Arista Networks Inc’s recent filing unveils that its CTO and SVP Software Eng. Duda Kenneth unloaded Company’s shares for reported $0.54 million on Sep 06 ’24. In the deal valued at $321.28 per share,1,689 shares were sold. As a result of this transaction, Duda Kenneth now holds 182,600 shares worth roughly $65.69 million.
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Then, Duda Kenneth sold 20,000 shares, generating $6,347,992 in total proceeds. Upon selling the shares at $317.40, the CTO and SVP Software Eng. now owns 3,244 shares.
Before that, Duda Kenneth sold 18,311 shares. Arista Networks Inc shares valued at $5,805,373 were divested by the CTO and SVP Software Eng. at a price of $317.04 per share. As a result of the transaction, Duda Kenneth now holds 184,289 shares, worth roughly $66.3 million.
Citigroup reiterated its Arista Networks Inc [ANET] rating to a Buy in a research note published on June 27, 2024; the price target was $385. A number of analysts have revised their coverage, including Jefferies’s analysts, who increased its forecast for the stock in early May from “a Hold” to “a Buy”. Rosenblatt also remained covering ANET and has decreased its forecast on April 12, 2024 with a “Sell” recommendation from previously “Buy” rating. Melius revised its rating on January 08, 2024. It rated ANET as “a Buy” which previously was an “a Hold”.
Price Performance Review of ANET
On Friday, Arista Networks Inc [NYSE:ANET] saw its stock jump 1.24% to $359.76. Over the last five days, the stock has gained 14.46%. Arista Networks Inc shares have risen nearly 52.76% since the year began. Nevertheless, the stocks have risen 91.27% over the past one year. While a 52-week high of $376.50 was reached on 07/09/24, a 52-week low of $168.25 was recorded on 01/04/24. SMA at 50 days reached $341.33, while 200 days put it at $292.89.
Levels Of Support And Resistance For ANET Stock
The 24-hour chart illustrates a support level at 356.53, which if violated will result in even more drops to 353.30. On the upside, there is a resistance level at 363.51. A further resistance level may holdings at 367.26. The Relative Strength Index (RSI) on the 14-day chart is 59.86, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 14.36, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 8.37%. Stochastics %K at 83.72% indicates the stock is a selling.
How much short interest is there in Arista Networks Inc?
A steep rise in short interest was recorded in Arista Networks Inc stocks on 2024-08-30, growing by 0.38 million shares to a total of 2.47 million shares. Yahoo Finance data shows the prior-month short interest on 2024-07-31 was 2.09 million shares. There was a rise of 15.48%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on December 14, 2023 when Citigroup resumed its ‘”a Buy”‘ rating for the stock and retained the price target to $300.
