Jayshree Ullal Sells 22,000 Shares of Arista Networks, Inc. (NYSE:ANET) Stock

Arista Networks, Inc. (NYSE:ANET) CEO Jayshree Ullal sold 22,000 shares of the business’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $303.00, for a total value of $6,666,000.00. Following the transaction, the chief executive officer now owns 1,665,300 shares of the company’s stock, valued at approximately $504,585,900. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Jayshree Ullal also recently made the following trade(s):

• On Monday, March 25th, Jayshree Ullal sold 22,000 shares of Arista Networks stock. The stock was sold at an average price of $301.45, for a total value of $6,631,900.00.
• On Wednesday, March 20th, Jayshree Ullal sold 21,000 shares of Arista Networks stock. The stock was sold at an average price of $289.06, for a total value of $6,070,260.00.
• On Monday, March 18th, Jayshree Ullal sold 20,000 shares of Arista Networks stock. The stock was sold at an average price of $282.41, for a total value of $5,648,200.00.
• On Friday, March 15th, Jayshree Ullal sold 87,418 shares of Arista Networks stock. The stock was sold at an average price of $278.81, for a total value of $24,373,012.58.
• On Monday, January 29th, Jayshree Ullal sold 980 shares of Arista Networks stock. The shares were sold at an average price of $268.29, for a total value of $262,924.20.
• On Thursday, January 25th, Jayshree Ullal sold 733 shares of Arista Networks stock. The shares were sold at an average price of $268.15, for a total value of $196,553.95.
• On Monday, January 22nd, Jayshree Ullal sold 8,002 shares of Arista Networks stock. The shares were sold at an average price of $267.39, for a total value of $2,139,654.78.
• On Thursday, January 18th, Jayshree Ullal sold 18,621 shares of Arista Networks stock. The shares were sold at an average price of $257.60, for a total value of $4,796,769.60.
• On Tuesday, January 9th, Jayshree Ullal sold 670 shares of Arista Networks stock. The shares were sold at an average price of $247.46, for a total value of $165,798.20.

Arista Networks Trading Down 3.2 %

Shares of ANET opened at $288.41 on Thursday. Arista Networks, Inc. has a 1 year low of $131.68 and a 1 year high of $307.74. The stock has a 50 day simple moving average of $274.45 and a 200-day simple moving average of $232.99. The stock has a market cap of $90.17 billion, a PE ratio of 43.90, a PEG ratio of 2.64 and a beta of 1.10.

Arista Networks (NYSE:ANET) last issued its earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the prior year, the firm posted $1.25 EPS. Arista Networks’s quarterly revenue was up 20.8% compared to the same quarter last year. On average, sell-side analysts forecast that Arista Networks, Inc. will post 6.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ANET. Barclays boosted their target price on Arista Networks from $272.00 to $311.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 13th. Evercore ISI reaffirmed an “outperform” rating and set a $300.00 target price on shares of Arista Networks in a research report on Wednesday. KeyCorp upped their price target on Arista Networks from $232.00 to $287.00 and gave the company an “overweight” rating in a research report on Thursday, January 18th. Melius raised Arista Networks from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. Finally, Needham & Company LLC reissued a “buy” rating and set a $320.00 price target on shares of Arista Networks in a research report on Tuesday, February 13th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $275.59.

Institutional Investors Weigh In On Arista Networks

Hedge funds and other institutional investors have recently bought and sold shares of the business. AXQ Capital LP acquired a new stake in Arista Networks during the 3rd quarter valued at $791,000. Advisor Resource Council boosted its position in Arista Networks by 507.9% in the 4th quarter. Advisor Resource Council now owns 7,021 shares of the technology company’s stock valued at $1,653,000 after buying an additional 5,866 shares during the last quarter. Cambridge Trust Co. boosted its position in Arista Networks by 70.1% in the 3rd quarter. Cambridge Trust Co. now owns 50,255 shares of the technology company’s stock valued at $9,243,000 after buying an additional 20,704 shares during the last quarter. Redhawk Wealth Advisors Inc. bought a new position in Arista Networks in the 4th quarter valued at $1,171,000. Finally, Rheos Capital Works Inc. boosted its position in Arista Networks by 28.6% in the 3rd quarter. Rheos Capital Works Inc. now owns 67,500 shares of the technology company’s stock valued at $12,415,000 after buying an additional 15,000 shares during the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Arista Networks Company Profile

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.