nevertheless, trading volume fell to 2.42 million shares from 1.15 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 330.07, which, if violated, would cause prices to drop to 317.21. In the upper region, resistance lies at 349.90. The next price resistance is at 356.88. RSI (Relative Strength Index) is 52.88 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -6.28, which suggests the price will decrease in the coming days. Percent R is at 34.09%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
