Arista Networks Inc’s filing revealed that its CTO and SVP Software Eng. Duda Kenneth unloaded Company’s shares for reported $7.89 million on Oct 07 ’24. In the deal valued at $394.69 per share,20,000 shares were sold. As a result of this transaction, Duda Kenneth now holds 3,244 shares worth roughly $-1.34 million.
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Then, Duda Kenneth sold 20,000 shares, generating $7,893,864 in total proceeds. Upon selling the shares at $394.69, the CTO and SVP Software Eng. now owns 178,600 shares.
Before that, Kenneth Duda bought 80,000 shares. Arista Networks Inc shares valued at $31,520,000 were divested by the Officer at a price of $394.00 per share.
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 Monday, Arista Networks Inc [NYSE:ANET] saw its stock fall -0.83% to $413.47. Over the last five days, the stock has gained 5.33%. Arista Networks Inc shares have risen nearly 75.56% since the year began. Nevertheless, the stocks have risen 114.22% over the past one year. While a 52-week high of $417.71 was reached on 10/14/24, a 52-week low of $168.25 was recorded on 01/04/24. SMA at 50 days reached $360.55, while 200 days put it at $309.82.
Levels Of Support And Resistance For ANET Stock
The 24-hour chart illustrates a support level at 410.30, which if violated will result in even more drops to 407.12. On the upside, there is a resistance level at 419.69. A further resistance level may holdings at 425.90. The Relative Strength Index (RSI) on the 14-day chart is 72.71, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 17.96, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 19.97%. Stochastics %K at 91.79% 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 2024-09-30, growing by 49888.0 shares to a total of 2.52 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 2.47 million shares. There was a rise of 1.98%, 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.
