SoFi CEO enters prepaid forward contract on 1.5 million shares
Kenneth Duda, Chief Technology Officer and Senior Vice President of Software (ETR:SOWGn) Engineering at Arista Networks , Inc. (NYSE:ANET), a prominent player in the Communications Equipment industry with a market capitalization of $95 billion, executed several stock transactions on April 7, 2025, according to a recent SEC filing. Duda sold shares of Arista Networks' common stock totaling approximately $5.34 million. The transactions were carried out under a pre-arranged Rule 10b5-1 trading plan. These insider transactions come as the stock has declined about 25% over the past six months, though InvestingPro analysis shows the company maintains a "GREAT" overall financial health score.
The shares were sold at prices ranging from $61.43 to $70.40 per share. Following these transactions, Duda retains direct ownership of 12,976 shares of Arista Networks.
In addition to the sales, Duda acquired 80,000 shares through an exercise priced at $3.515 per share, amounting to a total of $281,200. This acquisition increased his shareholding in the company.
The filing also noted transactions conducted on behalf of Duda's children's trust and a foundation, both managed under separate Rule 10b5-1 plans. These transactions amounted to $4.27 million and $1.07 million, respectively.
In other recent news, Arista Networks has been the subject of several analyst updates and business developments. JPMorgan reiterated its Overweight rating on Arista Networks, maintaining a price target of $140, citing potential earnings growth and increased adoption of Ethernet in AI data centers. UBS upgraded Arista Networks from Neutral to Buy, raising the price target to $115, driven by expectations of significant growth in data center capital expenditures. Piper Sandler adjusted its price target for Arista Networks to $108 while maintaining a Neutral rating, following the company's fourth-quarter earnings report that met projections but raised concerns over potential customer loss.
Evercore ISI maintained its Outperform rating and $130 price target, despite the departure of Chief Platform Officer John McCool, which marks the third high-profile exit in 18 months. The firm emphasized the importance of CEO Jayshree Ullal and CFO Ken Duda, indicating their roles are critical to Arista's success. Additionally, Evercore ISI noted the emergence of Nexthop AI, a new startup led by former Arista COO Anshul Sadana, as a potential competitor in the networking space. Despite these changes, Evercore ISI remains positive about Arista's performance and strategic positioning. These developments reflect a dynamic period for Arista Networks, with analysts offering varied perspectives on the company's future prospects.
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